35 market conditions the level of demand for our products is directly related to activity levels and the capital and operating budgets of our customers , which in turn are heavily influenced by energy prices and expectations as to future price trends . in addition , the availability of existing capital equipment adequate to serve exploration and production requirements , or lack thereof , drives demand for our capital equipment products . the probability of any cyclical change in energy prices and the extent and duration of such a change are difficult to predict . oil prices strengthened in 2017 and through much of 2018 , giving rise to higher drilling and completions activity and spending by our customers , primarily in north america . the volume of rigs drilling for oil and natural gas in north america and the level of hydraulic fracturing and other well completion activities are drivers for our revenue from this region . the heightened level of activity led to increased revenues and orders in 2017 and 2018 , principally from the sale of consumable products . more recently , these favorable results have been tempered due to the decline in oil prices resulting from slowing growth in global oil demand and a surge in u.s. oil production . in addition , pipeline capacity constraints in the permian basin have limited the ability of operators to transport additional production from this basin , causing a reduction in completion activity in the fourth quarter of 2018. additional pipeline capacity is projected to come online sometime in 2019. drilling and completions activity for the u.s. onshore market was strong through much of 2018 , before falling off late in the year . activity in regions with higher costs for the production of energy , especially offshore and in some international regions , has lagged the u.s. onshore activity recovery . early signs of an increase in activity in these areas began to emerge in 2018 , but the timing and pace of any such recovery has been thrown into doubt by the recent decrease in oil prices . higher onshore activity levels drive increased demand for our drilling and completion consumable products , and our engineered process systems and production equipment . demand for the construction of new capital equipment by our customers remains restrained , however , by the oversupply of relatively new or recently upgraded equipment , especially onshore and offshore drilling rigs . demand for our drilling and completions capital equipment offerings remains far below the level achieved during the last newbuild cycle . global offshore and subsea activity remain at historically low levels , limiting demand for our product offerings in that market . the revenue of our valve solutions product line is also influenced by energy prices , but to a lesser extent than the remainder of our business , resulting in more stable operating and financial results over time . the outlook for an increase in demand for valves from the oil and natural gas industry worldwide has been positive due to planned investments in global refinery and petrochemical projects , as well as the construction of additional pipeline capacity in north america . however , the imposition of steel tariffs on valves imported into the u.s. has clouded this picture to some extent . the president of the united states has issued proclamations imposing tariffs on imports of selected products , including those sourced from china . in particular , the u.s. government has imposed global tariffs on certain imported steel and aluminum products pursuant to section 232 of the trade expansion act of 1962 , as well as tariffs on $ 250 billion worth of chinese imports pursuant to section 301 of the trade act of 1974. in response , china and other countries have imposed retaliatory tariffs on a wide range of u.s. products , including those containing steel and aluminum . these tariffs have caused our cost of raw materials to increase and their ultimate impact on our business and operations is uncertain . however , in response , we are taking actions to mitigate the impact , including through the diversification of our supply chain . the table below shows average crude oil and natural gas prices for west texas intermediate crude oil ( wti ) , united kingdom brent crude oil ( brent ) , and henry hub natural gas : replace_table_token_3_th average wti and brent oil prices were 28 % and 31 % higher , respectively , for the year ended december 31 , 2018 compared to 2017 . however , oil prices declined sharply in the fourth quarter of 2018 due to concerns over slowing global oil demand and increases in u.s. oil production . the spot wti oil price closed at $ 45.15 per barrel as of december 31 , 2018 versus $ 60.46 as of december 31 , 2017 . average natural gas prices were 6 % higher in 2018 than 2017 . 