Expro (XPRO) 10-Q 24 Oct 24 2024 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Oct. 17, 2024
Document Information [Line Items]
Entity Central Index Key	0001575828
Entity Registrant Name	Expro Group Holdings N.V.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-36053
Entity Incorporation, State or Country Code	P7
Entity Tax Identification Number	98-1107145
Entity Address, Address Line One	1311 Broadfield Boulevard, Suite 400
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77084
City Area Code	713
Local Phone Number	463-9776
Title of 12(b) Security	Common Stock, €0.06 nominal value
Trading Symbol	XPRO
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		117,495,090

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total revenue	$ 422,828	$ 369,818	$ 1,275,959	$ 1,106,014
Operating costs and expenses:
Cost of revenue, excluding depreciation and amortization expense	(331,235)	(315,825)	(1,006,242)	(924,420)
General and administrative expense, excluding depreciation and amortization expense	(20,467)	(15,437)	(65,905)	(44,908)
Depreciation and amortization expense	(40,391)	(37,414)	(121,184)	(109,386)
Merger and integration expense	(1,437)	(817)	(12,387)	(4,332)
Severance and other expense	(3,181)	(1,897)	(8,007)	(5,487)
Total operating cost and expenses	(396,711)	(371,390)	(1,213,725)	(1,088,533)
Operating income (loss)	26,117	(1,572)	62,234	17,481
Other income (expense), net	262	(1,129)	1,081	(3,540)
Interest and finance expense, net	(3,895)	(373)	(10,713)	(1,688)
Income (loss) before taxes and equity in income of joint ventures	22,484	(3,074)	52,602	12,253
Equity in income of joint ventures	4,241	2,495	12,955	7,736
Income (loss) before income taxes	26,725	(579)	65,557	19,989
Income tax expense	(10,450)	(13,307)	(36,673)	(30,931)
Net income (loss)	$ 16,275	$ (13,886)	$ 28,884	$ (10,942)
Earnings (loss) per common share:
Basic (in dollars per share)	$ 0.14	$ (0.13)	$ 0.25	$ (0.1)
Diluted (in dollars per share)	$ 0.14	$ (0.13)	$ 0.25	$ (0.1)
Weighted average common shares outstanding:
Basic (in shares)	117,467,994	108,777,429	113,887,885	108,764,599
Diluted (in shares)	118,293,677	108,777,429	115,605,215	108,764,599

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income (loss)	$ 16,275	$ (13,886)	$ 28,884	$ (10,942)
Other comprehensive loss:
Amortization of prior service credit	(61)	(61)	(183)	(183)
Other comprehensive loss	(61)	(61)	(183)	(183)
Comprehensive income (loss)	$ 16,214	$ (13,947)	$ 28,701	$ (11,125)

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Current assets
Cash and cash equivalents	$ 165,663	$ 151,741
Restricted cash	1,322	1,425
Accounts receivable, net	532,469	469,119
Inventories	179,339	143,325
Income tax receivables	32,511	27,581
Other current assets	72,976	58,409
Total current assets	984,280	851,600
Property, plant and equipment, net	535,988	513,222
Investments in joint ventures	75,537	66,402
Intangible assets, net	308,453	239,716
Goodwill	343,885	247,687
Operating lease right-of-use assets	76,332	72,310
Non-current accounts receivable, net	8,008	9,768
Other non-current assets	11,137	12,302
Total assets	2,343,620	2,013,007
Current liabilities
Accounts payable and accrued liabilities	326,647	326,125
Income tax liabilities	52,830	45,084
Finance lease liabilities	2,282	1,967
Operating lease liabilities	17,990	17,531
Other current liabilities	97,699	98,144
Total current liabilities	497,448	488,851
Long-term borrowings	121,065	20,000
Deferred tax liabilities, net	47,196	22,706
Post-retirement benefits	5,675	10,445
Non-current finance lease liabilities	15,040	16,410
Non-current operating lease liabilities	59,528	54,976
Uncertain tax positions	69,471	59,544
Other non-current liabilities	44,868	44,202
Total liabilities	860,291	717,134
Commitments and contingencies (Note 17)
Stockholders’ equity:
Common stock, €0.06 nominal value, 200,000,000 shares authorized, 121,056,680 and 113,389,911 shares issued and 117,470,113 and 110,029,694 shares outstanding	8,486	8,062
Treasury stock (at cost) 3,586,567 and 3,360,217 shares	(69,104)	(64,697)
Additional paid-in capital	2,072,061	1,909,323
Accumulated other comprehensive income	22,135	22,318
Accumulated deficit	(550,249)	(579,133)
Total stockholders’ equity	1,483,329	1,295,873
Total liabilities and stockholders’ equity	$ 2,343,620	$ 2,013,007

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - € / shares	Sep. 30, 2024	Dec. 31, 2023
Common stock, par value (in EUR per share)	€ 0.06	€ 0.06
Common stock, shares authorized (in shares)	200,000,000	200,000,000
Common stock, shares issued (in shares)	121,056,680	113,389,911
Common stock, shares outstanding (in shares)	117,470,113	110,029,694
Treasury stock, shares (in shares)	3,586,567	3,360,217

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ 28,884	$ (10,942)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization expense	121,184	109,386
Equity in income of joint ventures	(12,955)	(7,736)
Stock-based compensation expense	19,251	14,682
Elimination of unrealized (loss) gain on sales to joint ventures	(312)	3,520
Changes in fair value of contingent consideration	(5,761)	0
Deferred taxes	(1,126)	(8,066)
Unrealized foreign exchange losses	3,418	1,725
Changes in assets and liabilities:
Accounts receivable, net	(28,676)	3,193
Inventories	(15,367)	(587)
Other assets	(11,471)	(15,279)
Accounts payable and accrued liabilities	(19,617)	29,269
Other liabilities	(8,463)	(15,422)
Income taxes, net	3,375	4,481
Dividends received from joint ventures	4,132	2,754
Other	(4,418)	(5,450)
Net cash provided by operating activities	72,078	105,528
Cash flows from investing activities:
Capital expenditures	(99,158)	(84,623)
Payment for acquisition of business, net of cash acquired	(31,967)	(8,477)
Proceeds from settlement of contingent consideration	7,500	0
Proceeds from disposal of assets	2,900	2,013
Proceeds from sale / maturity of investments	0	288
Net cash used in investing activities	(120,725)	(90,799)
Cash flows from financing activities:
Release of collateral deposits, net	1,242	350
Proceeds from borrowings	117,269	50,000
Repayment of borrowings	(44,351)	0
Repurchase of common stock	0	(10,011)
Payment of withholding taxes on stock-based compensation plans	(3,269)	(2,436)
Repayment of financed insurance premium	(7,828)	(6,733)
Repayments of finance leases	(1,055)	(1,296)
Net cash provided by financing activities	62,008	29,874
Effect of exchange rate changes on cash and cash equivalents	458	(6,052)
Net increase to cash and cash equivalents and restricted cash	13,819	38,551
Cash and cash equivalents and restricted cash at beginning of period	153,166	218,460
Cash and cash equivalents and restricted cash at end of period	$ 166,985	$ 257,011

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock Outstanding [Member]	Treasury Stock, Common [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2022	108,744
Balance at Dec. 31, 2022	$ 7,911	$ (40,870)	$ 1,847,078	$ 27,549	$ (555,773)	$ 1,285,895
Net income (loss)	0	0	0	0	(6,351)	(6,351)
Other comprehensive loss	0	0	0	(61)	0	(61)
Stock-based compensation expense	$ 0	0	4,171	0	0	4,171
Common shares issued upon vesting of share-based awards (in shares)	582
Common shares issued upon vesting of share-based awards	$ 32	0	566	0	0	598
Treasury shares withheld (in shares)	(185)
Treasury shares withheld	$ 0	(3,556)	0	0	0	(3,556)
Acquisition of common stock (in shares)	(557)
Acquisition of common stock	$ 0	(10,011)	0	0	0	(10,011)
Net income (loss)	$ 0	0	0	0	(6,351)	(6,351)
Balance (in shares) at Mar. 31, 2023	108,584
Balance at Mar. 31, 2023	$ 7,943	(54,437)	1,851,815	27,488	(562,124)	1,270,685
Balance (in shares) at Dec. 31, 2022	108,744
Balance at Dec. 31, 2022	$ 7,911	(40,870)	1,847,078	27,549	(555,773)	1,285,895
Net income (loss)						(10,942)
Other comprehensive loss						(183)
Acquisition of common stock						(10,000)
Net income (loss)						(10,942)
Balance (in shares) at Sep. 30, 2023	108,815
Balance at Sep. 30, 2023	$ 7,956	(54,561)	1,862,950	27,366	(566,715)	1,276,996
Balance (in shares) at Mar. 31, 2023	108,584
Balance at Mar. 31, 2023	$ 7,943	(54,437)	1,851,815	27,488	(562,124)	1,270,685
Net income (loss)	0	0	0	0	9,295	9,295
Other comprehensive loss	0	0	0	(61)	0	(61)
Stock-based compensation expense	$ 0	0	5,577	0	0	5,577
Common shares issued upon vesting of share-based awards (in shares)	113
Common shares issued upon vesting of share-based awards	$ 6	0	(6)	0	0	0
Treasury shares refunded (in shares)	7
Treasury shares refunded	$ 0	119	0	0	0	119
Net income (loss)	$ 0	0	0	0	9,295	9,295
Balance (in shares) at Jun. 30, 2023	108,704
Balance at Jun. 30, 2023	$ 7,949	(54,318)	1,857,386	27,427	(552,829)	1,285,615
Net income (loss)	0	0	0	0	(13,886)	(13,886)
Other comprehensive loss	0	0	0	(61)	0	(61)
Stock-based compensation expense	$ 0	0	4,934	0	0	4,934
Common shares issued upon vesting of share-based awards (in shares)	122
Common shares issued upon vesting of share-based awards	$ 7	0	630	0	0	637
Treasury shares withheld (in shares)	(11)
Treasury shares withheld	$ 0	(243)	0	0	0	(243)
Net income (loss)	$ 0	0	0	0	(13,886)	(13,886)
Balance (in shares) at Sep. 30, 2023	108,815
Balance at Sep. 30, 2023	$ 7,956	(54,561)	1,862,950	27,366	(566,715)	1,276,996
Balance (in shares) at Dec. 31, 2023	110,030
Balance at Dec. 31, 2023	$ 8,062	(64,697)	1,909,323	22,318	(579,133)	1,295,873
Net income (loss)	0	0	0	0	(2,677)	(2,677)
Other comprehensive loss	0	0	0	(61)	0	(61)
Stock-based compensation expense	$ 0	0	5,070	0	0	5,070
Common shares issued upon vesting of share-based awards (in shares)	719
Common shares issued upon vesting of share-based awards	$ 40	0	(40)	0	0	0
Treasury shares withheld (in shares)	(212)
Treasury shares withheld	$ 0	(4,095)	0	0	0	(4,095)
Net income (loss)	$ 0	0	0	0	(2,677)	(2,677)
Balance (in shares) at Mar. 31, 2024	110,537
Balance at Mar. 31, 2024	$ 8,102	(68,792)	1,914,353	22,257	(581,810)	1,294,110
Balance (in shares) at Dec. 31, 2023	110,030
Balance at Dec. 31, 2023	$ 8,062	(64,697)	1,909,323	22,318	(579,133)	1,295,873
Net income (loss)						28,884
Other comprehensive loss						(183)
Net income (loss)						28,884
Balance (in shares) at Sep. 30, 2024	117,470
Balance at Sep. 30, 2024	$ 8,486	(69,104)	2,072,061	22,135	(550,249)	1,483,329
Balance (in shares) at Mar. 31, 2024	110,537
Balance at Mar. 31, 2024	$ 8,102	(68,792)	1,914,353	22,257	(581,810)	1,294,110
Net income (loss)	0	0	0	0	15,286	15,286
Other comprehensive loss	0	0	0	(61)	0	(61)
Stock-based compensation expense	$ 0	0	7,350	0	0	7,350
Common shares issued upon vesting of share-based awards (in shares)	105
Common shares issued upon vesting of share-based awards	$ 6	0	(6)	0	0	0
Treasury shares withheld (in shares)	(12)
Treasury shares withheld	$ 0	(256)	0	0	0	(256)
Acquisition of common stock (in shares)	6,750
Net income (loss)	$ 0	0	0	0	15,286	15,286
Coretrax Acquisition	$ 373	0	142,392	0	0	142,765
Balance (in shares) at Jun. 30, 2024	117,380
Balance at Jun. 30, 2024	$ 8,481	(69,048)	2,064,089	22,196	(566,524)	1,459,194
Net income (loss)	0	0	0	0	16,275	16,275
Other comprehensive loss	0	0	0	(61)	0	(61)
Stock-based compensation expense	$ 0	0	6,832	0	0	6,832
Common shares issued upon vesting of share-based awards (in shares)	92
Common shares issued upon vesting of share-based awards	$ 5	0	1,140	0	0	1,145
Treasury shares withheld (in shares)	(2)
Treasury shares withheld	$ 0	(56)	0	0	0	(56)
Net income (loss)	$ 0	0	0	0	16,275	16,275
Balance (in shares) at Sep. 30, 2024	117,470
Balance at Sep. 30, 2024	$ 8,486	$ (69,104)	$ 2,072,061	$ 22,135	$ (550,249)	$ 1,483,329

