Expro (XPRO) 10-Q 5 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-36053
Entity Registrant Name	FRANK'S INTERNATIONAL N.V.
Entity Incorporation, State or Country Code	P7
Entity Tax Identification Number	98-1107145
Entity Address, Address Line One	Mastenmakersweg 1
Entity Address, Postal Zip Code	1786 PB
Entity Address, City or Town	Den Helder
Entity Address, Country	NL
City Area Code	22
Local Phone Number	367 0000
Title of 12(b) Security	Common Stock, €0.01 par value
Trading Symbol	FI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		225,503,348
Entity Central Index Key	0001575828
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 190,522	$ 186,212
Restricted cash	1,252	0
Short-term investments	0	26,603
Accounts receivables, net	179,169	189,414
Inventories, net	86,817	69,382
Assets held for sale	13,776	7,828
Other current assets	8,490	12,651
Total current assets	480,026	492,090
Property, plant and equipment, net	366,452	416,490
Goodwill	211,040	211,040
Intangible assets, net	22,527	31,069
Deferred tax assets, net	14,085	14,621
Operating lease right-of-use assets	32,423
Other assets	31,013	28,619
Total assets	1,157,566	1,193,929
Current liabilities:
Short-term debt	517	5,627
Accounts payable and accrued liabilities	116,455	123,981
Current portion of operating lease liabilities	7,848
Deferred revenue	226	116
Total current liabilities	125,046	129,724
Deferred tax liabilities	3,570	221
Non-current operating lease liabilities	24,576
Other non-current liabilities	28,340	29,212
Total liabilities	181,532	159,157
Commitments and contingencies (Note 15)
Stockholders’ equity:
Common stock, €0.01 par value, 798,096,000 shares authorized, 226,990,788 and 225,478,506 shares issued and 225,503,348 and 224,289,902 shares outstanding	2,846	2,829
Additional paid-in capital	1,072,768	1,062,794
Retained earnings (deficit)	(52,712)	16,860
Accumulated other comprehensive loss	(29,623)	(32,338)
Treasury stock (at cost), 1,487,440 and 1,188,604 shares	(17,245)	(15,373)
Total stockholders’ equity	976,034	1,034,772
Total liabilities and equity	$ 1,157,566	$ 1,193,929

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - € / shares	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Common stock, par value per share (in EUR per share)	€ 0.01	€ 0.01
Common stock, shares authorized (in shares)	798,096,000	798,096,000
Common stock, shares, issued (in shares)	226,990,788	225,478,506
Common stock, shares, outstanding (in shares)	225,503,348	224,289,902
Treasury stock, shares at cost (in shares)	1,487,440	1,188,604

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue:
Revenue	$ 140,417,000	$ 128,986,000	$ 440,479,000	$ 376,640,000
Cost of revenue, exclusive of depreciation and amortization
General and administrative expenses	26,921,000	29,916,000	96,358,000	94,799,000
Depreciation and amortization	21,482,000	26,998,000	70,637,000	84,160,000
Severance and other charges (credits), net	5,222,000	(4,852,000)	6,492,000	(2,483,000)
(Gain) loss on disposal of assets	603,000	(2,242,000)	984,000	(1,790,000)
Operating loss	(14,803,000)	(13,591,000)	(47,611,000)	(72,280,000)
Other income (expense):
Tax receivable agreement (“TRA”) related adjustments	0	(1,170,000)	220,000	(5,282,000)
Other income, net	1,620,000	314,000	2,818,000	1,907,000
Interest income, net	563,000	866,000	1,757,000	2,419,000
Mergers and acquisition expense	0	0	0	(58,000)
Foreign currency loss	(3,872,000)	(879,000)	(4,050,000)	(3,442,000)
Total other income (expense)	(1,689,000)	(869,000)	745,000	(4,456,000)
Loss before income taxes	(16,492,000)	(14,460,000)	(46,866,000)	(76,736,000)
Income tax expense (benefit)	7,297,000	(7,461,000)	20,370,000	(1,901,000)
Net loss	$ (23,789,000)	$ (6,999,000)	$ (67,236,000)	$ (74,835,000)
Loss per common share:
Basic and diluted (in dollars per share)	$ (0.11)	$ (0.03)	$ (0.30)	$ (0.33)
Weighted average common shares outstanding:
Basic and diluted (in shares)	225,415	224,182	225,043	223,912
Services
Revenue:
Revenue	$ 119,572,000	$ 103,911,000	$ 362,069,000	$ 301,005,000
Cost of revenue, exclusive of depreciation and amortization
Cost of revenue	86,745,000	74,769,000	255,769,000	219,819,000
Products
Revenue:
Revenue	20,845,000	25,075,000	78,410,000	75,635,000
Cost of revenue, exclusive of depreciation and amortization
Cost of revenue	$ 14,247,000	$ 17,988,000	$ 57,850,000	$ 54,415,000

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME LOSS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net loss	$ (23,789)	$ (6,999)	$ (67,236)	$ (74,835)
Other comprehensive income (loss):
Foreign currency translation adjustments	371	95	1,079	(653)
Unrealized gain on marketable securities	0	28	0	110
Total other comprehensive income (loss)	371	123	1,079	(543)
Comprehensive loss	$ (23,418)	$ (6,876)	$ (66,157)	$ (75,378)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Deficit)	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Balance at beginning of period (in shares) at Dec. 31, 2017		223,289
Balance at beginning of period at Dec. 31, 2017	$ 1,115,901	$ 2,814	$ 1,050,873	$ 106,923	$ (30,972)	$ (13,737)
Increase (Decrease) in Stockholders' Equity
Net loss	(42,073)			(42,073)
Foreign currency translation adjustments	87				87
Change in marketable securities/ reclassification of marketable securities	(85)				(85)
Equity-based compensation expense	2,280		2,280
Common shares issued upon vesting of share-based awards (in shares)		601
Common shares issued upon vesting of share-based awards	0	$ 8	(8)
Common shares issued for employee stock purchase plan (in shares)		99
Common shares issued for employee stock purchase plan	561	$ 1	560
Treasury shares withheld (in shares)		(167)
Treasury shares withheld	(1,035)					(1,035)
Balance at end of period (in shares) at Mar. 31, 2018		223,822
Balance at end of period at Mar. 31, 2018	1,076,306	$ 2,823	1,053,705	65,520	(30,970)	(14,772)
Balance at beginning of period (in shares) at Dec. 31, 2017		223,289
Balance at beginning of period at Dec. 31, 2017	1,115,901	$ 2,814	1,050,873	106,923	(30,972)	(13,737)
Increase (Decrease) in Stockholders' Equity
Net loss	(74,835)
Foreign currency translation adjustments	(653)
Change in marketable securities/ reclassification of marketable securities	110
Balance at end of period (in shares) at Sep. 30, 2018		224,228
Balance at end of period at Sep. 30, 2018	1,049,183	$ 2,828	1,060,350	32,758	(31,515)	(15,238)
Balance at beginning of period (in shares) at Mar. 31, 2018		223,822
Balance at beginning of period at Mar. 31, 2018	1,076,306	$ 2,823	1,053,705	65,520	(30,970)	(14,772)
Increase (Decrease) in Stockholders' Equity
Net loss	(25,763)			(25,763)
Foreign currency translation adjustments	(835)				(835)
Change in marketable securities/ reclassification of marketable securities	167				167
Equity-based compensation expense	2,888		2,888
Common shares issued upon vesting of share-based awards (in shares)		247
Common shares issued upon vesting of share-based awards	0	$ 2	(2)
Common shares issued for employee stock purchase plan	1		1
Treasury shares withheld (in shares)		(31)
Treasury shares withheld	(182)					(182)
Balance at end of period (in shares) at Jun. 30, 2018		224,038
Balance at end of period at Jun. 30, 2018	1,052,582	$ 2,825	1,056,592	39,757	(31,638)	(14,954)
Increase (Decrease) in Stockholders' Equity
Net loss	(6,999)			(6,999)
Foreign currency translation adjustments	95				95
Change in marketable securities/ reclassification of marketable securities	28				28
Equity-based compensation expense	3,008		3,008
Common shares issued upon vesting of share-based awards (in shares)		90
Common shares issued upon vesting of share-based awards	0	$ 1	(1)
Common shares issued for employee stock purchase plan (in shares)		133
Common shares issued for employee stock purchase plan	753	$ 2	751
Treasury shares withheld (in shares)		(33)
Treasury shares withheld	(284)					(284)
Balance at end of period (in shares) at Sep. 30, 2018		224,228
Balance at end of period at Sep. 30, 2018	1,049,183	$ 2,828	1,060,350	32,758	(31,515)	(15,238)
Balance at beginning of period (in shares) at Dec. 31, 2018		224,290
Balance at beginning of period at Dec. 31, 2018	1,034,772	$ 2,829	1,062,794	16,860	(32,338)	(15,373)
Increase (Decrease) in Stockholders' Equity
Net loss	(28,287)			(28,287)
Foreign currency translation adjustments	250				250
Equity-based compensation expense	2,574		2,574
Common shares issued upon vesting of share-based awards (in shares)		720
Common shares issued upon vesting of share-based awards	0	$ 8	(8)
Common shares issued for employee stock purchase plan (in shares)		154
Common shares issued for employee stock purchase plan	692	$ 2	690
Treasury shares withheld (in shares)		(220)
Treasury shares withheld	(1,452)					(1,452)
Balance at end of period (in shares) at Mar. 31, 2019		224,944
Balance at end of period at Mar. 31, 2019	1,007,849	$ 2,839	1,066,050	(12,127)	(32,088)	(16,825)
Balance at beginning of period (in shares) at Dec. 31, 2018		224,290
Balance at beginning of period at Dec. 31, 2018	1,034,772	$ 2,829	1,062,794	16,860	(32,338)	(15,373)
Increase (Decrease) in Stockholders' Equity
Net loss	(67,236)
Foreign currency translation adjustments	1,079
Change in marketable securities/ reclassification of marketable securities	0
Balance at end of period (in shares) at Sep. 30, 2019		225,503
Balance at end of period at Sep. 30, 2019	976,034	$ 2,846	1,072,768	(52,712)	(29,623)	(17,245)
Balance at beginning of period (in shares) at Mar. 31, 2019		224,944
Balance at beginning of period at Mar. 31, 2019	1,007,849	$ 2,839	1,066,050	(12,127)	(32,088)	(16,825)
Increase (Decrease) in Stockholders' Equity
Net loss	(15,160)			(15,160)
Foreign currency translation adjustments	458				458
Change in marketable securities/ reclassification of marketable securities	0			(1,636)	1,636
Equity-based compensation expense	3,017		3,017
Common shares issued upon vesting of share-based awards (in shares)		186
Common shares issued upon vesting of share-based awards	0	$ 2	(2)
Treasury shares withheld (in shares)		(15)
Treasury shares withheld	(88)					(88)
Balance at end of period (in shares) at Jun. 30, 2019		225,115
Balance at end of period at Jun. 30, 2019	996,076	$ 2,841	1,069,065	(28,923)	(29,994)	(16,913)
Increase (Decrease) in Stockholders' Equity
Net loss	(23,789)			(23,789)
Foreign currency translation adjustments	371				371
Change in marketable securities/ reclassification of marketable securities	0
Equity-based compensation expense	2,647		2,647
Common shares issued upon vesting of share-based awards (in shares)		217
Common shares issued upon vesting of share-based awards	0	$ 2	(2)
Common shares issued for employee stock purchase plan (in shares)		236
Common shares issued for employee stock purchase plan	1,061	$ 3	1,058
Treasury shares withheld (in shares)		(65)
Treasury shares withheld	(332)					(332)
Balance at end of period (in shares) at Sep. 30, 2019		225,503
Balance at end of period at Sep. 30, 2019	$ 976,034	$ 2,846	$ 1,072,768	$ (52,712)	$ (29,623)	$ (17,245)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities
Net loss	$ (67,236)	$ (74,835)
Adjustments to reconcile net loss to cash from operating activities
Depreciation and amortization	70,637	84,160
Equity-based compensation expense	8,238	8,176
Amortization of deferred financing costs	274	0
Deferred tax provision	3,887	0
Provision for (recovery of) bad debts	(27)	68
(Gain) loss on disposal of assets	984	(1,790)
Changes in fair value of investments	(1,935)	(1,295)
Unrealized gain on derivative instruments	(349)	(442)
Loss on asset impairments	4,268	0
Other	(566)	0
Changes in operating assets and liabilities
Accounts receivable	9,872	(37,252)
Inventories	(14,191)	(3,470)
Other current assets	2,537	2,237
Other assets	179	204
Accounts payable and accrued liabilities	(7,844)	(10,249)
Deferred revenue	110	(346)
Other non-current liabilities	(353)	(560)
Net cash provided by (used in) operating activities	8,485	(35,394)
Cash flows from investing activities
Purchases of property, plant and equipment and intangibles	(26,979)	(14,557)
Proceeds from sale of assets	353	4,419
Proceeds from sale of investments	46,739	67,934
Purchase of investments	(20,304)	(67,011)
Net cash used in investing activities	(191)	(9,215)
Cash flows from financing activities
Repayments of borrowings	(5,110)	(4,289)
Treasury shares withheld for taxes	(1,874)	(1,501)
Proceeds from the issuance of ESPP shares	1,752	1,315
Deferred financing costs	(184)	(161)
Net cash used in financing activities	(5,416)	(4,636)
Effect of exchange rate changes on cash	2,684	2,357
Net increase (decrease) in cash, cash equivalents and restricted cash	5,562	(46,888)
Cash, cash equivalents and restricted cash at beginning of period	186,212	213,015
Cash, cash equivalents and restricted cash at end of period	$ 191,774	$ 166,127

