Quarterly report pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.21.1
Discontinued Operations (Tables)
3 Months Ended
Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Operating Results of Discontinued Operations The operating results of the pressure pumping operations and contract drilling operations, which were historically included in the Completions & Remedial Services and Other Services segments, have been reclassified
as discontinued operations in the Condensed Consolidated Statement of Operations for the three month periods ended March 31, 2021 and 2020, and are detailed in the table below:
Three Months Ended March 31,
(in thousands) 2021 2020
Revenues $ —  $ 95 
Costs of services 1,393  1,520 
Selling, general and administrative 113  1,938 
Asset impairment 2,842  2,333 
Loss (gain) on disposal of assets (551) 2,656 
Total operating expenses 3,797  8,447 
Operating loss (3,797) (8,352)
Interest expense —  (100)
Loss from discontinued operations $ (3,797) $ (8,452)
During 2020 and 2021, a substantial majority of the assets related to these discontinued operations, were disposed. The remaining assets and liabilities related to the divested operations are included in the consolidated balance sheets as follows:
(in thousands) March 31, 2021 December 31, 2020
Assets held for sale
Property and equipment, net $ 3,194  $ 1,523 
Total assets held for sale $ 3,194  $ 1,523 
Other long term assets
Real estate held for sale $ —  $ 4,802 
Liabilities related to assets held for sale
Operating lease liabilities $ 422  $ 508 
  Total liabilities related to assets held for sale $ 422  $ 508 
Consolidated statements of cash flow information related to these discontinued operations are detailed in the table below:
Three Months Ended March 31,
(in thousands) 2021 2020
Cash Flows from Discontinued Operations
Net cash provided (used) by operating activities $ (1,506) $ (3,467)
Net cash provided by investing activities $ —  $ 39,021