Note 1 - Business Description

Note 1 - Business Description	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Business Description and Basis of Presentation [Text Block]	1. Business description With roots dating to 1938, On October 25, 2023, October 25, 2023 November 24, 2024 ( may not nine September 30, 2024 nine September 30, 2023

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Basis of Presentation and Significant Accounting Policies [Text Block]	2. Basis of presentation and significant accounting policies Basis of presentation The unaudited condensed consolidated financial statements reflect the accounts of the Company and its subsidiaries. All intercompany balances and transactions, including unrealized profits arising from them, have been eliminated for purposes of preparing these unaudited condensed consolidated financial statements. Investments in which we do not The accompanying condensed consolidated financial statements have not not December 31, 2023 10 December 31, 2023 February 21, 2024 ( In the opinion of management, these unaudited condensed consolidated financial statements, which are prepared in accordance with the rules of the SEC and U.S. GAAP for interim financial reporting, included herein contain all adjustments necessary to present fairly our financial position as of September 30, 2024 s for the nine months ended September 30, 2024 2023 nine months ended September 30, 2024 2023 nine September 30, 2024 not may December 31, 2024 The unaudited condensed consolidated financial statements have been prepared on an historical cost basis using the United States dollar (“$” or “U.S. dollar”) as the reporting currency. Significant accounting policies Refer to Note 2 Basis of presentation and significant accounting policies December 31, 2023 no December 31, 2023 Recent accounting pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) generally in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. In December 2023, 2023 09, 740 2023 09” 2023 09 2023 09 December 15, 2024. In November 2023, 2023 07, 280 2023 07” 2023 07 December 15, 2023 December 15, 2024. All other recently issued ASUs were assessed and were either determined to be not

Note 3 - Business Combinations

Note 3 - Business Combinations and Dispositions	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Mergers, Acquisitions and Dispositions Disclosures [Text Block]	3. Business combinations and dispositions DeltaTek Oil Tools Limited On February 8, 2023 ( The contingent consideration arrangement requires the Company to pay the former owners of DeltaTek a percentage of future revenues generated specifically from the acquired technology over a period of seven not 3 820. The DeltaTek Acquisition is accounted for as a business combination and Expro has been identified as the acquirer for accounting purposes. As a result, the Company has, in accordance with ASC 805, Business Combinations The following table sets forth the allocation of the DeltaTek Acquisition consideration exchanged to the fair value of identifiable tangible and intangible assets acquired and liabilities assumed as of the DeltaTek Closing Date, with the recording of goodwill for the excess of the consideration transferred over the net aggregate fair value of the identifiable assets acquired and liabilities assumed (in thousands): Initial allocation of the consideration Measurement period adjustments Final allocation of the consideration Cash and cash equivalents $ 1,464 $ - $ 1,464 Accounts receivables, net 723 - 723 Inventories 183 - 183 Property, plant and equipment 642 - 642 Goodwill 7,157 994 8,151 Intangible assets 11,063 2 11,065 Other assets 27 - 27 Total assets 21,259 996 22,255 Accounts payable and accrued liabilities 245 2 247 Deferred tax liabilities 2,700 66 2,766 Other liabilities 831 (16 ) 815 Total Liabilities 3,776 52 3,828 Fair value of net assets acquired $ 17,483 $ 944 $ 18,427 The preliminary valuation of the assets acquired and liabilities assumed, including other liabilities, in the DeltaTek Acquisition initially resulted in a goodwill of $7.2 million. During the third 2023, The fair values of identifiable intangible assets were prepared using an income valuation approach, which requires a forecast of expected future cash flows either using the relief-from royalty method or the multi-period excess earnings method, which are discounted to approximate their current value. The estimated useful lives are based on management’s historical experience and expectations as to the duration of time that benefits from these assets are expected to be realized. The intangible assets will be amortized on a straight-line basis over an estimated 5 to 15 years life. We expect annual amortization to be approximately $1.0 million associated with these intangible assets. An associated deferred tax liability has been recorded in regards to these intangible assets. Refer to Note 14 Intangible assets, net The goodwill related to the DeltaTek Acquisition consists largely of the synergies and economies of scale expected from the technology providing more efficient services and expected future developments resulting from the assembled workforce. The goodwill is not not PRT Offshore On October 2, 2023 ( December 31, 2023 second 2024, fourth 2024. The contingent consideration arrangement required the Company to pay the former owners of PRT additional consideration based on PRT’s financial performance during the four not 3 820. The PRT Acquisition is accounted for as a business combination and Expro has been identified as the acquirer for accounting purposes. As a result, the Company has in accordance with ASC 805, Business Combinations The following table sets forth the allocation of the PRT Acquisition consideration exchanged to the fair value of identifiable tangible and intangible assets acquired and liabilities assumed as of the PRT Closing Date, with the recording of goodwill for the excess of the consideration transferred over the net aggregate fair value of the identifiable assets acquired and liabilities assumed (in thousands): Initial allocation of the consideration Measurement period adjustments Final allocation of the consideration Cash and cash equivalents $ 15,086 $ - $ 15,086 Accounts receivables, net 15,195 - 15,195 Other current assets 986 - 986 Property, plant and equipment 52,278 (619 ) 51,659 Goodwill 18,556 917 19,473 Intangible assets 33,940 (86 ) 33,854 Operating lease right-of-use assets 1,242 - 1,242 Total assets 137,283 212 137,495 Accounts payable and accrued liabilities 8,621 - 8,621 Operating lease liabilities 505 - 505 Other current liabilities 1,811 406 2,217 Non-current operating lease liabilities 678 - 678 Long-term borrowings 34,701 - 34,701 Total liabilities 46,316 406 46,722 Fair value of net assets acquired $ 90,967 $ (194 ) $ 90,773 The preliminary valuation of the assets acquired and liabilities assumed, including other liabilities, in the PRT Acquisition initially resulted in a goodwill of $18.6 million. During 2024, The fair values of identifiable intangible assets were prepared using an income valuation approach, which requires a forecast of expected future cash flows either using the relief-from royalty method or the multi-period excess earnings method, which are discounted to approximate their current value. The estimated useful lives are based on management’s historical experience and expectations as to the duration of time that benefits from these assets are expected to be realized. The cost approach was used to determine the fair value of property, plant and equipment. The intangible assets will be amortized on a straight-line basis over an estimated 5 to 15 years life. We expect annual amortization to be approximately $3.3 million associated with these intangible assets. An associated deferred tax liability has been recorded for these intangible assets. Refer to Note 14 “Intangible assets, net” The goodwill related to the PRT Acquisition consists largely of the synergies and economies of scale expected from the acquired customer relationships and contracts. The goodwill is not Coretrax On May 15, 2024 ( 3 May 1, 2024. We estimated the fair value of consideration for the Coretrax Acquisition to be $186.7 million, including cash consideration of $31.3 million, net of cash received, equity consideration of $142.8 million, and contingent consideration of $3.3 million, subject to a true-up for customary working capital adjustments. The contingent consideration arrangement required the Company to pay the former owners of Coretrax additional consideration based on Expro’s stock price and foreign exchange rate movement during a period of up to 150 not 3 820. In July 2024, The Coretrax Acquisition is accounted for as a business combination and Expro has been identified as the acquirer for accounting purposes. As a result, the Company has in accordance with ASC 805, Initial allocation of the consideration Measurement period adjustments Allocation of Cash and cash equivalents $ 9,315 $ - $ 9,315 Accounts receivables, net 31,414 - 31,414 Inventories 16,933 - 16,933 Other current assets 3,170 - 3,170 Property, plant and equipment 28,685 - 28,685 Goodwill 95,773 (491 ) 95,282 Intangible assets 101,650 - 101,650 Operating lease right-of-use assets 2,581 - 2,581 Total assets 289,521 (491 ) 289,030 Accounts payable and accrued liabilities 25,529 - 25,529 Operating lease liabilities 825 - 825 Current tax liabilities 1,300 - 1,300 Other current liabilities 11,098 - 11,098 Non-current tax liabilities 8,096 - 8,096 Deferred tax liabilities 25,616 - 25,616 Non-current operating lease liabilities 1,756 - 1,756 Long-term borrowings 28,147 - 28,147 Total liabilities 102,367 - 102,367 Fair value of net assets acquired $ 187,154 $ (491 ) $ 186,663 Due to the recency of the Coretrax Acquisition, these amounts, including the estimated fair values, are based on preliminary calculations and subject to change as our fair value estimates and assumptions are finalized during the measurement period. The final fair value determination could result in material adjustments to the values presented in the preliminary purchase price allocation table above. The fair values of identifiable intangible assets were prepared using an income valuation approach, which requires a forecast of expected future cash flows either using the relief-from royalty method or the multi-period excess earnings method, which are discounted to approximate their current value. The estimated useful lives are based on management’s historical experience and expectations as to the duration of time that benefits from these assets are expected to be realized. The cost approach was used to determine the fair value of property, plant and equipment. The intangible assets will be amortized on a straight-line basis over an estimated 1 to 15 years life. We expect annual amortization to be approximately $8.9 million associated with these intangible assets. An associated deferred tax liability has been recorded for these intangible assets. Refer to Note 14 “Intangible assets, net” The goodwill related to the Coretrax Acquisition consists largely of the synergies and economies of scale expected from the acquired technology and customer relationships and contracts. The goodwill is not Revenue and earnings of the acquirees The results of operations for the Coretrax Acquisition since the Coretrax Closing Date have been included in our unaudited condensed consolidated financial statements for the three nine September 30, 2024. three nine September 30, 2024. Supplemental pro forma financial information The Company has determined the estimated unaudited pro forma financial information to be immaterial for the three nine September 30, 2024 2023, January 1, 2023. not