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Nature of Business Frank’s International N.V. (“FINV”), a limited liability company organized under the laws of the Netherlands, is a global provider of highly engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. FINV provides services and products to leading exploration and production companies in both offshore and onshore environments with a focus on complex and technically demanding wells. Basis of Presentation The condensed consolidated financial statements of FINV for the three and nine months ended September 30, 2019 and 2018 include the activities of Frank’s International C.V. (“FICV”), Blackhawk Group Holdings, LLC (“Blackhawk”) and their wholly owned subsidiaries (collectively, the “Company,” “we,” “us” or “our”). All intercompany accounts and transactions have been eliminated for purposes of preparing these condensed consolidated financial statements. Our accompanying condensed consolidated financial statements have not been audited by our independent registered public accounting firm. The consolidated balance sheet at December 31, 2018 is derived from audited financial statements. However, certain information and footnote disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended December 31, 2018 , which are included in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 25, 2019 (“Annual Report”). In the opinion of management, these condensed consolidated financial statements, which have been prepared pursuant to the rules of the SEC and GAAP for interim financial reporting, reflect all adjustments, which consisted only of normal recurring adjustments that were necessary for a fair statement of the interim periods presented. The results of operations for interim periods are not necessarily indicative of those for a full year. The condensed consolidated financial statements have been prepared on a historical cost basis using the United States dollar as the reporting currency. Our functional currency is primarily the United States dollar. Reclassifications Certain prior-period amounts have been reclassified to conform to the current period’s presentation. These reclassifications had no impact on our operating income (loss), net income (loss), working capital, cash flows or total equity previously reported. During the first quarter of 2019, the Company changed its reportable segment structure. Please see Note 16—Segment Information for additional information. As part of the change in reportable segments, the Company also changed the classification of certain costs within the condensed consolidated statements of operations to reflect a change in presentation of the information used by the Company’s chief operating decision maker (“CODM”). Historically, and through December 31, 2018, certain direct and indirect costs related to operations were classified and reported as general and administrative expenses (“G&A”) and certain costs associated with our Tubular Running Services manufacturing operations were classified as cost of revenue, products (“COR – Products”). The historical classification was consistent with the information used by the CODM to assess the performance of the Company’s segments and make resource allocation decisions. As part of the change in reportable segments, and to provide the CODM with additional oversight over costs that directly support operations versus costs that are more general and administrative in nature, certain costs previously classified as G&A have been reclassified as cost of revenue – services (“COR – Services”). In addition, certain manufacturing costs previously classified as COR – Products have been reclassified to COR – Services as a result of the change in segment reporting. The following is a summary of reclassifications to previously reported amounts (in thousands): Three Months Ended September 30, 2018 As previously reported Reclassifications As currently reported Condensed Consolidated Statements of Operations Cost of revenue, exclusive of depreciation and amortization Services $ 65,726 $ 9,043 $ 74,769 Products 19,421 (1,433 ) 17,988 General and administrative expenses 37,526 (7,610 ) 29,916 Nine Months Ended September 30, 2018 As previously reported Reclassifications As currently reported Condensed Consolidated Statements of Operations Cost of revenue, exclusive of depreciation and amortization Services $ 193,951 $ 25,868 $ 219,819 Products 58,474 (4,059 ) 54,415 General and administrative expenses 116,608 (21,809 ) 94,799 Recent Accounting Pronouncements Changes to 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. We consider the applicability and impact of all accounting pronouncements. ASUs not listed below were assessed and were either determined to be not applicable or are expected to have immaterial impact on our consolidated financial position, results of operations and cash flows. In June 2018, the FASB issued new guidance which is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent with the accounting for employee share-based compensation. We adopted the guidance on January 1, 2019, and the adoption did not have a material impact on our consolidated financial statements. In June 2016, the FASB issued new accounting guidance for credit losses on financial instruments. The guidance includes the replacement of the “incurred loss” approach for recognizing credit losses on financial assets, including trade receivables, with a methodology that reflects expected credit losses, which considers historical and current information as well as reasonable and supportable forecasts. For public entities, the guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early application is permitted for all entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Management is evaluating the provisions of this new accounting guidance, including which period to adopt, and has not determined what impact the adoption will have on our consolidated financial statements. In February 2016, the FASB issued new accounting guidance for leases. We adopted the new lease standard effective January 1, 2019, using the modified retrospective approach. The modified retrospective approach provides a method for recording existing leases at adoption, including not restating comparative periods. In our financial statements, the comparative period continues to be reported under the accounting standards which were in effect for that period. Adoption of the new standard resulted in recording lease assets of $34.9 million , lease liabilities of $34.4 million and an adjustment to retained earnings of $0.7 million as of January 1, 2019. The standard had no impact on our net income (loss) and cash flows. We elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed us to carry forward the historical lease classification. In addition, we elected not to separate lease and non-lease components for all classes of leased assets. Also, leases with an initial term of 12 months or less are not recorded on the balance sheet.

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	Leases We have operating leases for real estate, vehicles and certain equipment. Our leases have remaining lease terms of less than one year to 14 years , some of which include options to extend the leases for up to 10 years , and some of which include options to terminate the leases within one year . At the present time, all of our leases are classified as operating leases. Our short-term lease expense was $1.0 million and $2.7 million for the three and nine months ended September 30, 2019 , respectively. The accounting for some of our leases may require significant judgment, which includes determining the incremental borrowing rates to utilize in our net present value calculation of lease payments for lease agreements, which do not provide an implicit rate, and assessing the likelihood of renewal or termination options. Three Months Ended Nine Months Ended Long-term Lease Cost (in thousands) September 30, 2019 September 30, 2019 Operating lease cost (a) $ 2,824 $ 8,803 Sublease income $ (136 ) $ (400 ) (a) Includes variable lease costs, which are immaterial. Three Months Ended Nine Months Ended Other Information (in thousands) September 30, 2019 September 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 2,202 $ 7,770 Right-of-use assets obtained in an exchange for lease obligations Operating leases $ 738 $ 4,239 Lease Term and Discount Rate September 30, 2019 Weighted average remaining lease term (years) Operating leases 6.26 Weighted average discount rate Operating leases 10.45% Maturity of Operating Lease Liabilities (in thousands) September 30, 2019 2019 $ 3,103 2020 9,857 2021 8,172 2022 6,244 2023 4,406 Thereafter 13,289 Total undiscounted lease payments 45,071 Less: interest 12,647 Present value of lease liabilities $ 32,424 Future minimum lease commitments under noncancelable operating leases with initial or remaining terms of one year or more at December 31, 2018 , were as follows (in thousands): Year Ending December 31, Amount 2019 $ 10,544 2020 9,120 2021 7,370 2022 6,006 2023 4,251 Thereafter 13,103 Total future lease commitments $ 50,394

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	9 Months Ended
	Sep. 30, 2019
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	Cash, Cash Equivalents and Restricted Cash Amounts reported in the condensed consolidated balance sheets and condensed consolidated statements of cash flows as cash, cash equivalents and restricted cash at September 30, 2019 and December 31, 2018 were as follows (in thousands): September 30, December 31, 2019 2018 Cash and cash equivalents $ 190,522 $ 186,212 Restricted cash 1,252 — Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 191,774 $ 186,212 Restricted cash consists of cash deposits that collateralize our credit card program.

Accounts Receivable, net

Accounts Receivable, net	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
Accounts Receivable, net	Accounts Receivable, net Accounts receivable at September 30, 2019 and December 31, 2018 were as follows (in thousands): September 30, December 31, 2019 2018 Trade accounts receivable, net of allowance of $3,816 and $3,925, respectively $ 122,684 $ 114,630 Unbilled receivables 34,066 54,591 Taxes receivable 18,649 15,762 Affiliated (1) 549 549 Other receivables 3,221 3,882 Total accounts receivable, net $ 179,169 $ 189,414 (1) Amounts represent expenditures on behalf of non-consolidated affiliates.

Inventories, net

Inventories, net	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Inventories, net	Inventories, net Inventories at September 30, 2019 and December 31, 2018 were as follows (in thousands): September 30, December 31, 2019 2018 Pipe and connectors, net of allowance of $18,758 and $21,270, respectively $ 26,049 $ 18,026 Finished goods, net of allowance of $868 and $1,354, respectively 29,420 22,608 Work in progress 4,529 8,285 Raw materials, components and supplies 26,819 20,463 Total inventories, net $ 86,817 $ 69,382

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	Property, Plant and Equipment The following is a summary of property, plant and equipment at September 30, 2019 and December 31, 2018 (in thousands): Estimated Useful Lives in Years September 30, December 31, Land — $ 31,438 $ 32,945 Land improvements 8-15 7,128 8,316 Buildings and improvements 13-39 115,141 125,088 Rental machinery and equipment 7 896,483 887,064 Machinery and equipment - other 7 60,571 61,796 Furniture, fixtures and computers 5 20,091 24,745 Automobiles and other vehicles 5 29,243 29,696 Leasehold improvements 7-15, or lease term if shorter 14,740 15,392 Construction in progress - machinery and equipment and land improvements — 68,743 65,152 1,243,578 1,250,194 Less: Accumulated depreciation (877,126 ) (833,704 ) Total property, plant and equipment, net $ 366,452 $ 416,490 During the first quarter of 2018, we sold a building classified as held for sale for $0.8 million and recorded an immaterial loss. During the second quarter of 2018, additional assets with a net book value of $4.5 million met the criteria to be classified as held for sale and were reclassified from property, plant and equipment to assets held for sale on our condensed consolidated balance sheet. During the third quarter of 2018, we sold a building classified as held for sale with a net book value of $0.3 million for $2.6 million . In addition, a building with a net book value of $5.0 million met the criteria to be classified as held for sale and was reclassified from property, plant and equipment to assets held for sale on our condensed consolidated balance sheet. During the first quarter of 2019, buildings with a net book value of $1.1 million met the criteria to be classified as held for sale and were reclassified from property, plant and equipment to assets held for sale on our condensed consolidated balance sheet. During the second quarter of 2019, we sold a building classified as held for sale for $0.2 million and recorded an immaterial loss. During the third quarter of 2019, an additional building met the criteria to be classified as held for sale and a $4.0 million impairment loss was recorded, which is included in severance and other charges (credits), net on our condensed consolidated statements of operations. The building's remaining net book value of $5.3 million was reclassified from property, plant and equipment to assets held for sale on our condensed consolidated balance sheets. The following table presents the depreciation and amortization expense associated with each line item for the three and nine months ended September 30, 2019 and 2018 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Services $ 18,224 $ 22,584 $ 60,636 $ 70,465 Products 376 1,051 1,235 3,319 General and administrative expenses 2,882 3,363 8,766 10,376 Total $ 21,482 $ 26,998 $ 70,637 $ 84,160

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets at September 30, 2019 and December 31, 2018 consisted of the following (in thousands): September 30, December 31, 2019 2018 Cash surrender value of life insurance policies (1) $ 26,467 $ 23,784 Deposits 2,118 2,269 Other 2,428 2,566 Total other assets $ 31,013 $ 28,619 (1) See Note 10—Fair Value Measurements for additional information.