36 the table below shows the average number of active drilling rigs operating by geographic area and drilling for different purposes based on the weekly rig count information published by baker hughes , a ge company . replace_table_token_4_th as a result of higher oil and natural gas prices , the average u.s. and international rig counts in 2018 increased 18 % and 4 % , respectively , as compared to 2017 , while the canadian rig count decreased 7 % compared to 2017 . the u.s. rig count reached a trough of 404 rigs in the second quarter of 2016. since then , the number of working rigs in the u.s. has increased steadily with 1,083 active rigs as of december 31 , 2018 . a substantial portion of our revenue is impacted by the level of rig activity and the number of wells completed . story_separator_special_tag approximately $ 33.0 million of the increase relates to improved sales volumes of our drilling products primarily associated with the 72 % increase in the average u.s. rig count compared to the prior year . the improvement in volumes was particularly strong for consumable products sold to drilling contractors both for rig mud pump upgrades and rig operations . the increase in drilling products was partially offset by lower sales volumes and demand for our remotely operated subsea vehicles , associated subsea systems and other offshore products , which was largely attributable to reduced investment in global offshore projects . completions segment — revenue increased $ 128.4 million , or 97.4 % , to $ 260.2 million during the year ended december 31 , 2017 compared to the year ended december 31 , 2016 . the increase in drilling and completions budgets of exploration and production companies has led to an increase in market demand for our completions products . approximately $ 76 million of the increase is a result of higher sales volumes for our well stimulation and intervention products , particularly in north america . in addition , segment revenue includes $ 35.5 million of revenue from the acquisition of the remaining membership interests of global tubing in the fourth quarter of 2017. the remaining increase in segment revenues was due to higher sales of our downhole products , including revenue from our acquisition of multilift in the third quarter of 2017 . production & infrastructure segment — revenue increased $ 93.5 million , or 40.0 % , to $ 327.3 million during the year ended december 31 , 2017 compared to the year ended december 31 , 2016 . the increase in drilling and completions budgets of exploration and production companies and resulting infrastructure spending have led to increased sales of our surface production equipment and valve products . approximately half of the increase is attributable to higher sales volumes in our activity-based production equipment . the remaining segment revenue increase was due to higher sales of valves , including revenue from our acquisition of cooper in the first quarter of 2017 . segment operating income ( loss ) and segment operating margin percentage segment operating loss for the year ended december 31 , 2017 improved $ 61.5 million , to a loss of $ 63.9 million for the year ended december 31 , 2017 compared to a loss of $ 125.4 million for the year ended december 31 , 2016 . in the third quarter of 2017 , we were adversely affected by hurricane harvey , which temporarily idled facilities and operations , resulting in foregone revenue and under-absorption of manufacturing costs . the operating margin percentage improved to ( 7.8 ) % for the year ended december 31 , 2017 from ( 21.3 ) % for the year ended december 31 , 2016 . the segment operating margin percentage is calculated by dividing segment operating loss by revenue for the period . the change in operating margin percentage for each segment is explained as follows : drilling & subsea segment — the operating margin percentage improved to ( 13.4 ) % for the year ended december 31 , 2017 compared to ( 23.6 ) % for the year ended december 31 , 2016 . the year ended december 31 , 2017 included $ 3.6 million of severance and facility closure costs . the year ended december 31 , 2016 included $ 12.6 million of inventory write-downs attributable to lower activity levels and reduced pricing , severance and facility closure costs . the remaining increase in operating margins was driven by higher activity levels , which caused an improvement in manufacturing scale efficiencies , as well as a better mix of higher margin product sales . for the segment , the margin improvement for our drilling products was partially offset by lower margins for our subsea products . completions segment — the operating margin percentage improved to ( 2.6 ) % for the year ended december 31 , 2017 from ( 34.6 ) % for the year ended december 31 , 2016 . the year ended december 31 , 2017 included $ 9.2 million of inventory write-downs attributable to the decision to exit specific product lines in the fourth quarter 2017. the year ended december 31 , 2016 included $ 21.1 million of charges for inventory write-downs attributable to lower activity levels and reduced pricing , severance and facility closure costs . the remaining increase in operating margin percentage is due to increased operating leverage on higher revenue and volumes . operating results were also positively impacted by an improvement in earnings for global tubing , llc which was reported