Note 4 - Fair Value Measurement

Note 4 - Fair Value Measurements	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Fair Value Disclosures [Text Block]	4. Fair value measurements Recurring Basis A summary of financial assets and liabilities that are measured at fair value on a recurring basis, as of September 30, 2024 December 31, 2023 September 30, 2024 Level 1 Level 2 Level 3 Total Assets: Non-current accounts receivable, net $ - $ 8,008 $ - $ 8,008 Liabilities: Contingent consideration - 29,694 29,694 Borrowings - 121,775 - 121,775 Finance lease liabilities - 17,322 - 17,322 December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Non-current accounts receivable, net $ - $ 9,768 $ - $ 9,768 Liabilities: Contingent consideration - - 24,705 24,705 Borrowings - 20,701 - 20,701 Finance lease liabilities - 18,377 - 18,377 We have certain contingent consideration assets and liabilities related to acquisitions which are measured at fair value using Level 3

Note 5 - Business Segment Repor

Note 5 - Business Segment Reporting	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	5. Business segment reporting Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s Chief Operating Decision Maker (“CODM”), which is our Chief Executive Officer, in deciding how to allocate resources and assess performance. Our CODM manages our operational segments that are aligned with our geographical regions as below: • North and Latin America (“NLA”), • Europe and Sub-Saharan Africa (“ESSA”), • Middle East and North Africa (“MENA”), and • Asia-Pacific (“APAC”). The following table presents our revenue disaggregated by our operating segments (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 NLA $ 139,397 $ 105,252 $ 426,776 $ 366,310 ESSA 131,475 135,395 421,652 387,105 MENA 86,736 58,057 239,659 168,165 APAC 65,220 71,114 187,872 184,434 Total $ 422,828 $ 369,818 $ 1,275,959 $ 1,106,014 Segment EBITDA Our CODM regularly evaluates the performance of our operating segments using Segment EBITDA, which we define as income (loss) before income taxes adjusted for corporate costs, equity in income of joint ventures, depreciation and amortization expense, impairment expense, gain (loss) on disposal of assets, merger and integration expense, severance and other expense, stock-based compensation expense, foreign exchange gains (losses), other income (expense), net, and interest and finance income (expense), net. The following table presents our Segment EBITDA disaggregated by our operating segments and a reconciliation to income before income taxes (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 NLA $ 33,064 $ 19,967 $ 111,915 $ 88,544 ESSA 32,175 39,268 92,373 95,017 MENA 30,032 16,871 83,181 49,930 APAC 16,193 (4,286 ) 42,227 (3,532 ) Total Segment EBITDA 111,464 71,820 329,696 229,959 Corporate costs (30,669 ) (24,070 ) (95,605 ) (73,961 ) Equity in income of joint ventures 4,241 2,495 12,955 7,736 Depreciation and amortization expense (40,391 ) (37,414 ) (121,184 ) (109,386 ) Merger and integration expense (1,437 ) (817 ) (12,387 ) (4,332 ) Severance and other expense (3,181 ) (1,897 ) (8,007 ) (5,487 ) Stock-based compensation expense (6,831 ) (4,934 ) (19,251 ) (14,682 ) Foreign exchange loss (2,838 ) (4,260 ) (11,028 ) (4,630 ) Other income (expense), net 262 (1,129 ) 1,081 (3,540 ) Interest and finance expense, net (3,895 ) (373 ) (10,713 ) (1,688 ) Income (loss) before income taxes $ 26,725 $ (579 ) $ 65,557 $ 19,989 Corporate costs include the costs of running our corporate head office and other central functions that support the operating segments, including research, engineering and development, logistics, sales and marketing and health and safety and are not

Note 6 - Revenue

Note 6 - Revenue	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	6. Revenue Disaggregation of revenue We disaggregate our revenue from contracts with customers by geography, as disclosed in Note 5 Business segment reporting The following table sets forth the total amount of revenue by main area of capabilities as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Well construction $ 159,268 $ 116,293 $ 427,775 $ 388,277 Well management 263,560 253,525 848,184 717,737 Total $ 422,828 $ 369,818 $ 1,275,959 $ 1,106,014 Contract balances We perform our obligations under contracts with our customers by transferring services and products in exchange for consideration. The timing of our performance often differs from the timing of our customer’s payment, which results in the recognition of unbilled receivables and deferred revenue. Unbilled receivables are initially recognized for revenue earned on completion of the performance obligation which are not Contract balances consisted of the following as of September 30, 2024 December 31, 2023 September 30, December 31, 2024 2023 Trade receivable, net $ 354,039 $ 222,591 Unbilled receivables (included within accounts receivable, net) $ 169,656 $ 203,689 Contract assets (included within accounts receivable, net) $ 16,782 $ 52,607 Deferred revenue (included within other liabilities) $ 16,051 $ 27,206 Contract assets include unbilled amounts resulting from sales under our long-term construction-type contracts when revenue recognized exceeds the amount billed to the customer and right to payment is conditional or subject to completing a milestone, such as a phase of the project. Contract assets are not not one The Company recognized revenue during the three nine September 30, 2024 three nine September 30, 2023 As of September 30, 2024 Transaction price allocated to remaining performance obligations Remaining performance obligations represent firm contracts for which work has not one

Note 7 - Income Taxes

Note 7 - Income Taxes	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	7. Income taxes For interim financial reporting, the annual tax rate is based on pre-tax income (loss) before equity in income of joint ventures. We have historically calculated the income tax expense/(benefit) during interim reporting periods by applying a full year estimated Annual Effective Tax Rate (“AETR”) to income (loss) before income taxes, excluding infrequent or unusual discrete items, for the reporting period. For the nine September 30, 2024 not nine September 30, 2024 Our effective tax rates were 46.5% and 69.7% for the three nine September 30, 2024 three nine September 30, 2023 Our effective tax rate was impacted primarily due to changes in the mix of taxable profits between jurisdictions with different tax regimes, in particular in Asia Pacific, Latin America and in our ESSA region.

Note 8 - Investment in Joint Ve

Note 8 - Investment in Joint Ventures	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	8. Investment in joint ventures We have investments in two The carrying value of our investment in joint ventures as of September 30, 2024 December 31, 2023 September 30, December 31, 2024 2023 CETS $ 71,789 $ 62,704 PVD-Expro 3,748 3,698 Total $ 75,537 $ 66,402

Note 9 - Accounts Receivable, N

Note 9 - Accounts Receivable, Net	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	9. Accounts receivable, net Accounts receivable, net consisted of the following as of September 30, 2024 December 31, 2023 September 30, December 31, 2024 2023 Accounts receivable $ 559,746 $ 497,135 Less: Expected credit losses (19,269 ) (18,248 ) Total $ 540,477 $ 478,887 Current 532,469 469,119 Non – current 8,008 9,768 Total $ 540,477 $ 478,887

Note 10 - Inventories

Note 10 - Inventories	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	10. Inventories Inventories consisted of the following as of September 30, 2024 December 31, 2023 September 30, December 31, 2024 2023 Finished goods $ 14,727 $ 25,854 Raw materials, equipment spares and consumables 145,013 99,011 Work-in-progress 19,599 18,460 Total $ 179,339 $ 143,325

Note 11 - Other Assets and Liab

Note 11 - Other Assets and Liabilities	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Other Assets and Other Liabilities [Text Block]	11. Other assets and liabilities Other assets consisted of the following as of September 30, 2024 December 31, 2023 September 30, December 31, 2024 2023 Prepayments $ 31,465 28,725 Value-added tax receivables 28,111 20,622 Collateral deposits 644 1,886 Deposits 9,420 8,912 Other 14,473 10,566 Total $ 84,113 $ 70,711 Current 72,976 58,409 Non – current 11,137 12,302 Total $ 84,113 $ 70,711 Other liabilities consisted of the following as of September 30, 2024 December 31, 2023 September 30, December 31, 2024 2023 Deferred revenue $ 16,051 $ 27,206 Other tax and social security 32,354 34,004 Provisions 45,885 38,576 Contingent consideration 29,694 24,705 Other 18,583 17,855 Total $ 142,567 $ 142,346 Current 97,699 98,144 Non – current 44,868 44,202 Total $ 142,567 $ 142,346

Note 12 - Accounts Payable and

Note 12 - Accounts Payable and Accrued Liabilities	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	12. Accounts payable and accrued liabilities Accounts payable and accrued liabilities consisted of the following as of September 30, 2024 December 31, 2023 September 30, December 31, 2024 2023 Accounts payable – trade $ 133,077 $ 146,759 Accrued liabilities 140,486 112,521 Payroll, vacation and other employee benefits 40,386 43,924 Accruals for goods received not invoiced 12,698 22,921 Total $ 326,647 $ 326,125