Accounts Payable and Accrued Li

Accounts Payable and Accrued Liabilities	9 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Accounts Payable and Accrued Liabilities	Accounts Payable and Accrued Liabilities Accounts payable and accrued liabilities at September 30, 2019 and December 31, 2018 consisted of the following (in thousands): September 30, December 31, 2019 2018 Accounts payable $ 17,445 $ 28,045 Accrued compensation 24,761 30,822 Accrued property and other taxes 20,082 16,301 Accrued severance and other charges 499 2,328 Income taxes 17,619 12,075 Affiliated (1) 679 3,915 Accrued purchase orders and other 35,370 30,495 Total accounts payable and accrued liabilities $ 116,455 $ 123,981 (1) Represents amounts owed to non-consolidated affiliates.

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt Credit Facility Asset Based Revolving Credit Facility On November 5, 2018, FICV, Frank’s International, LLC and Blackhawk, as borrowers, and FINV, certain of FINV’s subsidiaries, including FICV, Frank’s International, LLC, Blackhawk, Frank’s International GP, LLC, Frank’s International, LP, Frank’s International LP B.V., Frank’s International Partners B.V., Frank’s International Management B.V., Blackhawk Intermediate Holdings, LLC, Blackhawk Specialty Tools, LLC, and Trinity Tool Rentals, L.L.C., as guarantors, entered into a 5 -year senior secured revolving credit facility (the “ABL Credit Facility”) with JPMorgan Chase Bank, N.A., as administrative agent (the “ABL Agent”), and other financial institutions as lenders with total commitments of $100.0 million including up to $15.0 million available for letters of credit. Subject to the terms of the ABL Credit Facility, we have the ability to increase the commitments to $200.0 million . The maximum amount that the Company may borrow under the ABL Credit Facility is subject to a borrowing base, which is based on a percentage of certain eligible accounts receivable and eligible inventory, subject to customary reserves and other adjustments. All obligations under the ABL Credit Facility are fully and unconditionally guaranteed jointly and severally by FINV’s subsidiaries, including FICV, Frank’s International, LLC, Blackhawk, Frank’s International GP, LLC, Frank’s International, LP, Frank’s International LP B.V., Frank’s International Partners B.V., Frank’s International Management B.V., Blackhawk Intermediate Holdings, LLC, Blackhawk Specialty Tools, LLC, and Trinity Tool Rentals, L.L.C., subject to customary exceptions and exclusions. In addition, the obligations under the ABL Credit Facility are secured by first priority liens on substantially all of the assets and property of the borrowers and guarantors, including pledges of equity interests in certain of FINV’s subsidiaries, subject to certain exceptions. Borrowings under the ABL Credit Facility bear interest at FINV’s option at either (a) the Alternate Base Rate ( “ ABR ” ) (as defined therein), calculated as the greatest of (i) the rate of interest publicly quoted by the Wall Street Journal, as the “prime rate,” subject to each increase or decrease in such prime rate effective as of the date such change occurs, (ii) the federal funds effective rate that is subject to a 0.00% interest rate floor plus 0.50% , and (iii) the one-month Adjusted LIBO Rate (as defined therein) plus 1.00% , or (b) the Adjusted LIBO Rate, plus, in each case, an applicable margin. The applicable interest rate margin ranges from 1.00% to 1.50% per annum for ABR loans and 2.00% to 2.50% per annum for Eurodollar loans and, in each case, is based on FINV’s leverage ratio. The unused portion of the ABL Credit Facility is subject to a commitment fee that varies from 0.250% to 0.375% per annum, according to average daily unused commitments under the ABL Credit Facility. Interest on Eurodollar loans is payable at the end of the selected interest period, but no less frequently than quarterly. Interest on ABR loans is payable monthly in arrears. The ABL Credit Facility contains various covenants and restrictive provisions which limit, subject to certain customary exceptions and thresholds, FINV’s ability to, among other things, (1) enter into asset sales; (2) incur additional indebtedness; (3) make investments, acquisitions, or loans and create or incur liens; (4) pay certain dividends or make other distributions and (5) engage in transactions with affiliates. The ABL Credit Facility also requires FINV to maintain a minimum fixed charge coverage ratio of 1.0 to 1.0 based on the ratio of (a) consolidated EBITDA (as defined therein) minus unfinanced capital expenditures to (b) Fixed Charges (as defined therein), when either (i) an event of default occurs under the ABL Credit Facility or (ii) availability under the ABL Credit Facility falls for at least two consecutive calendar days below the greater of (A) $12.5 million and (B) 15% of the lesser of the borrowing base and aggregate commitments (a “FCCR Trigger Event”). Accounts receivable received by FINV’s U.S. subsidiaries that are parties to the ABL Credit Facility will be deposited into deposit accounts subject to deposit control agreements in favor of the ABL Agent. After a FCCR Trigger Event, these deposit accounts would be subject to “springing” cash dominion. After a FCCR Trigger Event, the Company will be subject to compliance with the fixed charge coverage ratio and “springing” cash dominion until no default exists under the ABL Credit Facility and availability under the facility for the preceding thirty consecutive days has been equal to at least the greater of (x) $12.5 million and (y) 15% of the lesser of the borrowing base and the aggregate commitments. If FINV fails to perform its obligations under the agreement that results in an event of default, the commitments under the ABL Credit Facility could be terminated and any outstanding borrowings under the ABL Credit Facility may be declared immediately due and payable. The ABL Credit Facility also contains cross default provisions that apply to FINV’s other indebtedness. As of September 30, 2019 , FINV had no borrowings outstanding under the ABL Credit Facility, letters of credit outstanding of $6.5 million and availability of $55.0 million . Insurance Notes Payable In 2018, we entered into a note to finance our annual insurance premiums totaling $6.8 million . The note bears interest at an annual rate of 3.9% with a final maturity date in October 2019 . At September 30, 2019 and December 31, 2018 , the outstanding balance was $0.5 million and $5.6 million , respectively.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements We follow fair value measurement authoritative accounting guidance for measuring fair values of assets and liabilities in financial statements. We have consistently used the same valuation techniques for all periods presented. Please see Note 10 — Fair Value Measurements in our Annual Report for further discussion. A summary of financial assets and liabilities that are measured at fair value on a recurring basis, as of September 30, 2019 and December 31, 2018 , were as follows (in thousands): Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total September 30, 2019 Assets: Derivative financial instruments $ — $ 248 $ — $ 248 Investments: Cash surrender value of life insurance policies - deferred compensation plan — 26,467 — 26,467 Marketable securities - other 15 — — 15 Liabilities: Deferred compensation plan — 23,522 — 23,522 December 31, 2018 Assets: Investments: Cash surrender value of life insurance policies - deferred compensation plan $ — $ 23,784 $ — $ 23,784 Marketable securities - other 37 — — 37 Liabilities: Derivative financial instruments — 101 — 101 Deferred compensation plan — 23,663 — 23,663 Our derivative financial instruments consist of short-duration foreign currency forward contracts. The fair value of our derivative financial instruments is based on quoted market values including foreign exchange forward rates and interest rates. The fair value is computed by discounting the projected future cash flow amounts to present value. Derivative financial instruments are included in our condensed consolidated balance sheets in accounts receivables, net at September 30, 2019 and accounts payable and accrued liabilities at December 31, 2018 . Our investments associated with our deferred compensation plan consist primarily of the cash surrender value of life insurance policies and are included in other assets on the condensed consolidated balance sheets. Our investments change as a result of contributions, payments, and fluctuations in the market. Our liabilities associated with our deferred compensation plan are included in o ther non-current liabilities on the condensed consolidated balance sheets. Assets and liabilities, measured using significant observable inputs, are reported at fair value based on third-party broker statements, which are derived from the fair value of the funds’ underlying investments. We also have marketable securities in publicly traded equity securities as an indirect result of strategic investments. They are reported at fair value based on the price of the stock and are included in other assets on the condensed consolidated balance sheets. Assets and Liabilities Measured at Fair Value on a Non-recurring Basis We apply the provisions of the fair value measurement standard to our non-recurring, non-financial measurements including business combinations and assets identified as held for sale, as well as impairment related to goodwill and other long-lived assets. Other Fair Value Considerations The carrying values on our condensed consolidated balance sheets of our cash and cash equivalents, restricted cash, short-term investments, trade accounts receivable, other current assets, accounts payable and accrued liabilities and lines of credit approximate fair values due to their short maturities.

Derivatives

Derivatives	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives	Derivatives We enter into short-duration foreign currency forward derivative contracts to reduce the risk of foreign currency fluctuations. We use these instruments to mitigate our exposure to non-local currency operating working capital. We record these contracts at fair value on our condensed consolidated balance sheets. Although the derivative contracts will serve as an economic hedge of the cash flow of our currency exchange risk exposure, they are not formally designated as hedge contracts for hedge accounting treatment. Accordingly, any changes in the fair value of the derivative instruments during a period will be included in our condensed consolidated statements of operations. As of September 30, 2019 and December 31, 2018 , we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands): September 30, 2019 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 1,362 1.3220 12/16/2019 Euro 7,457 1.1130 12/16/2019 Norwegian krone 10,254 8.9717 12/16/2019 Pound sterling 16,089 1.2377 12/16/2019 December 31, 2018 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 2,248 1.3343 3/18/2019 Euro 6,967 1.1421 3/18/2019 Norwegian krone 7,713 8.5566 3/18/2019 Pound sterling 16,452 1.2655 3/18/2019 The following table summarizes the location and fair value amounts of all derivative contracts in the condensed consolidated balance sheets as of September 30, 2019 and December 31, 2018 (in thousands): Derivatives not Designated as Hedging Instruments Consolidated Balance Sheet Location September 30, 2019 December 31, 2018 Foreign currency contracts Accounts receivables, net $ 248 $ — Foreign currency contracts Accounts payable and accrued liabilities — (101 ) The following table summarizes the location and amounts of the realized and unrealized gains and losses on derivative contracts in the condensed consolidated statements of operations (in thousands): Three Months Ended Nine Months Ended September 30, September 30, Derivatives not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative Contracts 2019 2018 2019 2018 Unrealized gain (loss) on foreign currency contracts Other income, net $ 553 $ (323 ) $ 349 $ 442 Realized gain on foreign currency contracts Other income, net 1,059 447 1,471 572 Total net gain on foreign currency contracts $ 1,612 $ 124 $ 1,820 $ 1,014 Our derivative transactions are governed through International Swaps and Derivatives Association master agreements. These agreements include stipulations regarding the right of offset in the event that we or our counterparty default on our performance obligations. If a default were to occur, both parties have the right to net amounts payable and receivable into a single net settlement between parties. Our accounting policy is to offset derivative assets and liabilities executed with the same counterparty when a master netting arrangement exists. The following table presents the gross and net fair values of our derivatives at September 30, 2019 and December 31, 2018 (in thousands): Derivative Asset Positions Derivative Liability Positions September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Gross position - asset / (liability) $ 248 $ 113 $ — $ (214 ) Netting adjustment — (113 ) — 113 Net position - asset / (liability) $ 248 $ — $ — $ (101 )