as an equity method investment until our acquisition of the remaining membership interests in october 2017 . production & infrastructure segment — the operating margin percentage improved to 2.4 % for the year ended december 31 , 2017 , from 0.3 % for the year ended december 31 , 2016 . the years ended december 31 , 2017 and december 31 , 2016 included costs related to inventory write-downs , facility closure costs and severance totaling $ 4.9 43 million and $ 3.9 million , respectively . the remaining increase in operating margins was primarily attributable to higher activity levels leading to increased operating leverage in our activity-based production equipment products . corporate — selling , general and administrative expenses for corporate increased $ 6.0 million , or 21.8 % , for the year ended december 31 , 2017 compared to the year ended december 31 , 2016 due to higher personnel costs , including bonus accruals , and higher professional fees . corporate costs include payroll , professional fees and other costs for general management , administration , marketing , finance , legal , information technology and human resources . other items not included in segment operating loss several items are not included in segment operating loss , but are included in total operating loss

net cash used in investing activities was $ 188.0 million and $ 11.1 million for the years ended december 31 , 2017 and 2016 , respectively . the increase was primarily due to $ 162.2 million of cash consideration ( net of cash acquired ) paid for three acquisitions in 2017 compared $ 4.1 million paid for one acquisition in 2016 . in addition , capital expenditures of $ 26.7 million in 2017 increased compared to $ 16.8 million during 2016 . net cash provided by financing activities 2018 vs. 2017 . net cash provided by financing activities was $ 6.5 million and $ 100.6 million for the years ended december 31 , 2018 and 2017 , respectively . the decrease primarily resulted from net borrowings on our credit facility of $ 10.2 million in 2018 compared to $ 107.4 million in 2017 . 2017 vs. 2016 . net cash provided by financing activities was $ 100.6 million and $ 86.2 million for the years ended december 31 , 2017 and 2016 , respectively . the increase was primarily due to $ 107.4 million of borrowings on our credit facility in 2017 compared to $ 87.7 million of proceeds from equity issuances in 2016 . senior notes due 2021 in october 2013 , we issued $ 300.0 million of 6.25 % senior unsecured notes due 2021 at par , and in november 2013 , we issued an additional $ 100.0 million aggregate principal amount of the notes at a price of 103.25 % of par , plus accrued interest from october 2 , 2013 ( the “ senior notes ” ) . the senior notes bear interest at a rate of 6.25 % per annum , payable on april 1 and october 1 of each year , and mature on october 1 , 2021. net proceeds from the issuance of approximately $ 394.0 million , after deducting initial purchasers ' discounts and offering expenses and excluding accrued interest paid by the purchasers , were used for the repayment of the then-outstanding term loan balance and a portion of the credit facility balance .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```net cash used in investing activities was $ 188.0 million and $ 11.1 million for the years ended december 31 , 2017 and 2016 , respectively . the increase was primarily due to $ 162.2 million of cash consideration ( net of cash acquired ) paid for three acquisitions in 2017 compared $ 4.1 million paid for one acquisition in 2016 . in addition , capital expenditures of $ 26.7 million in 2017 increased compared to $ 16.8 million during 2016 . net cash provided by financing activities 2018 vs. 2017 . net cash provided by financing activities was $ 6.5 million and $ 100.6 million for the years ended december 31 , 2018 and 2017 , respectively . the decrease primarily resulted from net borrowings on our credit facility of $ 10.2 million in 2018 compared to $ 107.4 million in 2017 . 2017 vs. 2016 . net cash provided by financing activities was $ 100.6 million and $ 86.2 million for the years ended december 31 , 2017 and 2016 , respectively . the increase was primarily due to $ 107.4 million of borrowings on our credit facility in 2017 compared to $ 87.7 million of proceeds from equity issuances in 2016 . senior notes due 2021 in october 2013 , we issued $ 300.0 million of 6.25 % senior unsecured notes due 2021 at par , and in november 2013 , we issued an additional $ 100.0 million aggregate principal amount of the notes at a price of 103.25 % of par , plus accrued interest from october 2 , 2013 ( the “ senior notes ” ) . the senior notes bear interest at a rate of 6.25 % per annum , payable on april 1 and october 1 of each year , and mature on october 1 , 2021. net proceeds from the issuance of approximately $ 394.0 million , after deducting initial purchasers ' discounts and offering expenses and excluding accrued interest paid by the purchasers , were used for the repayment of the then-outstanding term loan balance and a portion of the credit facility balance .