Note 13 - Property, Plant and E

Note 13 - Property, Plant and Equipment, Net	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	13. Property, plant and equipment, net Property, plant and equipment, net consisted of the following as of September 30, 2024 December 31, 2023 September 30, December 31, 2024 2023 Cost: Land $ 22,176 $ 22,176 Land improvements 3,332 3,332 Buildings and lease hold improvements 103,469 100,404 Plant and equipment 1,075,994 971,178 1,204,971 1,097,090 Less: accumulated depreciation (668,983 ) (583,868 ) Total $ 535,988 $ 513,222 The carrying amount of our property, plant and equipment recognized in respect of assets held under finance leases as of September 30, 2024 December 31, 2023 September 30, December 31, 2024 2023 Cost: Buildings $ 23,590 $ 23,859 Plant and equipment 462 589 24,052 24,448 Less: accumulated amortization (11,648 ) (10,315 ) Total $ 12,404 $ 14,133 Depreciation expense relating to property, plant and equipment, including assets under finance leases, was $28.1 million and $86.0 million for the three nine September 30, 2024 three nine September 30, 2023 During the nine September 30, 2023

Note 14 - Intangible Assets, Ne

Note 14 - Intangible Assets, Net	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	14. Intangible assets, net The following table summarizes our intangible assets comprising of Customer Relationships & Contracts (“CR&C”), Trademarks, Technology and Software as of September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 September 30, 2024 Gross carrying amount Accumulated impairment and amortization Net book value Gross carrying amount Accumulated impairment and amortization Net book value Weighted average remaining life (years) CR&C $ 302,605 $ (158,111 ) $ 144,494 $ 256,835 $ (139,302 ) $ 117,533 7.5 Trademarks 64,244 (39,903 ) 24,341 58,977 (36,578 ) 22,399 5.4 Technology 229,022 (92,010 ) 137,012 179,154 (82,266 ) 96,888 11.5 Software 18,257 (15,651 ) 2,606 15,248 (12,352 ) 2,896 0.3 Total $ 614,128 $ (305,675 ) $ 308,453 $ 510,214 $ (270,498 ) $ 239,716 9.0 Amortization expense for intangible assets was $13.0 million and $35.2 million for the three nine September 30, 2024 three nine September 30, 2023 The following table summarizes the intangible assets which were acquired pursuant to the Coretrax Acquisition in 2024 Acquired Fair Value Weighted average life (years) Coretrax: CR&C $ 45,883 13.0 Trademarks 5,251 5.0 Software 648 1.0 Technology 49,868 10 15 Total $ 101,650 9.8 The following table summarizes the intangible assets which were acquired pursuant to the DeltaTek Acquisition and the PRT Acquisition during 2023 Acquired Fair Value Weighted average life (years) DeltaTek: CR&C $ 2,571 6.0 Trademarks 257 5.0 Technology 8,237 15.0 Total $ 11,065 12.7 PRT: CR&C $ 31,946 10.0 Trademarks 1,643 4.0 Technology 265 15.0 Total $ 33,854 9.8

Note 15 - Goodwill

Note 15 - Goodwill	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Goodwill Disclosure [Text Block]	15. Goodwill Our reporting units are our operating segments which are NLA, ESSA, MENA and APAC. The allocation of goodwill by operating segment as of September 30, 2024 December 31, 2023 September 30, December 31, 2024 2023 NLA $ 163,296 $ 139,512 ESSA 101,423 83,319 MENA 47,365 5,441 APAC 31,801 19,415 Total $ 343,885 $ 247,687 The following table summarizes the goodwill by operating segment which were acquired pursuant to the Coretrax Acquisition in 2024 Coretrax NLA $ 22,867 ESSA 18,104 MENA 41,924 APAC 12,387 Total $ 95,282 The following table summarizes the goodwill by operating segment which were acquired pursuant to the DeltaTek Acquisition and the PRT Acquisition during 2023 DeltaTek PRT NLA $ 2,445 $ 19,473 ESSA 3,261 - MENA 1,223 - APAC 1,222 - Total $ 8,151 $ 19,473 As of September 30, 2024 not nine September 30, 2024

Note 16 - Interest Bearing Loan

Note 16 - Interest Bearing Loans	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	16. Interest bearing loans On October 6, 2023, October 6, 2026. Borrowings under the Amended and Restated Facility Agreement bear interest at a rate per annum of Term SOFR (as defined in the Amended and Restated Facility Agreement), subject to a 0.00% floor, plus an applicable margin of 3.75% (which is subject to a margin ratchet which reduces the margin in 4 4 one third two The Amended and Restated Facility Agreement retains various undertakings and affirmative and negative covenants (with certain agreed amendments) which limit, subject to certain customary exceptions and thresholds, the Company and its subsidiaries’ ability to, among other things, ( 1 2 3 4 5 1.0 1.0 twelve September 30, 2024 On May 15, 2024, May 15, 2024, As of September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023

Note 17 - Commitments and Conti

Note 17 - Commitments and Contingencies	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	17. Commitments and contingencies Commercial Commitments During the normal course of business, we enter into commercial commitments in the form of letters of credit and bank guarantees to provide financial and performance assurance to third September 30, 2024 December 31, 2023 Contingencies Certain conditions may may one may If the assessment of a contingency indicates it is probable a material loss has been incurred and the amount of liability can be reasonably estimated, then the estimated liability would be accrued in our unaudited condensed consolidated financial statements. If the assessment indicates a potentially material loss contingency is not Loss contingencies considered remote are generally not no September 30, 2024 December 31, 2023 We have conducted an internal investigation of the operations of certain of the Company’s foreign subsidiaries in West Africa including possible violations of the U.S. Foreign Corrupt Practices Act, our policies and other applicable laws. In June 2016, first 2023, 2021 On April 26, 2023, 21C 1934 second 2023. Other than discussed above, we had no September 30, 2024 December 31, 2023

Note 18 - Post-retirement Benef

Note 18 - Post-retirement Benefits	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Retirement Benefits [Text Block]	18. Post-retirement benefits Amounts recognized in the unaudited condensed consolidated statements of operations in respect of the defined benefit schemes were as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Amortization of prior service credit $ 61 $ 61 $ 183 $ 183 Interest cost (1,585 ) (1,571 ) (4,763 ) (4,655 ) Expected return on plan assets 1,938 1,030 5,773 3,023 Total $ 414 $ (480 ) $ 1,193 $ (1,450 ) The Company contributed $1.4 million and $4.0 million for the three nine September 30, 2024 three nine September 30, 2023 Amortization of prior service credit, interest cost and expected return on plan assets have been recognized in “Other income, net” in the unaudited condensed consolidated statements of operations.

Note 19 - Earnings Per Share

Note 19 - Earnings Per Share	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	19. Earnings (loss) per share Basic earnings (loss) per share attributable to Company stockholders is calculated by dividing net income attributable to the Company by the weighted-average number of common shares outstanding for the period. Diluted earnings per share attributable to Company stockholders is computed by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding, assuming all potentially dilutive shares were issued. We apply the treasury stock method to determine the dilutive weighted average common shares represented by unvested restricted stock units, stock options and Employee Stock Purchase Program (“ESPP”) shares. The calculation of basic and diluted earnings (loss) per share attributable to Company stockholders for the three nine September 30, 2024 2023 Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income (loss) $ 16,275 $ (13,886 ) $ 28,884 $ (10,942 ) Basic weighted average number of shares outstanding 117,468 108,777 113,888 108,765 Effect of dilutive securities: Unvested restricted stock units 398 - 1,342 - ESPP shares 8 - 6 - Stock options 420 - 369 - Diluted weighted average number of shares outstanding 118,294 108,777 115,605 108,765 Total basic earnings (loss) per share $ 0.14 $ (0.13 ) $ 0.25 $ (0.10 ) Total diluted earnings (loss) per share $ 0.14 $ (0.13 ) $ 0.25 $ (0.10 ) Approximately 0.8 million and 0.6 million shares of unvested restricted stock units and stock to be issued pursuant to the ESPP have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive for the three nine September 30, 2023,

Note 20 - Related Party Disclos

Note 20 - Related Party Disclosures	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	20. Related party disclosures Our related parties consist primarily of CETS and PVD-Expro, the two May 24, 2023). three nine September 30, 2024 three nine September 30, 2023 three nine September 30, 2024 none three nine September 30, 2023 Additionally, we entered into various operating lease agreements to lease facilities with affiliated companies. Rent expense associated with our related party leases was $0.1 million and $0.4 million for the three nine September 30, 2024 three nine September 30, 2023 As of September 30, 2024 December 31, 2023 As of September 30, 2024 December 31, 2023, Tax Receivable Agreement Mosing Holdings, LLC, a Delaware limited liability company (“Mosing Holdings”), converted all of its shares of Frank’s International N.V. (“Frank’s”) Series A convertible preferred stock into shares of Frank’s common stock on August 26, 2016, The tax receivable agreement (the “Original TRA”) that Frank’s entered into with FICV and Mosing Holdings in connection with Frank’s initial public offering (“IPO”) generally provided for the payment by Frank’s to Mosing Holdings of 85% 15% In connection with the merger agreement providing for the Merger, Frank’s, FICV and Mosing Holdings entered into the Amended and Restated Tax Receivable Agreement, dated as of March 10, 2021 ( October 1, 2021, ten October 1, 2021

Note 21 - Stock-based Compensat

Note 21 - Stock-based Compensation	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Share-Based Payment Arrangement [Text Block]	21. Stock-based compensation The Company recognized no stock-based compensation expense attributable to the Management Incentive Plan (“MIP”) stock options during the three nine September 30, 2024 three nine September 30, 2023 Stock-based compensation expense relating to the Long-Term Incentive Plan (“LTIP”), including restricted stock units (“RSUs”) and performance restricted stock units (“PRSUs”) for the three nine September 30, 2024 three nine September 30, 2023 During the nine September 30, 2024 During the three nine September 30, 2024 three nine September 30, 2023

Note 22 - Supplemental Cash Flo

Note 22 - Supplemental Cash Flow	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	22. Supplemental cash flow Nine Months Ended September 30, 2024 2023 Supplemental disclosure of cash flow information: Cash paid for income taxes, net of refunds $ 34,091 $ 34,722 Cash paid for interest, net $ 8,070 $ 1,456 Change in accounts payable and accrued expenses related to capital expenditures $ 9,545 $ 1,432