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions We have engaged in certain transactions with other companies related to us by common ownership. We have entered into various operating leases to lease facilities from these affiliated companies. Rent expense associated with our related party leases was $0.6 million and $1.1 million for the three months ended September 30, 2019 and 2018 , respectively, and $2.0 million and $5.0 million for the nine months ended September 30, 2019 and 2018 , respectively. As of September 30, 2019 , $6.8 million of our operating lease right-of-use assets and $7.5 million of our lease liabilities were associated with related party leases. On November 2, 2018, Frank’s International, LLC entered into a purchase agreement with Mosing Ventures, LLC, Mosing Land & Cattle Company, LLC, Mosing Queens Row Properties, LLC, and 4-M Investments, each of which are companies related to us by common ownership (the “Mosing Companies”). Under the purchase agreement, we acquired real property that we previously leased from the Mosing Companies, and two additional properties located adjacent to those properties. The total purchase price was $37.0 million , including legal fees and closing adjustments for normal operating activity. The purchase closed on December 18, 2018. The properties are conveyed as-is, except that until 10 years following the Closing Date, the parties will continue to have certain rights and obligations under the terms of the agreements by which some of the purchased properties were acquired by the Mosing Companies at the time of our initial public offering. We made improvements on the purchased properties during the lease period, and the purchase price was calculated excluding the value of those improvements. As of the purchase closing, we no longer lease the acquired properties from the Mosing Companies. Tax Receivable Agreement Mosing Holdings and its permitted transferees converted all their Preferred Stock into shares of our common stock on a one -for-one basis on August 26, 2016, subject to customary conversion rate adjustments for stock splits, stock dividends and reclassifications and other similar transactions, by delivery of an equivalent portion of their interests in FICV to us (the “Conversion”). FICV made an election under Section 754 of the Internal Revenue Code. Pursuant to the Section 754 election, the Conversion resulted in an adjustment to the tax basis of the tangible and intangible assets of FICV with respect to the portion of FICV now held by FINV. These adjustments are allocated to FINV. The adjustments to the tax basis of the tangible and intangible assets of FICV described above would not have been available absent this Conversion. The basis adjustments may reduce the amount of tax that FINV would otherwise be required to pay in the future. These basis adjustments may also decrease gains (or increase losses) on future dispositions of certain capital assets to the extent tax basis is allocated to those capital assets. The TRA that we entered into with FICV and Mosing Holdings in connection with our initial public offering (“IPO”) generally provides for the payment by FINV of 85% of the amount of the actual reductions, if any, in payments of U.S. federal, state and local income tax or franchise tax (which reductions we refer to as “cash savings”) in periods after our IPO as a result of (i) the tax basis increases resulting from the Conversion and (ii) imputed interest deemed to be paid by us as a result of, and additional tax basis arising from, payments under the TRA. In addition, the TRA provides for payment by us of interest earned from the due date (without extensions) of the corresponding tax return to the date of payment specified by the TRA. The payments under the TRA will not be conditioned upon a holder of rights under the TRA having a continued ownership interest in either FICV or FINV. We will retain the remaining 15% of cash savings, if any. The estimation of the liability under the TRA is by its nature imprecise and subject to significant assumptions regarding the amount and timing of future taxable income. As of September 30, 2019 , FINV has a cumulative loss over the prior 36 -month period. Based on this history of losses, as well as uncertainty regarding the timing and amount of future taxable income, we are unable to conclude that there will be future cash savings that will lead to additional payouts under the TRA beyond the estimated $0.2 million as of September 30, 2019 . Additional TRA liability may be recognized in the future based on changes in expectations regarding the timing and likelihood of future cash savings. The payment obligations under the TRA are our obligations and are not obligations of FICV. The term of the TRA will continue until all such tax benefits have been utilized or expired, unless FINV elects to exercise its sole right to terminate the TRA early. If FINV elects to terminate the TRA early, which it may do so in its sole discretion, it would be required to make an immediate payment equal to the present value of the anticipated future tax benefits subject to the TRA (based upon certain assumptions and deemed events set forth in the TRA, including the assumption that it has sufficient taxable income to fully utilize such benefits and that any FICV interests that Mosing Holdings or its transferees own on the termination date are deemed to be exchanged on the termination date). Any early termination payment may be made significantly in advance of the actual realization, if any, of such future benefits. In addition, payments due under the TRA will be similarly accelerated following certain mergers or other changes of control. In these situations, FINV’s obligations under the TRA could have a substantial negative impact on our liquidity and could have the effect of delaying, deferring or preventing certain mergers, asset sales, other forms of business combinations or other changes of control. For example, if the TRA were terminated on September 30, 2019 , the estimated termination payment would be approximately $51.3 million (calculated using a discount rate of 4.94% ). The foregoing number is merely an estimate and the actual payment could differ materially. Because FINV is a holding company with no operations of its own, its ability to make payments under the TRA is dependent on the ability of its subsidiaries to make distributions to it in an amount sufficient to cover FINV’s obligations under such agreements. The ability of FINV’s subsidiaries to make such distributions will be subject to, among other things, the applicable provisions of Dutch law that may limit the amount of funds available for distribution and restrictions in our debt instruments. To the extent that FINV is unable to make payments under the TRA for any reason, except in the case of an acceleration of payments thereunder occurring in connection with an early termination of the TRA or certain mergers or change of control, such payments will be deferred and will accrue interest until paid, and FINV will be prohibited from paying dividends on its common stock.

Loss Per Common Share

Loss Per Common Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Loss Per Common Share	Loss Per Common Share Basic loss per common share is determined by dividing net loss by the weighted average number of common shares outstanding during the period. Diluted loss per share is determined by dividing net loss 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 and employee stock purchase plan (“ESPP”) shares. The following table summarizes the basic and diluted loss per share calculations (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Numerator Net loss $ (23,789 ) $ (6,999 ) $ (67,236 ) $ (74,835 ) Denominator Basic and diluted weighted average common shares (1) 225,415 224,182 225,043 223,912 Loss per common share: Basic and diluted $ (0.11 ) $ (0.03 ) $ (0.30 ) $ (0.33 ) (1) Approximate number of unvested restricted stock units and stock to be issued pursuant to the ESPP that have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive when results from operations are at a net loss position. 587 1,075 722 779

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim financial reporting, we estimate the annual tax rate based on projected pre-tax income (loss) for the full year and record a quarterly income tax provision (benefit) in accordance with accounting guidance for income taxes. As the year progresses, we refine the estimate of the year’s pre-tax income (loss) as new information becomes available. The continual estimation process often results in a change to the expected effective tax rate for the year. When this occurs, we adjust the income tax provision (benefit) during the quarter in which the change in estimate occurs so that the year-to-date provision reflects the most current expected annual tax rate. Our effective tax rate was (44.2)% and 51.6% for the three months ended September 30, 2019 and 2018 , respectively, and (43.5)% and 2.5% for the nine months ended September 30, 2019 and 2018 , respectively. The increase in tax rates compared to the same period last year is primarily the result of an increase in taxable income and a change in the jurisdiction mix resulting in additional revenue-based taxes during 2019. Also impacting the three months ending September 30, 2018 was a significant tax benefit recorded to update the estimated effective tax rate. Finally, the nine months ending September 30, 2019 included expense related to recording additional valuation allowances related to certain indefinite-lived intangibles. We are subject to tax in many U.S. and foreign jurisdictions. In many foreign jurisdictions we are taxed on bases other than income such as deemed profits or withholding taxes based on revenue. Consequently, the relationship between our pre-tax income and our income tax provision varies from period to period. We are under audit by certain foreign jurisdictions for the years 2008 - 2017. We do not expect the results of these audits to have any material effect on our financial statements. As of September 30, 2019 , there were no significant changes to our uncertain tax positions as reported in our audited financial statements for the year ended December 31, 2018

