Revenue, Net Income and Adjusted EBITDA^A of $205.5 million, $9.0 million and $30.6 million, respectively for the second quarter of 2018

Second quarter 2018 Revenue and Adjusted EBITDA increased approximately 18% and 27%, respectively over the first quarter 2018

Second quarter 2018 ROIC^B of 8%

See end of press release for definitions

The foregoing contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are those that do not state historical facts and are, therefore, inherently subject to risks and uncertainties. Forward-looking statements also include statements that refer to or are based on projections, uncertain events or assumptions. The forward-looking statements included herein are based on current expectations and entail various risks and uncertainties that could cause actual results to differ materially from those forward-looking statements. Such risks and uncertainties include, among other things, the general nature of the energy service industry risks related to economic conditions; volatility of crude oil and natural gas commodity prices; a decline in demand for our services, including due to declining commodity prices; our ability to implement price increases or maintain pricing of our core services; the loss of, or interruption or delay in operations by, one or more significant customers; the loss of or interruption in operations of one or more key suppliers; the adequacy of our capital

resources and liquidity; our ability to implement new technologies and services; the incurrence of significant costs and liabilities resulting from litigation; the loss of, or inability to attract, key personnel; and other factors to be discussed in the “Business” and “Risk Factors” sections of the Company’s Annual Report on Form 10-K for the year ended December 31, 2017 and the subsequently filed Quarterly Reports on Form 10-Q and Periodic Reports on Form 8-K. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date hereof, and, except as required by law, the Company undertakes no obligation to update those statements or to publicly announce the results of any revisions to any of those statements to reflect future events or developments.

Revenues

Cost and expenses

Cost of revenues (exclusive of depreciation and amortization shown separately below)

General and administrative expenses

Depreciation

Amortization of intangibles

Loss on equity method investment

Loss (gain) on sale of property and equipment

Income from operations

Other expense

Interest expense

Total other expense

Income before income taxes

Provision for income taxes

Net income

Net income per share

Basic

Diluted

Weighted average shares outstanding

Basic

Diluted

Other comprehensive income, net of tax

Foreign currency translation adjustments, net of tax of $0 and $0

Total other comprehensive loss, net of tax

Total comprehensive income

Assets

Current assets

Cash and cash equivalents

Accounts receivable, net

Income taxes receivable

Inventories

Prepaid expenses and other

Notes receivable from shareholders

Total current assets

Property and equipment, net

Goodwill

Intangible assets, net

Other long-term assets

Notes receivable from shareholders

Total assets

Liabilities and Stockholders’ Equity

Current liabilities

Long-term debt, current portion

Accounts payable

Accrued expenses

Income taxes payable

Total current liabilities

Long-term liabilities

Long-term debt

Deferred taxes

Other long term liabilities

Total liabilities

Stockholders’ equity

Common stock (120,000,000 shares authorized at $.01 par value; 25,030,863
and 24,278,857 shares issued and outstanding at June 30, 2018
and March 31, 2018, respectively)

Additional paid-in capital

Accumulated other comprehensive income (loss)

Retained earnings (accumulated deficit)

Total stockholders’ equity

Total liabilities and stockholders’ equity

Cash flows from operating activities

Net Income

Adjustments to reconcile net income to net cash (used in) provided by
operating activities

Depreciation

Amortization of intangibles

Amortization of deferred financing costs

Recovery of doubtful accounts

Deferred tax expense (benefit)

Impairment of goodwill

Impairment of intangibles

Provision for inventory obsolescence

Stock-based and deferred compensation expense

Loss (gain) on sales of assets

Loss (gain) on revaluation of contingent consideration

Loss on equity method investment

Changes in operating assets and liabilities, net of effects from acquisitions

Accounts receivable

Inventories

Prepaid expenses and other current assets

Accounts payable and accrued expenses

Income taxes receivable/payable

Other assets and liabilities

Net cash provided by operating activities

Cash flows from investing activities

Proceeds from sales of assets

Proceeds from property and equipment casualty losses

Purchases of property and equipment

Net cash used in investing activities

Cash flows from financing activities

Borrowings on revolving credit facilities

Payments on revolving credit facilities

Payments on term loans

Proceeds from term loan

Payment of contingent liability on Scorpion purchase

Proceeds from issuance of common stock in IPO, net offering costs

Proceeds from other issuances of common stock

Deferred financing costs

Net cash provided by (used in) financing activities

Net increase (decrease) in cash and cash equivalents

Impact of foreign currency exchange on cash

Cash and cash equivalents

Beginning of period

End of period

Revenues

Completion Solutions

Production Solutions

Gross profit(1)