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		5. Other Information Securities Trading Arrangements with Officers and Directors During the three September 30, 2024 no 10b5 1 10b5 1 408
Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation The unaudited condensed consolidated financial statements reflect the accounts of the Company and its subsidiaries. All intercompany balances and transactions, including unrealized profits arising from them, have been eliminated for purposes of preparing these unaudited condensed consolidated financial statements. Investments in which we do not The accompanying condensed consolidated financial statements have not not December 31, 2023 10 December 31, 2023 February 21, 2024 ( In the opinion of management, these unaudited condensed consolidated financial statements, which are prepared in accordance with the rules of the SEC and U.S. GAAP for interim financial reporting, included herein contain all adjustments necessary to present fairly our financial position as of September 30, 2024 s for the nine months ended September 30, 2024 2023 nine months ended September 30, 2024 2023 nine September 30, 2024 not may December 31, 2024 The unaudited condensed consolidated financial statements have been prepared on an historical cost basis using the United States dollar (“$” or “U.S. dollar”) as the reporting currency.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements Changes to U.S. GAAP are established by the Financial Accounting Standards Board (“FASB”) generally in the form of accounting standards updates (“ASUs”) to the FASB’s Accounting Standards Codification. In December 2023, 2023 09, 740 2023 09” 2023 09 2023 09 December 15, 2024. In November 2023, 2023 07, 280 2023 07” 2023 07 December 15, 2023 December 15, 2024. All other recently issued ASUs were assessed and were either determined to be not

Note 3 - Business Combination_2

Note 3 - Business Combinations and Dispositions (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Initial allocation of the consideration Measurement period adjustments Final allocation of the consideration Cash and cash equivalents $ 1,464 $ - $ 1,464 Accounts receivables, net 723 - 723 Inventories 183 - 183 Property, plant and equipment 642 - 642 Goodwill 7,157 994 8,151 Intangible assets 11,063 2 11,065 Other assets 27 - 27 Total assets 21,259 996 22,255 Accounts payable and accrued liabilities 245 2 247 Deferred tax liabilities 2,700 66 2,766 Other liabilities 831 (16 ) 815 Total Liabilities 3,776 52 3,828 Fair value of net assets acquired $ 17,483 $ 944 $ 18,427 Initial allocation of the consideration Measurement period adjustments Final allocation of the consideration Cash and cash equivalents $ 15,086 $ - $ 15,086 Accounts receivables, net 15,195 - 15,195 Other current assets 986 - 986 Property, plant and equipment 52,278 (619 ) 51,659 Goodwill 18,556 917 19,473 Intangible assets 33,940 (86 ) 33,854 Operating lease right-of-use assets 1,242 - 1,242 Total assets 137,283 212 137,495 Accounts payable and accrued liabilities 8,621 - 8,621 Operating lease liabilities 505 - 505 Other current liabilities 1,811 406 2,217 Non-current operating lease liabilities 678 - 678 Long-term borrowings 34,701 - 34,701 Total liabilities 46,316 406 46,722 Fair value of net assets acquired $ 90,967 $ (194 ) $ 90,773 Initial allocation of the consideration Measurement period adjustments Allocation of Cash and cash equivalents $ 9,315 $ - $ 9,315 Accounts receivables, net 31,414 - 31,414 Inventories 16,933 - 16,933 Other current assets 3,170 - 3,170 Property, plant and equipment 28,685 - 28,685 Goodwill 95,773 (491 ) 95,282 Intangible assets 101,650 - 101,650 Operating lease right-of-use assets 2,581 - 2,581 Total assets 289,521 (491 ) 289,030 Accounts payable and accrued liabilities 25,529 - 25,529 Operating lease liabilities 825 - 825 Current tax liabilities 1,300 - 1,300 Other current liabilities 11,098 - 11,098 Non-current tax liabilities 8,096 - 8,096 Deferred tax liabilities 25,616 - 25,616 Non-current operating lease liabilities 1,756 - 1,756 Long-term borrowings 28,147 - 28,147 Total liabilities 102,367 - 102,367 Fair value of net assets acquired $ 187,154 $ (491 ) $ 186,663

Note 4 - Fair Value Measureme_2

Note 4 - Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	September 30, 2024 Level 1 Level 2 Level 3 Total Assets: Non-current accounts receivable, net $ - $ 8,008 $ - $ 8,008 Liabilities: Contingent consideration - 29,694 29,694 Borrowings - 121,775 - 121,775 Finance lease liabilities - 17,322 - 17,322 December 31, 2023 Level 1 Level 2 Level 3 Total Assets: Non-current accounts receivable, net $ - $ 9,768 $ - $ 9,768 Liabilities: Contingent consideration - - 24,705 24,705 Borrowings - 20,701 - 20,701 Finance lease liabilities - 18,377 - 18,377

Note 5 - Business Segment Rep_2

Note 5 - Business Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 NLA $ 139,397 $ 105,252 $ 426,776 $ 366,310 ESSA 131,475 135,395 421,652 387,105 MENA 86,736 58,057 239,659 168,165 APAC 65,220 71,114 187,872 184,434 Total $ 422,828 $ 369,818 $ 1,275,959 $ 1,106,014
Reconciliation of Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization from Segments to Consolidated [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 NLA $ 33,064 $ 19,967 $ 111,915 $ 88,544 ESSA 32,175 39,268 92,373 95,017 MENA 30,032 16,871 83,181 49,930 APAC 16,193 (4,286 ) 42,227 (3,532 ) Total Segment EBITDA 111,464 71,820 329,696 229,959 Corporate costs (30,669 ) (24,070 ) (95,605 ) (73,961 ) Equity in income of joint ventures 4,241 2,495 12,955 7,736 Depreciation and amortization expense (40,391 ) (37,414 ) (121,184 ) (109,386 ) Merger and integration expense (1,437 ) (817 ) (12,387 ) (4,332 ) Severance and other expense (3,181 ) (1,897 ) (8,007 ) (5,487 ) Stock-based compensation expense (6,831 ) (4,934 ) (19,251 ) (14,682 ) Foreign exchange loss (2,838 ) (4,260 ) (11,028 ) (4,630 ) Other income (expense), net 262 (1,129 ) 1,081 (3,540 ) Interest and finance expense, net (3,895 ) (373 ) (10,713 ) (1,688 ) Income (loss) before income taxes $ 26,725 $ (579 ) $ 65,557 $ 19,989

Note 6 - Revenue (Tables)

Note 6 - Revenue (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Well construction $ 159,268 $ 116,293 $ 427,775 $ 388,277 Well management 263,560 253,525 848,184 717,737 Total $ 422,828 $ 369,818 $ 1,275,959 $ 1,106,014
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	September 30, December 31, 2024 2023 Trade receivable, net $ 354,039 $ 222,591 Unbilled receivables (included within accounts receivable, net) $ 169,656 $ 203,689 Contract assets (included within accounts receivable, net) $ 16,782 $ 52,607 Deferred revenue (included within other liabilities) $ 16,051 $ 27,206

Note 8 - Investment in Joint _2

Note 8 - Investment in Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Equity Method Investments [Table Text Block]	September 30, December 31, 2024 2023 CETS $ 71,789 $ 62,704 PVD-Expro 3,748 3,698 Total $ 75,537 $ 66,402

Note 9 - Accounts Receivable,_2

Note 9 - Accounts Receivable, Net (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	September 30, December 31, 2024 2023 Accounts receivable $ 559,746 $ 497,135 Less: Expected credit losses (19,269 ) (18,248 ) Total $ 540,477 $ 478,887 Current 532,469 469,119 Non – current 8,008 9,768 Total $ 540,477 $ 478,887

Note 10 - Inventories (Tables)

Note 10 - Inventories (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30, December 31, 2024 2023 Finished goods $ 14,727 $ 25,854 Raw materials, equipment spares and consumables 145,013 99,011 Work-in-progress 19,599 18,460 Total $ 179,339 $ 143,325

Note 11 - Other Assets and Li_2

Note 11 - Other Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Other Assets [Table Text Block]	September 30, December 31, 2024 2023 Prepayments $ 31,465 28,725 Value-added tax receivables 28,111 20,622 Collateral deposits 644 1,886 Deposits 9,420 8,912 Other 14,473 10,566 Total $ 84,113 $ 70,711 Current 72,976 58,409 Non – current 11,137 12,302 Total $ 84,113 $ 70,711
Other Liabilities [Table Text Block]	September 30, December 31, 2024 2023 Deferred revenue $ 16,051 $ 27,206 Other tax and social security 32,354 34,004 Provisions 45,885 38,576 Contingent consideration 29,694 24,705 Other 18,583 17,855 Total $ 142,567 $ 142,346 Current 97,699 98,144 Non – current 44,868 44,202 Total $ 142,567 $ 142,346

Note 12 - Accounts Payable an_2

Note 12 - Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	September 30, December 31, 2024 2023 Accounts payable – trade $ 133,077 $ 146,759 Accrued liabilities 140,486 112,521 Payroll, vacation and other employee benefits 40,386 43,924 Accruals for goods received not invoiced 12,698 22,921 Total $ 326,647 $ 326,125

Note 13 - Property, Plant and_2

Note 13 - Property, Plant and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, December 31, 2024 2023 Cost: Land $ 22,176 $ 22,176 Land improvements 3,332 3,332 Buildings and lease hold improvements 103,469 100,404 Plant and equipment 1,075,994 971,178 1,204,971 1,097,090 Less: accumulated depreciation (668,983 ) (583,868 ) Total $ 535,988 $ 513,222
Property, Plant, and Equipment Held Under Finance Lease [Table Text Block]	September 30, December 31, 2024 2023 Cost: Buildings $ 23,590 $ 23,859 Plant and equipment 462 589 24,052 24,448 Less: accumulated amortization (11,648 ) (10,315 ) Total $ 12,404 $ 14,133