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies We are the subject of lawsuits and claims arising in the ordinary course of business from time to time. A liability is accrued when a loss is both probable and can be reasonably estimated. We had no material accruals for loss contingencies, individually or in the aggregate, as of September 30, 2019 and December 31, 2018 . We believe the probability is remote that the ultimate outcome of these matters would have a material adverse effect on our financial position, results of operations or cash flows. We are conducting an internal investigation of the operations of certain of our foreign subsidiaries in West Africa including possible violations of the U.S. Foreign Corrupt Practices Act (“FCPA”), our policies and other applicable laws. In June 2016, we voluntarily disclosed the existence of our extensive internal review to the SEC, the U.S. Department of Justice (“DOJ”) and other governmental entities. It is our intent to continue to fully cooperate with these agencies and any other applicable authorities in connection with any further investigation that may be conducted in connection with this matter. While our review has not indicated that there has been any material impact on our previously filed financial statements, we have continued to collect information and cooperate with the authorities, but at this time are unable to predict the ultimate resolution of these matters with these agencies. In addition, during the course of the investigation, we discovered historical business transactions (and bids to enter into business transactions) in certain countries that may have been subject to U.S. and other international sanctions. We disclosed this information to the U.S. Department of Commerce’s Bureau of Industry and Security, Office of Export Enforcement (“OEE”) and to the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) (as well as to the agencies involved in our ongoing investigation discussed above). We received a No Action Letter dated April 20, 2018 from OEE, stating that OEE had closed its investigation without taking further action. In addition, we received a No Action Letter dated April 23, 2018 from OFAC, stating that OFAC had closed its investigation without taking further action. As disclosed above, our investigation into possible violations of the FCPA remains ongoing, and we will continue to cooperate with the SEC, DOJ and other relevant governmental entities in connection therewith. At this time, we are unable to predict the ultimate resolution of these matters with these agencies, including any financial impact to us. Our board and management are committed to continuously enhancing our internal controls that support improved compliance and transparency throughout our global operations.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Segment Information	Segment Information Reporting Segments Operating segments are defined as components of an enterprise for which separate financial information is available that is regularly evaluated by the Company’s CODM in deciding how to allocate resources and assess performance. During 2018, changes to the Company’s organizational structure were internally announced. These changes allow each segment to operate as an “independent” business in order to drive accountability and streamline decision-making, while leveraging the advantages of our global infrastructure. During the first quarter of 2019, the Company’s CODM changed the information he regularly reviews to allocate resources and assess performance and we accordingly realigned our reporting segments into three reportable segments: Tubular Running Services (“TRS”) segment, Tubulars segment and Cementing Equipment (“CE”) segment. The TRS segment represents the prior International Services and U.S. Services segments, as well as the costs associated with manufacturing the TRS equipment. Corporate costs that were previously included in the International Services and U.S. Services segments are now included in a separate Corporate component. The Tubulars segment represents the prior Tubular Sales segment and the Drilling Technologies business which was previously included within the International Services and U.S. Services segments, less costs associated with TRS equipment manufacturing. The CE segment is comprised of the prior Blackhawk segment. In addition, regional support costs that were previously included in the International Services and U.S. Services segments are now allocated amongst the three current segments, generally based on revenue or headcount. We have revised our segment reporting to reflect our current management approach and recast prior periods to conform to the current segment presentation. The TRS segment provides tubular running services globally. Internationally, the TRS segment operates in the majority of the offshore oil and gas markets and also in several onshore regions with operations in approximately 50 countries on six continents. In the U.S., the TRS segment provides services in the active onshore oil and gas drilling regions, including the Permian Basin, Eagle Ford Shale, Haynesville Shale, Marcellus Shale and Utica Shale, and in the U.S. Gulf of Mexico. Our customers are primarily large exploration and production companies, including international oil and gas companies, national oil and gas companies, major independents and other oilfield service companies. The Tubulars segment designs, manufactures and distributes connectors and casing attachments for large outside diameter (“OD”) heavy wall pipe. Additionally, the Tubulars segment sells large OD pipe originally manufactured by various pipe mills, as plain end or fully fabricated with proprietary welded or thread-direct connector solutions and provides specialized fabrication and welding services in support of offshore deepwater projects, including drilling and production risers, flowlines and pipeline end terminations, as well as long-length tubular assemblies up to 400 feet in length. The Tubulars segment also specializes in the development, manufacture and supply of proprietary drilling tool solutions that focus on improving drilling productivity through eliminating or mitigating traditional drilling operational risks. The CE segment provides specialty equipment to enhance the safety and efficiency of rig operations. It provides specialized equipment, services and products utilized in the construction of the wellbore in both onshore and offshore environments. The product portfolio includes casing accessories that serve to improve the installation of casing, centralization and wellbore zonal isolation, as well as enhance cementing operations through advance wiper plug and float equipment technology. The CE segment also provides services and products utilized in the construction, completion or abandonment of the wellbore. These solutions are primarily used to isolate portions of the wellbore through the setting of barriers downhole to allow for rig evacuation in case of inclement weather, maintenance work on other rig equipment, squeeze cementing, pressure testing within the wellbore, hydraulic fracturing and temporary and permanent abandonments. These offerings improve operational efficiencies and limit non-productive time if unscheduled events are encountered at the wellsite. Revenue We disaggregate our revenue from contracts with customers by geography for each of our segments, as we believe this best depicts how the nature, amount, timing and uncertainty of our revenue and cash flows are affected by economic factors. Intersegment revenue is immaterial. The following tables presents our revenue disaggregated by geography, based on the location where our services were provided and products sold (in thousands): Three Months Ended September 30, 2019 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 34,903 $ 10,148 $ 20,044 $ 65,095 International 67,374 2,371 5,577 75,322 Total Revenue $ 102,277 $ 12,519 $ 25,621 $ 140,417 Three Months Ended September 30, 2018 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 36,817 $ 14,310 $ 19,096 $ 70,223 International 52,972 955 4,836 58,763 Total Revenue $ 89,789 $ 15,265 $ 23,932 $ 128,986 Nine Months Ended September 30, 2019 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 114,466 $ 45,163 $ 62,963 $ 222,592 International 192,505 8,347 17,035 217,887 Total Revenue $ 306,971 $ 53,510 $ 79,998 $ 440,479 Nine Months Ended September 30, 2018 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 101,117 $ 46,857 $ 54,568 $ 202,542 International 159,064 3,134 11,900 174,098 Total Revenue $ 260,181 $ 49,991 $ 66,468 $ 376,640 Revenue by geographic area were as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 United States $ 65,095 $ 70,223 $ 222,592 $ 202,542 Europe/Middle East/Africa 41,071 30,064 116,126 91,154 Latin America 19,181 11,984 56,520 32,441 Asia Pacific 9,727 8,934 27,753 26,200 Other countries 5,343 7,781 17,488 24,303 Total Revenue $ 140,417 $ 128,986 $ 440,479 $ 376,640 Adjusted EBITDA We define Adjusted EBITDA as net income (loss) before interest income, net, depreciation and amortization, income tax benefit or expense, asset impairments, gain or loss on disposal of assets, foreign currency gain or loss, equity-based compensation, unrealized and realized gain or loss, the effects of the TRA, other non-cash adjustments and other charges. We review Adjusted EBITDA on both a consolidated basis and on a segment basis. We use Adjusted EBITDA to assess our financial performance because it allows us to compare our operating performance on a consistent basis across periods by removing the effects of our capital structure (such as varying levels of interest expense), asset base (such as depreciation and amortization), income tax, foreign currency exchange rates and other charges and credits. Adjusted EBITDA has limitations as an analytical tool and should not be considered as an alternative to net income (loss), operating income (loss), cash flow from operating activities or any other measure of financial performance presented in accordance with GAAP. Our CODM uses Adjusted EBITDA as the primary measure of segment reporting performance. The following table presents a reconciliation of Segment Adjusted EBITDA to net loss (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Segment Adjusted EBITDA: Tubular Running Services $ 23,884 $ 17,070 $ 67,019 $ 40,876 Tubulars 456 1,541 8,502 8,461 Cementing Equipment 3,031 1,972 9,854 7,074 Corporate (1) (11,350 ) (8,967 ) (42,533 ) (36,001 ) 16,021 11,616 42,842 20,410 Interest income, net 563 866 1,757 2,419 Depreciation and amortization (21,482 ) (26,998 ) (70,637 ) (84,160 ) Income tax (expense) benefit (7,297 ) 7,461 (20,370 ) 1,901 Gain (loss) on disposal of assets (603 ) 2,242 (984 ) 1,790 Foreign currency loss (3,872 ) (879 ) (4,050 ) (3,442 ) TRA related adjustments — (1,170 ) 220 (5,282 ) Charges and credits (2) (7,119 ) (137 ) (16,014 ) (8,471 ) Net loss $ (23,789 ) $ (6,999 ) $ (67,236 ) $ (74,835 ) (1) Includes certain expenses not attributable to a particular segment, such as costs related to support functions and corporate executives. (2) Comprised of Equity-based compensation expense (for the three months ended September 30, 2019 and 2018 : $2,647 and $3,008 , respectively, and for the nine months ended September 30, 2019 and 2018 : $8,238 and $8,176 , respectively), Mergers and acquisition expense (for the three months ended September 30, 2019 and 2018 : none and none , respectively, and for the nine months ended September 30, 2019 and 2018 : none and $58 , respectively), Severance and other (charges) credits, net (for the three months ended September 30, 2019 and 2018 : $(5,222) and $4,852 , respectively, and for the nine months ended September 30, 2019 and 2018 : $(6,492) and $2,483 , respectively), Unrealized and realized gains (for the three months ended September 30, 2019 and 2018 : $1,382 and $360 , respectively, and for the nine months ended September 30, 2019 and 2018 : $2,073 and $1,521 , respectively) and Investigation-related matters (for the three months ended September 30, 2019 and 2018 : $632 and $2,341 , respectively, and for the nine months ended September 30, 2019 and 2018 : $3,357 and $4,241 , respectively). The following tables set forth certain financial information with respect to our reportable segments (in thousands): Tubular Running Services Tubulars Cementing Equipment Corporate Total Three Months Ended September 30, 2019 Revenue from external customers $ 102,277 $ 12,519 $ 25,621 $ — $ 140,417 Operating income (loss) 8,253 (377 ) (1,610 ) (21,069 ) (14,803 ) Adjusted EBITDA 23,884 456 3,031 (11,350 ) * Three Months Ended September 30, 2018 Revenue from external customers $ 89,789 $ 15,265 $ 23,932 $ — $ 128,986 Operating income (loss) 4,099 46 (2,226 ) (15,510 ) (13,591 ) Adjusted EBITDA 17,070 1,541 1,972 (8,967 ) * Nine Months Ended September 30, 2019 Revenue from external customers $ 306,971 $ 53,510 $ 79,998 $ — $ 440,479 Operating income (loss) 17,094 5,906 (4,744 ) (65,867 ) (47,611 ) Adjusted EBITDA 67,019 8,502 9,854 (42,533 ) * Nine Months Ended September 30, 2018 Revenue from external customers $ 260,181 $ 49,991 $ 66,468 $ — $ 376,640 Operating income (loss) (16,409 ) 5,702 (5,981 ) (55,592 ) (72,280 ) Adjusted EBITDA 40,876 8,461 7,074 (36,001 ) *

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements of FINV for the three and nine months ended September 30, 2019 and 2018 include the activities of Frank’s International C.V. (“FICV”), Blackhawk Group Holdings, LLC (“Blackhawk”) and their wholly owned subsidiaries (collectively, the “Company,” “we,” “us” or “our”). All intercompany accounts and transactions have been eliminated for purposes of preparing these condensed consolidated financial statements. Our accompanying condensed consolidated financial statements have not been audited by our independent registered public accounting firm. The consolidated balance sheet at December 31, 2018 is derived from audited financial statements. However, certain information and footnote disclosures required by generally accepted accounting principles in the United States of America (“GAAP”) for complete annual financial statements have been omitted and, therefore, these interim financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the year ended December 31, 2018 , which are included in our most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on February 25, 2019 (“Annual Report”). In the opinion of management, these condensed consolidated financial statements, which have been prepared pursuant to the rules of the SEC and GAAP for interim financial reporting, reflect all adjustments, which consisted only of normal recurring adjustments that were necessary for a fair statement of the interim periods presented. The results of operations for interim periods are not necessarily indicative of those for a full year. The condensed consolidated financial statements have been prepared on a historical cost basis using the United States dollar as the reporting currency. Our functional currency is primarily the United States dollar.
Reclassifications	Reclassifications Certain prior-period amounts have been reclassified to conform to the current period’s presentation. These reclassifications had no impact on our operating income (loss), net income (loss), working capital, cash flows or total equity previously reported.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Changes to 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. We consider the applicability and impact of all accounting pronouncements. ASUs not listed below were assessed and were either determined to be not applicable or are expected to have immaterial impact on our consolidated financial position, results of operations and cash flows. In June 2018, the FASB issued new guidance which is intended to simplify aspects of share-based compensation issued to non-employees by making the guidance consistent with the accounting for employee share-based compensation. We adopted the guidance on January 1, 2019, and the adoption did not have a material impact on our consolidated financial statements. In June 2016, the FASB issued new accounting guidance for credit losses on financial instruments. The guidance includes the replacement of the “incurred loss” approach for recognizing credit losses on financial assets, including trade receivables, with a methodology that reflects expected credit losses, which considers historical and current information as well as reasonable and supportable forecasts. For public entities, the guidance is effective for financial statements issued for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Early application is permitted for all entities for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. Management is evaluating the provisions of this new accounting guidance, including which period to adopt, and has not determined what impact the adoption will have on our consolidated financial statements. In February 2016, the FASB issued new accounting guidance for leases. We adopted the new lease standard effective January 1, 2019, using the modified retrospective approach. The modified retrospective approach provides a method for recording existing leases at adoption, including not restating comparative periods. In our financial statements, the comparative period continues to be reported under the accounting standards which were in effect for that period. Adoption of the new standard resulted in recording lease assets of $34.9 million , lease liabilities of $34.4 million and an adjustment to retained earnings of $0.7 million as of January 1, 2019. The standard had no impact on our net income (loss) and cash flows. We elected the package of practical expedients permitted under the transition guidance within the new standard, which allowed us to carry forward the historical lease classification. In addition, we elected not to separate lease and non-lease components for all classes of leased assets. Also, leases with an initial term of 12 months or less are not recorded on the balance sheet.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Reclassifications to Previously Reported Amounts	The following is a summary of reclassifications to previously reported amounts (in thousands): Three Months Ended September 30, 2018 As previously reported Reclassifications As currently reported Condensed Consolidated Statements of Operations Cost of revenue, exclusive of depreciation and amortization Services $ 65,726 $ 9,043 $ 74,769 Products 19,421 (1,433 ) 17,988 General and administrative expenses 37,526 (7,610 ) 29,916 Nine Months Ended September 30, 2018 As previously reported Reclassifications As currently reported Condensed Consolidated Statements of Operations Cost of revenue, exclusive of depreciation and amortization Services $ 193,951 $ 25,868 $ 219,819 Products 58,474 (4,059 ) 54,415 General and administrative expenses 116,608 (21,809 ) 94,799

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Schedule of Lease Cost and Other Information	Three Months Ended Nine Months Ended Long-term Lease Cost (in thousands) September 30, 2019 September 30, 2019 Operating lease cost (a) $ 2,824 $ 8,803 Sublease income $ (136 ) $ (400 ) (a) Includes variable lease costs, which are immaterial. Three Months Ended Nine Months Ended Other Information (in thousands) September 30, 2019 September 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Operating cash flows from operating leases $ 2,202 $ 7,770 Right-of-use assets obtained in an exchange for lease obligations Operating leases $ 738 $ 4,239 Lease Term and Discount Rate September 30, 2019 Weighted average remaining lease term (years) Operating leases 6.26 Weighted average discount rate Operating leases 10.45%
Schedule of Maturity of Lease Liabilities	Maturity of Operating Lease Liabilities (in thousands) September 30, 2019 2019 $ 3,103 2020 9,857 2021 8,172 2022 6,244 2023 4,406 Thereafter 13,289 Total undiscounted lease payments 45,071 Less: interest 12,647 Present value of lease liabilities $ 32,424
Schedule of Future Minimum Rental Payments for Operating Leases	Future minimum lease commitments under noncancelable operating leases with initial or remaining terms of one year or more at December 31, 2018 , were as follows (in thousands): Year Ending December 31, Amount 2019 $ 10,544 2020 9,120 2021 7,370 2022 6,006 2023 4,251 Thereafter 13,103 Total future lease commitments $ 50,394