Completion Solutions

Production Solutions

General and administrative expenses

Depreciation

Amortization of intangibles

Loss on equity method investment

Loss (gain) on sale of assets

Income from operations

Capital expenditures

Completion Solutions

Production Solutions

Corporate

Assets

Completion Solutions

Production Solutions

Corporate

Excludes depreciation and amortization, shown below.

Revenues

United States

Canada

Long-lived assets:

United States

Canada

Calculation of gross profit

Revenues

Cost of revenues (exclusive of depreciation and amortization shown separately below)

Depreciation (related to cost of revenues)

Amortization

Gross profit

Adjusted gross profit (excluding depreciation and amortization) reconciliation

Gross profit

Depreciation (related to cost of revenues)

Amortization

Adjusted gross profit

EBITDA reconciliation:

Net income

Interest expense

Depreciation

Amortization

Provision from income taxes

EBITDA

Adjusted EBITDA reconciliation:

EBITDA

Transaction expenses

Loss or gains from the revaluation of contingent liabilities (1)

Loss on equity investment

Non-cash stock-based compensation expense

Loss (gain) on sale of property and equipment

Legal fees and settlements (2)

Adjusted EBITDA

Loss or gain related to the revaluation of liability for contingent consideration relating to our acquisition of Scorpion to be paid in shares of Company common stock and in cash, contingent upon quantities of Scorpion Composite Plugs sold during 2016 and gross margin related to the product sales for three years following the acquisition.

Amount represents fees and legal settlements associated with legal proceedings brought pursuant to the Fair Labor Standards Act and/or similar state laws.

Income from continuing operations, net of tax

Add back:

Interest Expense

Taxes on interest

After-tax net operating profit

Total capital as of prior period end:

Total stockholders’ equity

Total debt

Less cash and cash equivalents

Total capital

Total capital as of period end:

Total stockholders’ equity

Total debt

Less cash and cash equivalents

Total capital

Average total capital

ROIC

Adjusted EBITDA is defined as EBITDA further adjusted for (i) impairment of goodwill and other intangible assets, (ii) transaction expenses related to acquisitions or the Combination, (iii) loss from discontinued operations, (iv) loss or gains from the revaluation of contingent liabilities, (v) non-cash stock-based compensation expense, (vi) loss or gains on sale of assets, (vii) inventory write-down and (viii) adjustment for other expenses or charges, to exclude certain items which we believe are not reflective of ongoing performance of our business, such as transaction expenses associated with our IPO, legal expenses and settlement costs related to litigation outside the ordinary course of business, and restructuring costs. Management believes Adjusted EBITDA is useful because it allows us to more effectively evaluate our operating performance and compare the results of our operations from period to period without regard to our financing methods or capital structure.

ROIC is defined as after-tax net operating profit, divided by average total capital. We define after-tax net operating profit as income (loss) from continuing operations (net of tax) plus interest expense, less taxes on interest. We define total capital as book value of equity plus the book value of debt less balance sheet cash and cash equivalents. We then take the average of the current and prior period-end total capital for use in this analysis. Management believes ROIC is a meaningful measure because it quantifies how well we generate operating income relative to the capital we have invested in our business and illustrates the profitability of a business or project taking into account the capital invested. Management uses ROIC to assist them in capital resource allocation decisions and in evaluating business performance.

Adjusted gross profit is defined as revenues less cost of revenues excluding depreciation and amortization. This measure differs from the GAAP definition of gross profit because we do not include the impact of depreciation and amortization, which represent non-cash expenses. Our management uses adjusted gross profit to evaluate operating performance and to determine resource allocation between segments. We prepare adjusted gross profit (excluding depreciation and amortization) to eliminate the impact of depreciation and amortization because we do not consider depreciation and amortization indicative of our core operating performance.