Note 14 - Intangible Assets, _2

Note 14 - Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2024 December 31, 2023 September 30, 2024 Gross carrying amount Accumulated impairment and amortization Net book value Gross carrying amount Accumulated impairment and amortization Net book value Weighted average remaining life (years) CR&C $ 302,605 $ (158,111 ) $ 144,494 $ 256,835 $ (139,302 ) $ 117,533 7.5 Trademarks 64,244 (39,903 ) 24,341 58,977 (36,578 ) 22,399 5.4 Technology 229,022 (92,010 ) 137,012 179,154 (82,266 ) 96,888 11.5 Software 18,257 (15,651 ) 2,606 15,248 (12,352 ) 2,896 0.3 Total $ 614,128 $ (305,675 ) $ 308,453 $ 510,214 $ (270,498 ) $ 239,716 9.0
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	Acquired Fair Value Weighted average life (years) Coretrax: CR&C $ 45,883 13.0 Trademarks 5,251 5.0 Software 648 1.0 Technology 49,868 10 15 Total $ 101,650 9.8 Acquired Fair Value Weighted average life (years) DeltaTek: CR&C $ 2,571 6.0 Trademarks 257 5.0 Technology 8,237 15.0 Total $ 11,065 12.7 PRT: CR&C $ 31,946 10.0 Trademarks 1,643 4.0 Technology 265 15.0 Total $ 33,854 9.8

Note 15 - Goodwill (Tables)

Note 15 - Goodwill (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Goodwill [Table Text Block]	September 30, December 31, 2024 2023 NLA $ 163,296 $ 139,512 ESSA 101,423 83,319 MENA 47,365 5,441 APAC 31,801 19,415 Total $ 343,885 $ 247,687 Coretrax NLA $ 22,867 ESSA 18,104 MENA 41,924 APAC 12,387 Total $ 95,282 DeltaTek PRT NLA $ 2,445 $ 19,473 ESSA 3,261 - MENA 1,223 - APAC 1,222 - Total $ 8,151 $ 19,473

Note 18 - Post-retirement Ben_2

Note 18 - Post-retirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Net Benefit Costs [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Amortization of prior service credit $ 61 $ 61 $ 183 $ 183 Interest cost (1,585 ) (1,571 ) (4,763 ) (4,655 ) Expected return on plan assets 1,938 1,030 5,773 3,023 Total $ 414 $ (480 ) $ 1,193 $ (1,450 )

Note 19 - Earnings Per Share (T

Note 19 - Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net income (loss) $ 16,275 $ (13,886 ) $ 28,884 $ (10,942 ) Basic weighted average number of shares outstanding 117,468 108,777 113,888 108,765 Effect of dilutive securities: Unvested restricted stock units 398 - 1,342 - ESPP shares 8 - 6 - Stock options 420 - 369 - Diluted weighted average number of shares outstanding 118,294 108,777 115,605 108,765 Total basic earnings (loss) per share $ 0.14 $ (0.13 ) $ 0.25 $ (0.10 ) Total diluted earnings (loss) per share $ 0.14 $ (0.13 ) $ 0.25 $ (0.10 )

Note 22 - Supplemental Cash F_2

Note 22 - Supplemental Cash Flow (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block]	Nine Months Ended September 30, 2024 2023 Supplemental disclosure of cash flow information: Cash paid for income taxes, net of refunds $ 34,091 $ 34,722 Cash paid for interest, net $ 8,070 $ 1,456 Change in accounts payable and accrued expenses related to capital expenditures $ 9,545 $ 1,432

Note 1 - Business Description (

Note 1 - Business Description (Details Textual) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended	9 Months Ended
	Mar. 31, 2023 USD ($)	Sep. 30, 2024 shares	Sep. 30, 2023 USD ($) $ / shares shares	Oct. 25, 2023 USD ($)
Number of Countries in which Entity Operates		60
Stock Repurchase Program, Authorized Amount				$ 100,000
Treasury Stock, Shares, Acquired (in shares) | shares		0	600
Shares Acquired, Average Cost Per Share (in dollars per share) | $ / shares			$ 17.99
Treasury Stock, Value, Acquired, Cost Method	$ 10,011		$ 10,000

Note 3 - Business Combination_3

Note 3 - Business Combinations and Dispositions (Details Textual) - USD ($) $ in Thousands				1 Months Ended	3 Months Ended			5 Months Ended	9 Months Ended	11 Months Ended	12 Months Ended
	May 15, 2024	Oct. 02, 2023	Feb. 08, 2023	Jul. 31, 2024	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2024
Business Combination, Contingent Consideration, Liability					$ 29,694			$ 29,694	$ 29,694	$ 24,705	$ 29,694
Goodwill					343,885			343,885	343,885	247,687	343,885
DeltaTek Oil Tools Limited [Member]
Goodwill			$ 7,157		8,151		$ 8,200	8,151	8,151	8,151	8,151
Goodwill, Purchase Accounting Adjustments							$ 1,000			994
Finite-Lived Intangible Asset, Expected Amortization, Year One					$ 1,000			$ 1,000	$ 1,000		$ 1,000
DeltaTek Oil Tools Limited [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)					5 years			5 years	5 years		5 years
DeltaTek Oil Tools Limited [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)					15 years			15 years	15 years		15 years
DeltaTek Oil Tools Limited [Member] | Exploration and Production Services (Holdings) Limited [Member]
Business Combination, Consideration Transferred			18,400
Payments to Acquire Businesses, Gross			9,900
Business Combination, Consideration Transferred, Liabilities Incurred			8,500
DeltaTek Oil Tools Limited [Member] | Exploration and Production Services (Holdings) Limited [Member] | Other Liabilities [Member]
Business Combination, Contingent Consideration, Liability			$ 8,500
PRT Offshore [Member]
Business Combination, Consideration Transferred		$ 90,800
Payments to Acquire Businesses, Gross		21,600
Business Combination, Consideration Transferred, Liabilities Incurred		13,200
Business Combination, Contingent Consideration, Liability		13,200
Goodwill		18,556			$ 19,473			$ 19,473	$ 19,473		$ 19,473
Goodwill, Purchase Accounting Adjustments									900		917
Finite-Lived Intangible Asset, Expected Amortization, Year One						$ 3,300
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable		$ 40,900
Business Combination, Contingent Consideration, Asset										$ 1,500
Business Combination, Consideration Transferred, Net Working Capital Adjustment						$ 600
PRT Offshore [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)						5 years
PRT Offshore [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)						15 years
Coretrax [Member]
Business Combination, Consideration Transferred	$ 186,700
Payments to Acquire Businesses, Gross	31,300
Business Combination, Consideration Transferred, Liabilities Incurred	3,300
Business Combination, Contingent Consideration, Liability						$ 3,300
Goodwill	95,773				95,282			95,282	95,282		95,282
Goodwill, Purchase Accounting Adjustments								(491)
Finite-Lived Intangible Asset, Expected Amortization, Year One					8,900			$ 8,900	8,900		$ 8,900
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 142,800
Business Combination, Consideration Transferred, Net Working Capital Adjustment				$ (500)
Business Combination, Consideration Transferred, Settlement Of Contingent Consideration Arrangement				7,500
Business Combination, Pro Forma Information, Revenue of Acquiree since Acquisition Date, Actual					$ 33,100				$ 54,200
Coretrax [Member] | Stock Purchase Agreement with Sellers [Member]
Proceeds Upon Completion of Issuance of Escrow Shares				$ 8,000
Coretrax [Member] | Minimum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)					1 year			1 year	1 year		1 year
Coretrax [Member] | Maximum [Member]
Finite-Lived Intangible Asset, Useful Life (Year)					15 years			15 years	15 years		15 years

Note 3 - Business Combination_4

Note 3 - Business Combinations and Dispositions - Consideration Exchanged and Preliminary Allocation (Details) - USD ($) $ in Thousands	3 Months Ended	5 Months Ended	9 Months Ended	11 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2024	May 15, 2024	Oct. 02, 2023	Feb. 08, 2023
Goodwill		$ 343,885	$ 343,885	$ 247,687	$ 343,885
Coretrax [Member]
Cash and cash equivalents		9,315	9,315		9,315	$ 9,315
Accounts receivables, net		31,414	31,414		31,414	31,414
Inventories		16,933	16,933		16,933	16,933
Property, plant and equipment		28,685	28,685		28,685	28,685
Goodwill		95,282	95,282		95,282	95,773
Goodwill, Purchase Accounting Adjustments		(491)
Intangible assets		101,650	101,650		101,650	101,650
Total assets		289,030	289,030		289,030	289,521
Total assets, adjustment		(491)
Accounts payable and accrued liabilities		25,529	25,529		25,529	25,529
Deferred tax liabilities		25,616	25,616		25,616	25,616
Total Liabilities		102,367	102,367		102,367	102,367
Fair value of net assets acquired		186,663	186,663		186,663	187,154
Fair value of net assets acquired, adjustment		(491)
Other current assets		3,170	3,170		3,170	3,170
Operating lease right-of-use assets		2,581	2,581		2,581	2,581
Total assets		289,030	289,030		289,030	289,521
Total assets, adjustment		(491)
Operating lease liabilities		825	825		825	825
Other current liabilities		11,098	11,098		11,098	11,098
Non-current operating lease liabilities		1,756	1,756		1,756	1,756
Long-term borrowings		28,147	28,147		28,147	28,147
Current tax liabilities		1,300	1,300		1,300	1,300
Non-current tax liabilities		8,096	8,096		8,096	$ 8,096
DeltaTek Oil Tools Limited [Member]
Cash and cash equivalents				1,464				$ 1,464
Accounts receivables, net				723				723
Inventories				183				183
Property, plant and equipment				642				642
Goodwill	$ 8,200	8,151	8,151	8,151	8,151			7,157
Goodwill, Purchase Accounting Adjustments	$ 1,000			994
Intangible assets				11,065				11,063
Intangible assets, adjustment				2
Other assets				27				27
Total assets				22,255				21,259
Total assets, adjustment				996
Accounts payable and accrued liabilities				247				245
Accounts payable and accrued liabilities, adjustment				2
Deferred tax liabilities				2,766				2,700
Deferred tax liabilities, adjustment				66
Other liabilities				815				831
Other liabilities, adjustment				(16)
Total Liabilities				3,828				3,776
Total Liabilities, adjustment				52
Fair value of net assets acquired				18,427				17,483
Fair value of net assets acquired, adjustment				944
Total assets				22,255				$ 21,259
Total assets, adjustment				$ 996
PRT Offshore [Member]
Cash and cash equivalents		15,086	15,086		15,086		$ 15,086
Accounts receivables, net		15,195	15,195		15,195		15,195
Property, plant and equipment		51,659	51,659		51,659		52,278
Goodwill		19,473	19,473		19,473		18,556
Goodwill, Purchase Accounting Adjustments			900		917
Intangible assets		33,854	33,854		33,854		33,940
Intangible assets, adjustment					(86)
Total assets		137,495	137,495		137,495		137,283
Total assets, adjustment					212
Accounts payable and accrued liabilities		8,621	8,621		8,621		8,621
Total Liabilities		46,722	46,722		46,722		46,316
Total Liabilities, adjustment					406
Fair value of net assets acquired		90,773	90,773		90,773		90,967
Fair value of net assets acquired, adjustment					(194)
Other current assets		986	986		986		986
Property, plant and equipment					(619)
Operating lease right-of-use assets		1,242	1,242		1,242		1,242
Total assets		137,495	137,495		137,495		137,283
Total assets, adjustment					212
Operating lease liabilities		505	505		505		505
Other current liabilities		2,217	2,217		2,217		1,811
Other current liabilities, adjustment					406
Non-current operating lease liabilities		678	678		678		678
Long-term borrowings		$ 34,701	$ 34,701		$ 34,701		$ 34,701