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	9 Months Ended
	Sep. 30, 2019
Cash and Cash Equivalents [Abstract]
Schedule of Cash and Cash Equivalents	Amounts reported in the condensed consolidated balance sheets and condensed consolidated statements of cash flows as cash, cash equivalents and restricted cash at September 30, 2019 and December 31, 2018 were as follows (in thousands): September 30, December 31, 2019 2018 Cash and cash equivalents $ 190,522 $ 186,212 Restricted cash 1,252 — Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 191,774 $ 186,212
Restrictions on Cash and Cash Equivalents	Amounts reported in the condensed consolidated balance sheets and condensed consolidated statements of cash flows as cash, cash equivalents and restricted cash at September 30, 2019 and December 31, 2018 were as follows (in thousands): September 30, December 31, 2019 2018 Cash and cash equivalents $ 190,522 $ 186,212 Restricted cash 1,252 — Total cash, cash equivalents and restricted cash shown in the statements of cash flows $ 191,774 $ 186,212

Accounts Receivable, net (Table

Accounts Receivable, net (Tables)	9 Months Ended
	Sep. 30, 2019
Receivables [Abstract]
Schedule of Accounts Receivable	Accounts receivable at September 30, 2019 and December 31, 2018 were as follows (in thousands): September 30, December 31, 2019 2018 Trade accounts receivable, net of allowance of $3,816 and $3,925, respectively $ 122,684 $ 114,630 Unbilled receivables 34,066 54,591 Taxes receivable 18,649 15,762 Affiliated (1) 549 549 Other receivables 3,221 3,882 Total accounts receivable, net $ 179,169 $ 189,414 (1) Amounts represent expenditures on behalf of non-consolidated affiliates.

Inventories, net (Tables)

Inventories, net (Tables)	9 Months Ended
	Sep. 30, 2019
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories at September 30, 2019 and December 31, 2018 were as follows (in thousands): September 30, December 31, 2019 2018 Pipe and connectors, net of allowance of $18,758 and $21,270, respectively $ 26,049 $ 18,026 Finished goods, net of allowance of $868 and $1,354, respectively 29,420 22,608 Work in progress 4,529 8,285 Raw materials, components and supplies 26,819 20,463 Total inventories, net $ 86,817 $ 69,382

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 2019
Property, Plant and Equipment [Abstract]
Summary of Property, Plant and Equipment	The following is a summary of property, plant and equipment at September 30, 2019 and December 31, 2018 (in thousands): Estimated Useful Lives in Years September 30, December 31, Land — $ 31,438 $ 32,945 Land improvements 8-15 7,128 8,316 Buildings and improvements 13-39 115,141 125,088 Rental machinery and equipment 7 896,483 887,064 Machinery and equipment - other 7 60,571 61,796 Furniture, fixtures and computers 5 20,091 24,745 Automobiles and other vehicles 5 29,243 29,696 Leasehold improvements 7-15, or lease term if shorter 14,740 15,392 Construction in progress - machinery and equipment and land improvements — 68,743 65,152 1,243,578 1,250,194 Less: Accumulated depreciation (877,126 ) (833,704 ) Total property, plant and equipment, net $ 366,452 $ 416,490
Summary of Depreciation and Amortization Expense	The following table presents the depreciation and amortization expense associated with each line item for the three and nine months ended September 30, 2019 and 2018 (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Services $ 18,224 $ 22,584 $ 60,636 $ 70,465 Products 376 1,051 1,235 3,319 General and administrative expenses 2,882 3,363 8,766 10,376 Total $ 21,482 $ 26,998 $ 70,637 $ 84,160

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Summary of Other Assets	Other assets at September 30, 2019 and December 31, 2018 consisted of the following (in thousands): September 30, December 31, 2019 2018 Cash surrender value of life insurance policies (1) $ 26,467 $ 23,784 Deposits 2,118 2,269 Other 2,428 2,566 Total other assets $ 31,013 $ 28,619 (1) See Note 10—Fair Value Measurements for additional information.

Accounts Payable and Accrued _2

Accounts Payable and Accrued Liabilities (Tables)	9 Months Ended
	Sep. 30, 2019
Payables and Accruals [Abstract]
Summary of Accounts Payable and Accrued Liabilities	Accounts payable and accrued liabilities at September 30, 2019 and December 31, 2018 consisted of the following (in thousands): September 30, December 31, 2019 2018 Accounts payable $ 17,445 $ 28,045 Accrued compensation 24,761 30,822 Accrued property and other taxes 20,082 16,301 Accrued severance and other charges 499 2,328 Income taxes 17,619 12,075 Affiliated (1) 679 3,915 Accrued purchase orders and other 35,370 30,495 Total accounts payable and accrued liabilities $ 116,455 $ 123,981 (1) Represents amounts owed to non-consolidated affiliates.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	A summary of financial assets and liabilities that are measured at fair value on a recurring basis, as of September 30, 2019 and December 31, 2018 , were as follows (in thousands): Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs (Level 1) (Level 2) (Level 3) Total September 30, 2019 Assets: Derivative financial instruments $ — $ 248 $ — $ 248 Investments: Cash surrender value of life insurance policies - deferred compensation plan — 26,467 — 26,467 Marketable securities - other 15 — — 15 Liabilities: Deferred compensation plan — 23,522 — 23,522 December 31, 2018 Assets: Investments: Cash surrender value of life insurance policies - deferred compensation plan $ — $ 23,784 $ — $ 23,784 Marketable securities - other 37 — — 37 Liabilities: Derivative financial instruments — 101 — 101 Deferred compensation plan — 23,663 — 23,663

Derivatives (Tables)

Derivatives (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Foreign Currency Derivative Contracts Outstanding	As of September 30, 2019 and December 31, 2018 , we had the following foreign currency derivative contracts outstanding in U.S. dollars (in thousands): September 30, 2019 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 1,362 1.3220 12/16/2019 Euro 7,457 1.1130 12/16/2019 Norwegian krone 10,254 8.9717 12/16/2019 Pound sterling 16,089 1.2377 12/16/2019 December 31, 2018 Derivative Contracts Notional Amount Contractual Exchange Rate Settlement Date Canadian dollar $ 2,248 1.3343 3/18/2019 Euro 6,967 1.1421 3/18/2019 Norwegian krone 7,713 8.5566 3/18/2019 Pound sterling 16,452 1.2655 3/18/2019
Impact of Derivative Contracts on Condensed Consolidated Balance Sheets	The following table summarizes the location and fair value amounts of all derivative contracts in the condensed consolidated balance sheets as of September 30, 2019 and December 31, 2018 (in thousands): Derivatives not Designated as Hedging Instruments Consolidated Balance Sheet Location September 30, 2019 December 31, 2018 Foreign currency contracts Accounts receivables, net $ 248 $ — Foreign currency contracts Accounts payable and accrued liabilities — (101 )
Impact of Derivative Contracts on Condensed Consolidated Statements of Operations	The following table summarizes the location and amounts of the realized and unrealized gains and losses on derivative contracts in the condensed consolidated statements of operations (in thousands): Three Months Ended Nine Months Ended September 30, September 30, Derivatives not Designated as Hedging Instruments Location of Gain (Loss) Recognized in Income on Derivative Contracts 2019 2018 2019 2018 Unrealized gain (loss) on foreign currency contracts Other income, net $ 553 $ (323 ) $ 349 $ 442 Realized gain on foreign currency contracts Other income, net 1,059 447 1,471 572 Total net gain on foreign currency contracts $ 1,612 $ 124 $ 1,820 $ 1,014
Schedule of Derivative Assets, Gross and Net Fair Values	The following table presents the gross and net fair values of our derivatives at September 30, 2019 and December 31, 2018 (in thousands): Derivative Asset Positions Derivative Liability Positions September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Gross position - asset / (liability) $ 248 $ 113 $ — $ (214 ) Netting adjustment — (113 ) — 113 Net position - asset / (liability) $ 248 $ — $ — $ (101 )
Schedule of Derivative Liabilities, Gross and Net Fair Values	The following table presents the gross and net fair values of our derivatives at September 30, 2019 and December 31, 2018 (in thousands): Derivative Asset Positions Derivative Liability Positions September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Gross position - asset / (liability) $ 248 $ 113 $ — $ (214 ) Netting adjustment — (113 ) — 113 Net position - asset / (liability) $ 248 $ — $ — $ (101 )

Loss Per Common Share (Tables)

Loss Per Common Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Loss Per Share, Basic and Diluted	The following table summarizes the basic and diluted loss per share calculations (in thousands, except per share amounts): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Numerator Net loss $ (23,789 ) $ (6,999 ) $ (67,236 ) $ (74,835 ) Denominator Basic and diluted weighted average common shares (1) 225,415 224,182 225,043 223,912 Loss per common share: Basic and diluted $ (0.11 ) $ (0.03 ) $ (0.30 ) $ (0.33 ) (1) Approximate number of unvested restricted stock units and stock to be issued pursuant to the ESPP that have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive when results from operations are at a net loss position. 587 1,075 722 779

