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We currently intend to reinvest any retained earnings, if any, for the future operation and growth of our business, to repay maturing debt that is not refinanced, or to use for potential acquisition opportunities or share repurchases.
−Removed: Our Board will review this matter on a regular basis in light of our earnings, financial position and market opportunities.
+Added: Our Board will review this matter on a regular basis in light of our earnings and financial forecasts, financial position and market opportunities.
Management’s Discussion and Analysis of Financial Condition and Results of Operations “— Liquidity and Capital Resources” of this Annual Report.
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and (iii) a peer group selected by us as of January 2025 (the “2025 Performance Peer Group”) including the following companies:
−Removed: Archrock, Inc., ChampionX Corporation, Core Laboratories N.V., DMC Global Inc., DNOW Inc., Expro Group Holdings N.V., Forum Energy Technologies, Inc., Helmerich & Payne, Inc., Innovex International, Inc.
−Removed: (formerly Dril-Quip, Inc.), Nine Energy Service, Inc., NPK International Inc.
−Removed: (formerly Newpark Resources, Inc.), Oceaneering International, Inc., Oil States International, Inc., Precision Drilling Corporation, ProPetro Holding Corp., RPC, Inc., Select Water Solutions, Inc., TETRA Technologies, Inc.
−Removed: and Tidewater Inc.
+Added: Archrock, Inc., Core Laboratories N.V., Expro Group Holdings N.V., Forum Energy Technologies, Inc., Helmerich & Payne, Inc., Nabors Industries Ltd., NPK International Inc.
+Added: (formerly Newpark Resources, Inc.), Noble Corporation plc, NOV Inc., Oceaneering International, Inc., Oil States International, Inc., Patterson-UTI Energy, Inc., Precision Drilling Corporation, ProPetro Holding Corp., RPC, Inc., Select Water Solutions, Inc., TETRA Technologies, Inc., Tidewater Inc., Tranocean Ltd.
+Added: and Weatherford International plc.
The returns of each member of the 2025 Performance Peer Group have been weighted according to each individual company’s equity market capitalization as of December 31, 2025 and have been adjusted for the reinvestment of any dividends.
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2025 Performance Peer Group Index
−Removed: Oil Service Index
Issuer Purchases of Equity Securities
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December 1 to December 31, 2025
−Removed: (1) On February 20, 2023, we announced that our Board authorized a new share repurchase program (the “2023 Repurchase Program”) under which we are authorized to repurchase up to $200 million issued and outstanding shares of our common stock (Note 10).
+Added: (1) Includes shares forfeited in satisfaction of tax obligations upon vesting of share-based awards under our existing long-term incentive plans.
+Added: (2) On February 20, 2023, we announced that our Board authorized a share repurchase program (the “2023 Repurchase Program”) under which we are authorized to repurchase up to $200 million issued and outstanding shares of our common stock (Note 10).
The 2023 Repurchase Program has no set expiration date.
Concurrent with the authorization of the 2023 Repurchase Program, our Board revoked the prior authorization to repurchase shares of our common stock in an amount equal to any equity granted to our employees, officers and directors under our share-based compensation plans.
−Removed: (2) Includes shares repurchased in open-market transactions pursuant to the 2023 Repurchase Program and shares forfeited in satisfaction of tax obligations upon vesting of share-based awards under our existing long-term incentive plans.
Not applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.