Note 4 - Fair Value Measureme_3

Note 4 - Fair Value Measurements - Summary of Financial Assets and Liabilities Measured At Fair Value On a Recurring Basis (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Business Combination, Contingent Consideration, Liability	$ 29,694	$ 24,705
Long-Term Debt	121,065	20,000
Fair Value, Recurring [Member]
Non-current accounts receivable, net	8,008	9,768
Business Combination, Contingent Consideration, Liability	29,694	24,705
Long-Term Debt	121,775	20,701
Finance lease liabilities	17,322	18,377
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Non-current accounts receivable, net	0	0
Business Combination, Contingent Consideration, Liability		0
Long-Term Debt	0	0
Finance lease liabilities	0	0
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Non-current accounts receivable, net	8,008	9,768
Business Combination, Contingent Consideration, Liability	0	0
Long-Term Debt	121,775	20,701
Finance lease liabilities	17,322	18,377
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Non-current accounts receivable, net	0	0
Business Combination, Contingent Consideration, Liability	29,694	24,705
Long-Term Debt	0	0
Finance lease liabilities	$ 0	$ 0

Note 5 - Business Segment Rep_3

Note 5 - Business Segment Reporting - Revenue by Operating Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total revenue	$ 422,828	$ 369,818	$ 1,275,959	$ 1,106,014
NLA [Member]
Total revenue	139,397	105,252	426,776	366,310
ESSA [Member]
Total revenue	131,475	135,395	421,652	387,105
MENA [Member]
Total revenue	86,736	58,057	239,659	168,165
APAC [Member]
Total revenue	$ 65,220	$ 71,114	$ 187,872	$ 184,434

Note 5 - Business Segment Rep_4

Note 5 - Business Segment Reporting - Reconciliation of Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization From Segments to Net Loss (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total Segment EBITDA	$ 111,464	$ 71,820	$ 329,696	$ 229,959
Corporate costs	(30,669)	(24,070)	(95,605)	(73,961)
Equity in income of joint ventures	4,241	2,495	12,955	7,736
Depreciation and amortization expense	(40,391)	(37,414)	(121,184)	(109,386)
Merger and integration expense	(1,437)	(817)	(12,387)	(4,332)
Severance and other expense	(3,181)	(1,897)	(8,007)	(5,487)
Stock-based compensation expense	(6,831)	(4,934)	(19,251)	(14,682)
Foreign exchange loss	(2,838)	(4,260)	(11,028)	(4,630)
Other income (expense), net	262	(1,129)	1,081	(3,540)
Interest and finance expense, net	(3,895)	(373)	(10,713)	(1,688)
Income (loss) before income taxes	26,725	(579)	65,557	19,989
NLA [Member]
Total Segment EBITDA	33,064	19,967	111,915	88,544
ESSA [Member]
Total Segment EBITDA	32,175	39,268	92,373	95,017
MENA [Member]
Total Segment EBITDA	30,032	16,871	83,181	49,930
APAC [Member]
Total Segment EBITDA	$ 16,193	$ (4,286)	$ 42,227	$ (3,532)

Note 6 - Revenue (Details Textu

Note 6 - Revenue (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Contract with Customer, Liability, Revenue Recognized	$ 0.4	$ 6.3	$ 22.5	$ 48.6
Construction [Member]
Revenue, Remaining Performance Obligation, Amount	0.3		0.3
Other Current Liabilities [Member]
Contract with Customer, Liability, Current	$ 14.9		$ 14.9

Note 6 - Revenue - Revenue by A

Note 6 - Revenue - Revenue by Areas of Capability (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Total revenue	$ 422,828	$ 369,818	$ 1,275,959	$ 1,106,014
Well Construction [Member]
Total revenue	159,268	116,293	427,775	388,277
Well Management [Member]
Total revenue	$ 263,560	$ 253,525	$ 848,184	$ 717,737

Note 6 - Revenue - Contract Bal

Note 6 - Revenue - Contract Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts receivable, net	$ 540,477	$ 478,887
Contract assets (included within accounts receivable, net)	16,782	52,607
Deferred revenue (included within other liabilities)	16,051	27,206
Billed Revenues [Member]
Accounts receivable, net	354,039	222,591
Unbilled Revenues [Member]
Accounts receivable, net	$ 169,656	$ 203,689

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Effective Income Tax Rate Reconciliation, Percent	46.50%	432.90%	69.70%	252.40%

Note 8 - Investment in Joint _3

Note 8 - Investment in Joint Ventures (Details Textual)	Sep. 30, 2024
CETS [Member]
Equity Method Investment, Ownership Percentage	50%
PVD-Expro [Member]
Equity Method Investment, Ownership Percentage	49%

Note 8 - Investment in Joint _4

Note 8 - Investment in Joint Ventures - Carrying Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Carrying value	$ 75,537	$ 66,402
CETS [Member]
Carrying value	71,789	62,704
PVD-Expro [Member]
Carrying value	$ 3,748	$ 3,698

Note 9 - Accounts Receivable,_3

Note 9 - Accounts Receivable, Net - Summary of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts receivable	$ 559,746	$ 497,135
Less: Expected credit losses	(19,269)	(18,248)
Accounts receivable, net	540,477	478,887
Current	532,469	469,119
Non – current	$ 8,008	$ 9,768

Note 10 - Inventories - Summary

Note 10 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Finished goods	$ 14,727	$ 25,854
Raw materials, equipment spares and consumables	145,013	99,011
Work-in-progress	19,599	18,460
Total	$ 179,339	$ 143,325

Note 11 - Other Assets and Othe

Note 11 - Other Assets and Other Liabilities - Summary of Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Prepayments	$ 31,465	$ 28,725
Value-added tax receivables	28,111	20,622
Collateral deposits	644	1,886
Deposits	9,420	8,912
Other	14,473	10,566
Total	84,113	70,711
Current	72,976	58,409
Non – current	$ 11,137	$ 12,302

Note 11 - Other Assets and Ot_2

Note 11 - Other Assets and Other Liabilities - Summary of Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deferred revenue	$ 16,051	$ 27,206
Other tax and social security	32,354	34,004
Provisions	45,885	38,576
Contingent consideration	29,694	24,705
Other	18,583	17,855
Total	142,567	142,346
Current	97,699	98,144
Non – current	$ 44,868	$ 44,202

Note 12 - Accounts Payable an_3

Note 12 - Accounts Payable and Accrued Liabilities - Summary of Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts payable – trade	$ 133,077	$ 146,759
Accrued liabilities	140,486	112,521
Payroll, vacation and other employee benefits	40,386	43,924
Accruals for goods received not invoiced	12,698	22,921
Total	$ 326,647	$ 326,125

Note 13 - Property, Plant and_3

Note 13 - Property, Plant and Equipment, Net (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Depreciation, Depletion and Amortization	$ 40,391	$ 37,414	$ 121,184	$ 109,386
Building [Member]
Proceeds from Sale, Property, Held-for-Sale				2,000
Property, Plant and Equipment, Including Assets Under Finance Leases [Member]
Depreciation, Depletion and Amortization	$ 28,100	$ 27,900	$ 86,000	$ 81,200

Note 13 - Property, Plant and_4

Note 13 - Property, Plant and Equipment, Net - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Property, plant and equipment, gross	$ 1,204,971	$ 1,097,090
Less: accumulated depreciation	(668,983)	(583,868)
Property, plant and equipment, net	535,988	513,222
Land [Member]
Property, plant and equipment, gross	22,176	22,176
Land Improvements [Member]
Property, plant and equipment, gross	3,332	3,332
Buildings and Leasehold Improvement [Member]
Property, plant and equipment, gross	103,469	100,404
Plant and Equipment [Member]
Property, plant and equipment, gross	$ 1,075,994	$ 971,178

Note 13 - Property, Plant and_5

Note 13 - Property, Plant and Equipment, Net - Summary of Property, Plant and Equipment Held Under Finance Lease (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets under finance lease, gross	$ 24,052	$ 24,448
Less: accumulated amortization, assets under finance lease	(11,648)	(10,315)
Total	12,404	14,133
Building [Member]
Assets under finance lease, gross	23,590	23,859
Plant and Equipment [Member]
Assets under finance lease, gross	$ 462	$ 589

Note 14 - Intangible Assets, _3

Note 14 - Intangible Assets, Net (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Amortization of Intangible Assets	$ 13	$ 9.6	$ 35.2	$ 28.2

Note 14 - Intangible Assets, _4

Note 14 - Intangible Assets, Net - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Gross Carrying Amount	$ 614,128	$ 510,214
Accumulated Impairment and Amortization	(305,675)	(270,498)
Total intangible assets	$ 308,453	239,716
Weighted average remaining life (Year)	9 years
Customer Relationships [Member]
Gross Carrying Amount	$ 302,605	256,835
Accumulated Impairment and Amortization	(158,111)	(139,302)
Total intangible assets	$ 144,494	117,533
Weighted average remaining life (Year)	7 years 6 months
Trademarks [Member]
Gross Carrying Amount	$ 64,244	58,977
Accumulated Impairment and Amortization	(39,903)	(36,578)
Total intangible assets	$ 24,341	22,399
Weighted average remaining life (Year)	5 years 4 months 24 days
Technology-Based Intangible Assets [Member]
Gross Carrying Amount	$ 229,022	179,154
Accumulated Impairment and Amortization	(92,010)	(82,266)
Total intangible assets	$ 137,012	96,888
Weighted average remaining life (Year)	11 years 6 months
Computer Software, Intangible Asset [Member]
Gross Carrying Amount	$ 18,257	15,248
Accumulated Impairment and Amortization	(15,651)	(12,352)
Total intangible assets	$ 2,606	$ 2,896
Weighted average remaining life (Year)	3 months 18 days