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Reporting [Abstract]
Disaggregation of Revenue	The following tables presents our revenue disaggregated by geography, based on the location where our services were provided and products sold (in thousands): Three Months Ended September 30, 2019 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 34,903 $ 10,148 $ 20,044 $ 65,095 International 67,374 2,371 5,577 75,322 Total Revenue $ 102,277 $ 12,519 $ 25,621 $ 140,417 Three Months Ended September 30, 2018 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 36,817 $ 14,310 $ 19,096 $ 70,223 International 52,972 955 4,836 58,763 Total Revenue $ 89,789 $ 15,265 $ 23,932 $ 128,986 Nine Months Ended September 30, 2019 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 114,466 $ 45,163 $ 62,963 $ 222,592 International 192,505 8,347 17,035 217,887 Total Revenue $ 306,971 $ 53,510 $ 79,998 $ 440,479 Nine Months Ended September 30, 2018 Tubular Running Services Tubulars Cementing Equipment Consolidated United States $ 101,117 $ 46,857 $ 54,568 $ 202,542 International 159,064 3,134 11,900 174,098 Total Revenue $ 260,181 $ 49,991 $ 66,468 $ 376,640 Revenue by geographic area were as follows (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 United States $ 65,095 $ 70,223 $ 222,592 $ 202,542 Europe/Middle East/Africa 41,071 30,064 116,126 91,154 Latin America 19,181 11,984 56,520 32,441 Asia Pacific 9,727 8,934 27,753 26,200 Other countries 5,343 7,781 17,488 24,303 Total Revenue $ 140,417 $ 128,986 $ 440,479 $ 376,640
Reconciliation of Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization from Segments to Consolidated	The following table presents a reconciliation of Segment Adjusted EBITDA to net loss (in thousands): Three Months Ended Nine Months Ended September 30, September 30, 2019 2018 2019 2018 Segment Adjusted EBITDA: Tubular Running Services $ 23,884 $ 17,070 $ 67,019 $ 40,876 Tubulars 456 1,541 8,502 8,461 Cementing Equipment 3,031 1,972 9,854 7,074 Corporate (1) (11,350 ) (8,967 ) (42,533 ) (36,001 ) 16,021 11,616 42,842 20,410 Interest income, net 563 866 1,757 2,419 Depreciation and amortization (21,482 ) (26,998 ) (70,637 ) (84,160 ) Income tax (expense) benefit (7,297 ) 7,461 (20,370 ) 1,901 Gain (loss) on disposal of assets (603 ) 2,242 (984 ) 1,790 Foreign currency loss (3,872 ) (879 ) (4,050 ) (3,442 ) TRA related adjustments — (1,170 ) 220 (5,282 ) Charges and credits (2) (7,119 ) (137 ) (16,014 ) (8,471 ) Net loss $ (23,789 ) $ (6,999 ) $ (67,236 ) $ (74,835 ) (1) Includes certain expenses not attributable to a particular segment, such as costs related to support functions and corporate executives. (2) Comprised of Equity-based compensation expense (for the three months ended September 30, 2019 and 2018 : $2,647 and $3,008 , respectively, and for the nine months ended September 30, 2019 and 2018 : $8,238 and $8,176 , respectively), Mergers and acquisition expense (for the three months ended September 30, 2019 and 2018 : none and none , respectively, and for the nine months ended September 30, 2019 and 2018 : none and $58 , respectively), Severance and other (charges) credits, net (for the three months ended September 30, 2019 and 2018 : $(5,222) and $4,852 , respectively, and for the nine months ended September 30, 2019 and 2018 : $(6,492) and $2,483 , respectively), Unrealized and realized gains (for the three months ended September 30, 2019 and 2018 : $1,382 and $360 , respectively, and for the nine months ended September 30, 2019 and 2018 : $2,073 and $1,521 , respectively) and Investigation-related matters (for the three months ended September 30, 2019 and 2018 : $632 and $2,341 , respectively, and for the nine months ended September 30, 2019 and 2018 : $3,357 and $4,241 , respectively).
Schedule of Financial Information, by Reportable Segments	The following tables set forth certain financial information with respect to our reportable segments (in thousands): Tubular Running Services Tubulars Cementing Equipment Corporate Total Three Months Ended September 30, 2019 Revenue from external customers $ 102,277 $ 12,519 $ 25,621 $ — $ 140,417 Operating income (loss) 8,253 (377 ) (1,610 ) (21,069 ) (14,803 ) Adjusted EBITDA 23,884 456 3,031 (11,350 ) * Three Months Ended September 30, 2018 Revenue from external customers $ 89,789 $ 15,265 $ 23,932 $ — $ 128,986 Operating income (loss) 4,099 46 (2,226 ) (15,510 ) (13,591 ) Adjusted EBITDA 17,070 1,541 1,972 (8,967 ) * Nine Months Ended September 30, 2019 Revenue from external customers $ 306,971 $ 53,510 $ 79,998 $ — $ 440,479 Operating income (loss) 17,094 5,906 (4,744 ) (65,867 ) (47,611 ) Adjusted EBITDA 67,019 8,502 9,854 (42,533 ) * Nine Months Ended September 30, 2018 Revenue from external customers $ 260,181 $ 49,991 $ 66,468 $ — $ 376,640 Operating income (loss) (16,409 ) 5,702 (5,981 ) (55,592 ) (72,280 ) Adjusted EBITDA 40,876 8,461 7,074 (36,001 ) * * Non-GAAP financial measure not disclosed.

Basis of Presentation - Reclass

Basis of Presentation - Reclassifications to Previously Reported Amounts (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Error Corrections and Prior Period Adjustments Restatement [Line Items]
General and administrative expenses	$ 26,921	$ 29,916	$ 96,358	$ 94,799
As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
General and administrative expenses		37,526		116,608
Reclassifications
Error Corrections and Prior Period Adjustments Restatement [Line Items]
General and administrative expenses		(7,610)		(21,809)
Services
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue, exclusive of depreciation and amortization	86,745	74,769	255,769	219,819
Services | As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue, exclusive of depreciation and amortization		65,726		193,951
Services | Reclassifications
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue, exclusive of depreciation and amortization		9,043		25,868
Products
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue, exclusive of depreciation and amortization	$ 14,247	17,988	$ 57,850	54,415
Products | As previously reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue, exclusive of depreciation and amortization		19,421		58,474
Products | Reclassifications
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Cost of revenue, exclusive of depreciation and amortization		$ (1,433)		$ (4,059)

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Jan. 01, 2019	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets	$ 32,423
Operating lease liabilities	$ 32,424
Cumulative effect of accounting change		$ (700)	$ 670
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease right-of-use assets		34,900
Operating lease liabilities		34,400
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting change		(700)	$ 670
Retained Earnings | Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of accounting change		$ (700)

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Lessee, Lease, Description [Line Items]
Option term to extend lease (up to)	10 years	10 years
Option term to terminate lease (within)		1 year
Short-term lease expense	$ 1	$ 2.7
Minimum
Lessee, Lease, Description [Line Items]
Remaining lease term		1 year
Maximum
Lessee, Lease, Description [Line Items]
Remaining lease term		14 years

Leases - Lease Cost (Details)

Leases - Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost	$ 2,824	$ 8,803
Sublease income	$ (136)	$ (400)

Leases - Other Information (Det

Leases - Other Information (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating cash flows from operating leases	$ 2,202	$ 7,770
Right-of-use assets obtained in an exchange for operating lease obligations	$ 738	$ 4,239

Leases - Lease Term and Discoun

Leases - Lease Term and Discount Rate (Details)	Sep. 30, 2019
Leases [Abstract]
Operating leases, weighted average remaining lease term	6 years 3 months 3 days
Operating leases, weighted average discount rate	10.45%

Leases - Maturity of Lease Liab

Leases - Maturity of Lease Liabilities (Details) $ in Thousands	Sep. 30, 2019USD ($)
Leases [Abstract]
2019	$ 3,103
2020	9,857
2021	8,172
2022	6,244
2023	4,406
Thereafter	13,289
Total undiscounted lease payments	45,071
Less: interest	12,647
Present value of lease liabilities	$ 32,424

Leases - Future Minimum Rental

Leases - Future Minimum Rental Payments for Operating Leases (Details) $ in Thousands	Dec. 31, 2018USD ($)
Leases [Abstract]
2019	$ 10,544
2020	9,120
2021	7,370
2022	6,006
2023	4,251
Thereafter	13,103
Total future lease commitments	$ 50,394

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 190,522	$ 186,212
Restricted cash	1,252	0
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$ 191,774	$ 186,212	$ 166,127	$ 213,015

Accounts Receivable, net (Detai

Accounts Receivable, net (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Receivables [Abstract]
Trade accounts receivable, net of allowance of $3,816 and $3,925, respectively	$ 122,684	$ 114,630
Allowance for trade accounts receivable	3,816	3,925
Unbilled receivables	34,066	54,591
Taxes receivable	18,649	15,762
Affiliated	549	549
Other receivables	3,221	3,882
Total accounts receivable, net	$ 179,169	$ 189,414

Inventories, net (Details)

Inventories, net (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Inventory Disclosure [Abstract]
Pipe and connectors, net of allowance of $18,758 and $21,270, respectively	$ 26,049	$ 18,026
Finished goods, net of allowance of $868 and $1,354, respectively	29,420	22,608
Work in progress	4,529	8,285
Raw materials, components and supplies	26,819	20,463
Total inventories, net	86,817	69,382
Pipe and Connectors
Inventory [Line Items]
Allowance	18,758	21,270
Finished Goods
Inventory [Line Items]
Allowance	$ 868	$ 1,354

Property, Plant and Equipment -

Property, Plant and Equipment - Summary of Property, Plant and Equipment (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 1,243,578	$ 1,250,194
Less: Accumulated depreciation	(877,126)	(833,704)
Total property, plant and equipment, net	366,452	416,490
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	31,438	32,945
Land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 7,128	8,316
Land improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	8 years
Land improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 115,141	125,088
Buildings and improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	13 years
Buildings and improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	39 years
Rental machinery and equipment
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Property, plant and equipment, gross	$ 896,483	887,064
Machinery and equipment - other
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Property, plant and equipment, gross	$ 60,571	61,796
Furniture, fixtures and computers
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Property, plant and equipment, gross	$ 20,091	24,745
Automobiles and other vehicles
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Property, plant and equipment, gross	$ 29,243	29,696
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 14,740	15,392
Leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Construction in progress - machinery and equipment and land improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 68,743	$ 65,152

Property, Plant and Equipment_2

Property, Plant and Equipment - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended				9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Mar. 31, 2019	Jun. 30, 2018
Property, Plant and Equipment [Line Items]
Proceeds from sale of assets					$ 353	$ 4,419
Assets held-for-sale, loss recorded					4,268	0
Buildings and improvements
Property, Plant and Equipment [Line Items]
Proceeds from sale of assets		$ 200	$ 2,600	$ 800
Assets held-for-sale, loss recorded	$ 4,000
Assets held-for-sale, net book value	$ 5,300		300		$ 5,300	300	$ 1,100	$ 4,500
Assets held-for-sale, net book value			$ 5,000			$ 5,000

Property, Plant and Equipment_3

Property, Plant and Equipment - Depreciation and Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 21,482	$ 26,998	$ 70,637	$ 84,160
Services
Property, Plant and Equipment [Line Items]
Depreciation and amortization	18,224	22,584	60,636	70,465
Products
Property, Plant and Equipment [Line Items]
Depreciation and amortization	376	1,051	1,235	3,319
General and administrative expenses
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 2,882	$ 3,363	$ 8,766	$ 10,376

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Cash surrender value of life insurance policies	$ 26,467	$ 23,784
Deposits	2,118	2,269
Other	2,428	2,566
Total other assets	$ 31,013	$ 28,619

Accounts Payable and Accrued _3

Accounts Payable and Accrued Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Payables and Accruals [Abstract]
Accounts payable	$ 17,445	$ 28,045
Accrued compensation	24,761	30,822
Accrued property and other taxes	20,082	16,301
Accrued severance and other charges	499	2,328
Income taxes	17,619	12,075
Affiliated	679	3,915
Accrued purchase orders and other	35,370	30,495
Total accounts payable and accrued liabilities	$ 116,455	$ 123,981

Debt - Credit Facility (Details

Debt - Credit Facility (Details) - ABL Credit Facility	Nov. 05, 2018USD ($)	Sep. 30, 2019USD ($)
Revolving Credit Facility
Line of Credit Facility [Line Items]
Covenant, consolidated EBITDA, minimum	1
Covenant, minimum fixed charges amount	$ 12,500,000
Covenant, minimum fixed charges percentage	15.00%
Revolving Credit Facility | Secured Debt
Line of Credit Facility [Line Items]
Expiration period	5 years
Maximum borrowing capacity	$ 100,000,000
Maximum additional borrowing capacity	$ 200,000,000
Federal funds effective rate	0.00%
Basis spread on variable rate	0.50%
Outstanding indebtedness		$ 0
Available borrowing capacity		55,000,000
Revolving Credit Facility | Secured Debt | Minimum
Line of Credit Facility [Line Items]
Unused capacity, commitment fee	0.25%
Revolving Credit Facility | Secured Debt | Maximum
Line of Credit Facility [Line Items]
Unused capacity, commitment fee	0.375%
Revolving Credit Facility | Secured Debt | London Interbank Offered Rate (LIBOR)
Line of Credit Facility [Line Items]
Basis spread on variable rate	1.00%
Revolving Credit Facility | Secured Debt | Alternate Base Rate | Minimum
Line of Credit Facility [Line Items]
Additional basis spread on variable rate	1.00%
Revolving Credit Facility | Secured Debt | Alternate Base Rate | Maximum
Line of Credit Facility [Line Items]
Additional basis spread on variable rate	1.50%
Revolving Credit Facility | Secured Debt | Eurodollar | Minimum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.00%
Revolving Credit Facility | Secured Debt | Eurodollar | Maximum
Line of Credit Facility [Line Items]
Basis spread on variable rate	2.50%
Revolving Credit Facility | Lines of credit
Line of Credit Facility [Line Items]
Letters of credit, amount outstanding		$ 6,500,000
Letter of Credit | Secured Debt
Line of Credit Facility [Line Items]
Maximum borrowing capacity	$ 15,000,000