Note 14 - Intangible Assets, _5

Note 14 - Intangible Assets, Net - Summary of Acquired Intangible Assets (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Coretrax [Member]
Acquired Fair Value	$ 101,650
Weighted average life (Year)	9 years 9 months 18 days
DeltaTek Oil Tools Limited [Member]
Acquired Fair Value	$ 11,065
Weighted average life (Year)	12 years 8 months 12 days
PRT Offshore [Member]
Acquired Fair Value	$ 33,854
Weighted average life (Year)	9 years 9 months 18 days
Customer Relationships [Member] | Coretrax [Member]
Acquired Fair Value	$ 45,883
Weighted average life (Year)	13 years
Customer Relationships [Member] | DeltaTek Oil Tools Limited [Member]
Acquired Fair Value	$ 2,571
Weighted average life (Year)	6 years
Customer Relationships [Member] | PRT Offshore [Member]
Acquired Fair Value	$ 31,946
Weighted average life (Year)	10 years
Trademarks [Member] | Coretrax [Member]
Acquired Fair Value	$ 5,251
Weighted average life (Year)	5 years
Trademarks [Member] | DeltaTek Oil Tools Limited [Member]
Acquired Fair Value	$ 257
Weighted average life (Year)	5 years
Trademarks [Member] | PRT Offshore [Member]
Acquired Fair Value	$ 1,643
Weighted average life (Year)	4 years
Computer Software, Intangible Asset [Member] | Coretrax [Member]
Acquired Fair Value	$ 648
Weighted average life (Year)	1 year
Technology-Based Intangible Assets [Member] | Coretrax [Member]
Acquired Fair Value	$ 49,868
Technology-Based Intangible Assets [Member] | Coretrax [Member] | Minimum [Member]
Weighted average life (Year)	10 years
Technology-Based Intangible Assets [Member] | Coretrax [Member] | Maximum [Member]
Weighted average life (Year)	15 years
Technology-Based Intangible Assets [Member] | DeltaTek Oil Tools Limited [Member]
Acquired Fair Value	$ 8,237
Weighted average life (Year)	15 years
Technology-Based Intangible Assets [Member] | PRT Offshore [Member]
Acquired Fair Value	$ 265
Weighted average life (Year)	15 years

Note 15 - Goodwill (Details Tex

Note 15 - Goodwill (Details Textual) $ in Thousands	9 Months Ended
	Sep. 30, 2024 USD ($)
Goodwill, Impairment Loss	$ 0

Note 15 - Goodwill - Summary of

Note 15 - Goodwill - Summary of Goodwill (Details) - USD ($) $ in Thousands	Sep. 30, 2024	May 15, 2024	Dec. 31, 2023	Oct. 02, 2023	Sep. 30, 2023	Feb. 08, 2023
Goodwill	$ 343,885		$ 247,687
Coretrax [Member]
Goodwill	95,282	$ 95,773
DeltaTek Oil Tools Limited [Member]
Goodwill	8,151		8,151		$ 8,200	$ 7,157
PRT Offshore [Member]
Goodwill	19,473			$ 18,556
NLA [Member]
Goodwill	163,296		139,512
NLA [Member] | Coretrax [Member]
Goodwill	22,867
NLA [Member] | DeltaTek Oil Tools Limited [Member]
Goodwill	2,445
NLA [Member] | PRT Offshore [Member]
Goodwill	19,473
ESSA [Member]
Goodwill	101,423		83,319
ESSA [Member] | Coretrax [Member]
Goodwill	18,104
ESSA [Member] | DeltaTek Oil Tools Limited [Member]
Goodwill	3,261
ESSA [Member] | PRT Offshore [Member]
Goodwill	0
MENA [Member]
Goodwill	47,365		5,441
MENA [Member] | Coretrax [Member]
Goodwill	41,924
MENA [Member] | DeltaTek Oil Tools Limited [Member]
Goodwill	1,223
MENA [Member] | PRT Offshore [Member]
Goodwill	0
APAC [Member]
Goodwill	31,801		$ 19,415
APAC [Member] | Coretrax [Member]
Goodwill	12,387
APAC [Member] | DeltaTek Oil Tools Limited [Member]
Goodwill	1,222
APAC [Member] | PRT Offshore [Member]
Goodwill	$ 0

Note 16 - Interest Bearing Lo_2

Note 16 - Interest Bearing Loans (Details Textual) - USD ($) $ in Thousands	May 15, 2024	Oct. 06, 2023	Sep. 30, 2024	Dec. 31, 2023
Long-Term Debt			$ 121,065	$ 20,000
New Credit Facility [Member]
Long-Term Debt			$ 121,100	20,000
Debt Instrument, Interest Rate, Effective Percentage			7.60%
New Credit Facility [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 340,000	$ 250,000
Line of Credit Facility, Ability to Increase Borrowing Capacity, Maximum Available		$ 350,000
Debt Instrument, SOFR Floor		0%
Line of Credit Facility, Unused Capacity, Commitment Fee Percentage		35%
Debt Instrument, Covenant, Minimum Interest Cover Ratio		4
Debt Instrument, Covenant, Maximum Net Leverage Ratio		2.5
Line of Credit Facility, Maximum Borrowing Capacity, Increase	90,000
Proceeds from Lines of Credit	76,100
New Credit Facility [Member] | Drawdowns as Loans [Member]
Line of Credit Facility, Maximum Borrowing Capacity	256,700
Debt Instrument, Basis Spread on Variable Rate		3.75%
Line of Credit Facility, Upfront Fee Percentage		0.50%
New Credit Facility [Member] | Drawdowns as Loans [Member] | One-third Drawn [Member]
Line of Credit Facility, Upfront Fee Percentage		0.25%
New Credit Facility [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 83,300
Debt Instrument, Basis Spread on Variable Rate		2.50%
Line of Credit Facility, Upfront Fee Percentage		0.40%
New Credit Facility [Member] | Bonds and Guarantees [Member]
Long-Term Debt			$ 49,100	$ 50,400

Note 17 - Commitments and Con_2

Note 17 - Commitments and Contingencies (Details Textual) - USD ($) $ in Millions	3 Months Ended	9 Months Ended	12 Months Ended
	Jun. 30, 2023	Sep. 30, 2024	Dec. 31, 2023	Mar. 31, 2024
Loss Contingency Accrual				$ 8
Payments for Legal Settlements	$ 8
Capital Addition Purchase Commitments [Member]
Long-Term Purchase Commitment, Amount		$ 43	$ 36.7

Note 18 - Post-retirement Ben_3

Note 18 - Post-retirement Benefits (Details Textual) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 1.4	$ 1.3	$ 4	$ 3.8

Note 18 - Post-retirement Ben_4

Note 18 - Post-retirement Benefits - Net Periodic Benefit Cost (Details) - UNITED KINGDOM - Pension Plan [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Amortization of prior service credit	$ 61	$ 61	$ 183	$ 183
Interest cost	(1,585)	(1,571)	(4,763)	(4,655)
Expected return on plan assets	1,938	1,030	5,773	3,023
Total	$ 414	$ (480)	$ 1,193	$ (1,450)

Note 19 - Earnings Per Share (D

Note 19 - Earnings Per Share (Details Textual) - shares shares in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	0.8	0.6

Note 19 - Earnings Per Share -

Note 19 - Earnings Per Share - Calculation of Basic and Diluted Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income (loss)	$ 16,275	$ 15,286	$ (2,677)	$ (13,886)	$ 9,295	$ (6,351)	$ 28,884	$ (10,942)
Basic (in shares)	117,467,994			108,777,429			113,887,885	108,764,599
Diluted weighted average number of shares outstanding (in shares)	118,293,677			108,777,429			115,605,215	108,764,599
Total basic earnings (loss) per share (in dollars per share)	$ 0.14			$ (0.13)			$ 0.25	$ (0.1)
Total diluted earnings (loss) per share (in dollars per share)	$ 0.14			$ (0.13)			$ 0.25	$ (0.1)
Employee Stock Purchase Plan [Member]
Share-Based Payment Arrangements (in shares)	8,000			0			6,000	0
Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangements (in shares)	398,000			0			1,342,000	0
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangements (in shares)	420,000			0			369,000	0

Note 20 - Related Party Discl_2

Note 20 - Related Party Disclosures (Details Textual) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended
	Oct. 01, 2021	Aug. 26, 2016	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Accounts Receivable, after Allowance for Credit Loss			$ 540,477		$ 540,477		$ 478,887
Operating Lease, Right-of-Use Asset			76,332		76,332		72,310
Corporate Joint Venture [Member]
Revenues			6,400	$ 2,200	12,700	$ 8,700
Corporate Joint Venture [Member] | Service [Member]
Related Party Transaction, Amounts of Transaction			100	0	100	400
Related Party [Member]
Operating Lease, Expense			100	$ 100	400	$ 300
Accounts Receivable, after Allowance for Credit Loss			800		800		2,700
Accounts Payable			100		100		1,200
Operating Lease, Right-of-Use Asset			400		400		600
Operating Lease, Liability			$ 400		$ 400		$ 600
Affiliated Entity [Member] | Mosing Holdings [Member]
Percentage of Tax Benefits Realized Payable Under Tax Receivable Agreement		85%
Percentage of Tax Benefits Retained Under Tax Receivable Agreement		15%
Tax Receivable Agreement, Cash Payment for Settlement of Early Termination Payment Obligation	$ 15,000
Tax Receivable Agreement, Condition of Early Termination Payment Obligation Settlement, Period Over Which Future Contingent Payments May Be Made (Year)	10 years
Tax Receivable Agreement, Condition of Early Termination Payment Obligation Settlement, Future Contingent Payments, Cash Tax Savings Threshold	$ 18,100

Note 21 - Stock-based Compens_2

Note 21 - Stock-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement, Expense	$ 6,831	$ 4,934	$ 19,251	$ 14,682
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			1,190,827
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 19.73
Performance Restricted Stock Units [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)			308,412
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)			$ 26
Management Incentive Plan [Member]
Share-Based Payment Arrangement, Expense	0	200	$ 0	900
LTIP [Member] | RSU and PRSU [Member]
Share-Based Payment Arrangement, Expense	6,600	4,700	18,800	13,500
Employee Stock Purchase Plan [Member]
Share-Based Payment Arrangement, Expense	$ 200	$ 100	$ 500	$ 300

Note 22 - Supplemental Cash F_3

Note 22 - Supplemental Cash Flow - Supplemental Disclosure of Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Supplemental disclosure of cash flow information:
Cash paid for income taxes, net of refunds	$ 34,091	$ 34,722
Cash paid for interest, net	8,070	1,456
Change in accounts payable and accrued expenses related to capital expenditures	$ 9,545	$ 1,432