Debt - Insurance Notes Payable

Debt - Insurance Notes Payable (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Short-term Debt [Line Items]
Short-term debt	$ 517,000	$ 5,627,000
Insurance Notes Payable | Insurance Notes Payable Due October 2019
Short-term Debt [Line Items]
Debt instrument, face amount		$ 6,800,000
Debt instrument, interest rate		3.90%
Short-term debt	$ 500,000	$ 5,600,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Assets:
Derivative financial instruments	$ 248	$ 0
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	26,467	23,784
Marketable securities - other	15	37
Liabilities:
Derivative financial instruments	0	101
Deferred compensation plan
Liabilities:
Deferred compensation plan	23,522	23,663
Quoted Prices in Active Markets (Level 1)
Assets:
Derivative financial instruments	0
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	0	0
Marketable securities - other	15	37
Liabilities:
Derivative financial instruments		0
Quoted Prices in Active Markets (Level 1) | Deferred compensation plan
Liabilities:
Deferred compensation plan	0	0
Significant Other Observable Inputs (Level 2)
Assets:
Derivative financial instruments	248
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	26,467	23,784
Marketable securities - other	0	0
Liabilities:
Derivative financial instruments		101
Significant Other Observable Inputs (Level 2) | Deferred compensation plan
Liabilities:
Deferred compensation plan	23,522	23,663
Significant Unobservable Inputs (Level 3)
Assets:
Derivative financial instruments	0
Investments:
Cash surrender value of life insurance policies - deferred compensation plan	0	0
Marketable securities - other	0	0
Liabilities:
Derivative financial instruments		0
Significant Unobservable Inputs (Level 3) | Deferred compensation plan
Liabilities:
Deferred compensation plan	$ 0	$ 0

Derivatives - Foreign Currency

Derivatives - Foreign Currency Derivative Contracts Outstanding (Details) - Not Designated as Hedging Instrument - Foreign currency contracts $ in Thousands	Sep. 30, 2019USD ($)$ / £$ / €$ / kr$ / $	Dec. 31, 2018USD ($)$ / £$ / €$ / kr$ / $
Canadian dollar
Derivative [Line Items]
Notional Amount	$ 1,362	$ 2,248
Contractual Exchange Rate | $ / $	1.3220	1.3343
Euro
Derivative [Line Items]
Notional Amount	$ 7,457	$ 6,967
Contractual Exchange Rate | $ / €	1.1130	1.1421
Norwegian krone
Derivative [Line Items]
Notional Amount	$ 10,254	$ 7,713
Contractual Exchange Rate | $ / kr	8.9717	8.5566
Pound sterling
Derivative [Line Items]
Notional Amount	$ 16,089	$ 16,452
Contractual Exchange Rate | $ / £	1.2377	1.2655

Derivatives - Impact of Derivat

Derivatives - Impact of Derivative Contracts on Condensed Consolidated Balance Sheets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivative [Line Items]
Derivative assets	$ 248	$ 0
Derivative liabilities	0	(101)
Not Designated as Hedging Instrument | Foreign currency contracts | Accounts receivables, net
Derivative [Line Items]
Derivative assets	248	0
Not Designated as Hedging Instrument | Foreign currency contracts | Accounts payable and accrued liabilities
Derivative [Line Items]
Derivative liabilities	$ 0	$ (101)

Derivatives - Impact of Deriv_2

Derivatives - Impact of Derivatives Contracts on Condensed Consolidated Statements of Operations (Details) - Other income, net - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Unrealized gain (loss) on foreign currency contracts
Derivative [Line Items]
Gain (loss) on foreign currency contracts	$ 553	$ (323)	$ 349	$ 442
Realized gain on foreign currency contracts
Derivative [Line Items]
Gain (loss) on foreign currency contracts	1,059	447	1,471	572
Foreign currency contracts
Derivative [Line Items]
Gain (loss) on foreign currency contracts	$ 1,612	$ 124	$ 1,820	$ 1,014

Derivatives - Gross and Net Fai

Derivatives - Gross and Net Fair Value of Derivatives (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivative Asset Positions
Gross position - asset / (liability)	$ 248	$ 113
Netting adjustment	0	(113)
Net position - asset / (liability)	248	0
Derivative Liability Positions
Gross position - asset / (liability)	0	(214)
Netting adjustment	0	113
Net position - asset / (liability)	$ 0	$ (101)

Related Party Transactions (Det

Related Party Transactions (Details) $ in Thousands	Dec. 18, 2018USD ($)	Aug. 26, 2016	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Related Party Transaction [Line Items]
Operating lease right-of-use assets			$ 32,423		$ 32,423
Operating lease liabilities			32,424		32,424
Conversion ratio, preferred stock to common stock		1
Percentage retained under tax receivable agreement		15.00%
Estimated termination payment			$ 51,300		$ 51,300
Discount rate, tax receivable agreement liability			4.94%		4.94%
Affiliated Entity
Related Party Transaction [Line Items]
Rent expense			$ 600		$ 2,000
Rent expense				$ 1,100		$ 5,000
Operating lease right-of-use assets			6,800		6,800
Operating lease liabilities			7,500		$ 7,500
Affiliated Entity | Mosing Holdings
Related Party Transaction [Line Items]
Percentage of tax benefits realized payable		85.00%
Cumulative deficit, period					36 months
Tax receivable agreement, estimated liability			$ 200		$ 200
Real Property Acquisition From Mosing Companies | Affiliated Entity
Related Party Transaction [Line Items]
Purchase from related party	$ 37,000
Term for certain rights and obligations within agreement with related party	10 years

Loss Per Common Share (Details)

Loss Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator
Net loss	$ (23,789)	$ (15,160)	$ (28,287)	$ (6,999)	$ (25,763)	$ (42,073)	$ (67,236)	$ (74,835)
Denominator
Basic and diluted weighted average common shares (in shares)	225,415			224,182			225,043	223,912
Loss per common share:
Basic and diluted (in dollars per share)	$ (0.11)			$ (0.03)			$ (0.30)	$ (0.33)
Approximate number of unvested restricted stock units and stock to be issued pursuant to the ESPP that have been excluded from the computation of diluted loss per share as the effect would be anti-dilutive when results from operations are at a net loss position.	587			1,075			722	779

Income Taxes (Details)

Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Effective income tax rate	(44.20%)	51.60%	(43.50%)	2.50%

Segment Information - Additiona

Segment Information - Additional Information (Details)	9 Months Ended
	Sep. 30, 2019segmentcountrycontinentft
Segment Reporting Information [Line Items]
Number of reportable segments | segment	3
Maximum
Segment Reporting Information [Line Items]
Length of tubular assemblies (in feet) | ft	400
Tubular Running Services
Segment Reporting Information [Line Items]
Number of countries in which entity operates | country	50
Number of continents in which entity operates | continent	6

Segment Information - Disaggreg

Segment Information - Disaggregation of Revenue by Revenue Source and Geography (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation of Revenue [Line Items]
Total Revenue	$ 140,417	$ 128,986	$ 440,479	$ 376,640
United States
Disaggregation of Revenue [Line Items]
Total Revenue	65,095	70,223	222,592	202,542
International
Disaggregation of Revenue [Line Items]
Total Revenue	75,322	58,763	217,887	174,098
Europe/Middle East/Africa
Disaggregation of Revenue [Line Items]
Total Revenue	41,071	30,064	116,126	91,154
Latin America
Disaggregation of Revenue [Line Items]
Total Revenue	19,181	11,984	56,520	32,441
Asia Pacific
Disaggregation of Revenue [Line Items]
Total Revenue	9,727	8,934	27,753	26,200
Other countries
Disaggregation of Revenue [Line Items]
Total Revenue	5,343	7,781	17,488	24,303
Tubular Running Services
Disaggregation of Revenue [Line Items]
Total Revenue	102,277	89,789	306,971	260,181
Tubular Running Services | United States
Disaggregation of Revenue [Line Items]
Total Revenue	34,903	36,817	114,466	101,117
Tubular Running Services | International
Disaggregation of Revenue [Line Items]
Total Revenue	67,374	52,972	192,505	159,064
Tubulars
Disaggregation of Revenue [Line Items]
Total Revenue	12,519	15,265	53,510	49,991
Tubulars | United States
Disaggregation of Revenue [Line Items]
Total Revenue	10,148	14,310	45,163	46,857
Tubulars | International
Disaggregation of Revenue [Line Items]
Total Revenue	2,371	955	8,347	3,134
Cementing Equipment
Disaggregation of Revenue [Line Items]
Total Revenue	25,621	23,932	79,998	66,468
Cementing Equipment | United States
Disaggregation of Revenue [Line Items]
Total Revenue	20,044	19,096	62,963	54,568
Cementing Equipment | International
Disaggregation of Revenue [Line Items]
Total Revenue	$ 5,577	$ 4,836	$ 17,035	$ 11,900

Segment Information - Reconcili

Segment Information - Reconciliation of Adjusted Earnings before Interest, Taxes, Depreciation, and Amortization from Segments to Consolidated (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	$ 16,021,000			$ 11,616,000			$ 42,842,000	$ 20,410,000
Interest income, net	563,000			866,000			1,757,000	2,419,000
Depreciation and amortization	(21,482,000)			(26,998,000)			(70,637,000)	(84,160,000)
Income tax (expense) benefit	(7,297,000)			7,461,000			(20,370,000)	1,901,000
Gain (loss) on disposal of assets	(603,000)			2,242,000			(984,000)	1,790,000
Foreign currency loss	(3,872,000)			(879,000)			(4,050,000)	(3,442,000)
Tax receivable agreement (“TRA”) related adjustments	0			(1,170,000)			220,000	(5,282,000)
Charges and credits	(7,119,000)			(137,000)			(16,014,000)	(8,471,000)
Net loss	(23,789,000)	$ (15,160,000)	$ (28,287,000)	(6,999,000)	$ (25,763,000)	$ (42,073,000)	(67,236,000)	(74,835,000)
Equity-based compensation expense	2,647,000			3,008,000			8,238,000	8,176,000
Mergers and acquisition expense	0			0			0	58,000
Severance and other (charges) credits, net	(5,222,000)			4,852,000			(6,492,000)	2,483,000
Unrealized and realized gains	1,382,000			360,000			2,073,000	1,521,000
Investigation-related matters	632,000			2,341,000			3,357,000	4,241,000
Operating Segments | Tubular Running Services
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	23,884,000			17,070,000			67,019,000	40,876,000
Operating Segments | Tubulars
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	456,000			1,541,000			8,502,000	8,461,000
Operating Segments | Cementing Equipment
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	3,031,000			1,972,000			9,854,000	7,074,000
Corporate
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Adjusted EBITDA	$ (11,350,000)			$ (8,967,000)			$ (42,533,000)	$ (36,001,000)

Segment Information - Financial

Segment Information - Financial Information with Respect to Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue from External Customer [Line Items]
Revenue from external customers	$ 140,417	$ 128,986	$ 440,479	$ 376,640
Operating income (loss)	(14,803)	(13,591)	(47,611)	(72,280)
Adjusted EBITDA	16,021	11,616	42,842	20,410
Operating Segments | Tubular Running Services
Revenue from External Customer [Line Items]
Revenue from external customers	102,277	89,789	306,971	260,181
Operating income (loss)	8,253	4,099	17,094	(16,409)
Adjusted EBITDA	23,884	17,070	67,019	40,876
Operating Segments | Tubulars
Revenue from External Customer [Line Items]
Revenue from external customers	12,519	15,265	53,510	49,991
Operating income (loss)	(377)	46	5,906	5,702
Adjusted EBITDA	456	1,541	8,502	8,461
Operating Segments | Cementing Equipment
Revenue from External Customer [Line Items]
Revenue from external customers	25,621	23,932	79,998	66,468
Operating income (loss)	(1,610)	(2,226)	(4,744)	(5,981)
Adjusted EBITDA	3,031	1,972	9,854	7,074
Corporate
Revenue from External Customer [Line Items]
Revenue from external customers	0	0	0	0
Operating income (loss)	(21,069)	(15,510)	(65,867)	(55,592)
Adjusted EBITDA	$ (11,350)	$ (8,967)	$ (42,533)	$ (36,001)