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 Suspicious Activity Report : 35 market conditions the level of demand for our products is directly related to activity levels and the capital and operating budgets of our customers , which in turn are heavily influenced by energy prices and expectations as to future price trends . in addition , the availability of existing capital equipment adequate to serve exploration and production requirements , or lack thereof , drives demand for our capital equipment products . the probability of any cyclical change in energy prices and the extent and duration of such a change are difficult to predict . oil prices strengthened in 2017 and through much of 2018 , giving rise to higher drilling and completions activity and spending by our customers , primarily in north america . the volume of rigs drilling for oil and natural gas in north america and the level of hydraulic fracturing and other well completion activities are drivers for our revenue from this region . the heightened level of activity led to increased revenues and orders in 2017 and 2018 , principally from the sale of consumable products . more recently , these favorable results have been tempered due to the decline in oil prices resulting from slowing growth in global oil demand and a surge in u.s. oil production . in addition , pipeline capacity constraints in the permian basin have limited the ability of operators to transport additional production from this basin , causing a reduction in completion activity in the fourth quarter of 2018. additional pipeline capacity is projected to come online sometime in 2019. drilling and completions activity for the u.s. onshore market was strong through much of 2018 , before falling off late in the year . activity in regions with higher costs for the production of energy , especially offshore and in some international regions , has lagged the u.s. onshore activity recovery . early signs of an increase in activity in these areas began to emerge in 2018 , but the timing and pace of any such recovery has been thrown into doubt by the recent decrease in oil prices . higher onshore activity levels drive increased demand for our drilling and completion consumable products , and our engineered process systems and production equipment . demand for the construction of new capital equipment by our customers remains restrained , however , by the oversupply of relatively new or recently upgraded equipment , especially onshore and offshore drilling rigs . demand for our drilling and completions capital equipment offerings remains far below the level achieved during the last newbuild cycle . global offshore and subsea activity remain at historically low levels , limiting demand for our product offerings in that market . the revenue of our valve solutions product line is also influenced by energy prices , but to a lesser extent than the remainder of our business , resulting in more stable operating and financial results over time . the outlook for an increase in demand for valves from the oil and natural gas industry worldwide has been positive due to planned investments in global refinery and petrochemical projects , as well as the construction of additional pipeline capacity in north america . however , the imposition of steel tariffs on valves imported into the u.s. has clouded this picture to some extent . the president of the united states has issued proclamations imposing tariffs on imports of selected products , including those sourced from china . in particular , the u.s. government has imposed global tariffs on certain imported steel and aluminum products pursuant to section 232 of the trade expansion act of 1962 , as well as tariffs on $ 250 billion worth of chinese imports pursuant to section 301 of the trade act of 1974. in response , china and other countries have imposed retaliatory tariffs on a wide range of u.s. products , including those containing steel and aluminum . these tariffs have caused our cost of raw materials to increase and their ultimate impact on our business and operations is uncertain . however , in response , we are taking actions to mitigate the impact , including through the diversification of our supply chain . the table below shows average crude oil and natural gas prices for west texas intermediate crude oil ( wti ) , united kingdom brent crude oil ( brent ) , and henry hub natural gas : replace_table_token_3_th average wti and brent oil prices were 28 % and 31 % higher , respectively , for the year ended december 31 , 2018 compared to 2017 . however , oil prices declined sharply in the fourth quarter of 2018 due to concerns over slowing global oil demand and increases in u.s. oil production . the spot wti oil price closed at $ 45.15 per barrel as of december 31 , 2018 versus $ 60.46 as of december 31 , 2017 . average natural gas prices were 6 % higher in 2018 than 2017 . 36 the table below shows the average number of active drilling rigs operating by geographic area and drilling for different purposes based on the weekly rig count information published by baker hughes , a ge company . replace_table_token_4_th as a result of higher oil and natural gas prices , the average u.s. and international rig counts in 2018 increased 18 % and 4 % , respectively , as compared to 2017 , while the canadian rig count decreased 7 % compared to 2017 . the u.s. rig count reached a trough of 404 rigs in the second quarter of 2016. since then , the number of working rigs in the u.s. has increased steadily with 1,083 active rigs as of december 31 , 2018 . a substantial portion of our revenue is impacted by the level of rig activity and the number of wells completed . story_separator_special_tag approximately $ 33.0 million of the increase relates to improved sales volumes of our drilling products primarily associated with the 72 % increase in the average u.s. rig count compared to the prior year . the improvement in volumes was particularly strong for consumable products sold to drilling contractors both for rig mud pump upgrades and rig operations . the increase in drilling products was partially offset by lower sales volumes and demand for our remotely operated subsea vehicles , associated subsea systems and other offshore products , which was largely attributable to reduced investment in global offshore projects . completions segment — revenue increased $ 128.4 million , or 97.4 % , to $ 260.2 million during the year ended december 31 , 2017 compared to the year ended december 31 , 2016 . the increase in drilling and completions budgets of exploration and production companies has led to an increase in market demand for our completions products . approximately $ 76 million of the increase is a result of higher sales volumes for our well stimulation and intervention products , particularly in north america . in addition , segment revenue includes $ 35.5 million of revenue from the acquisition of the remaining membership interests of global tubing in the fourth quarter of 2017. the remaining increase in segment revenues was due to higher sales of our downhole products , including revenue from our acquisition of multilift in the third quarter of 2017 . production & infrastructure segment — revenue increased $ 93.5 million , or 40.0 % , to $ 327.3 million during the year ended december 31 , 2017 compared to the year ended december 31 , 2016 . the increase in drilling and completions budgets of exploration and production companies and resulting infrastructure spending have led to increased sales of our surface production equipment and valve products . approximately half of the increase is attributable to higher sales volumes in our activity-based production equipment . the remaining segment revenue increase was due to higher sales of valves , including revenue from our acquisition of cooper in the first quarter of 2017 . segment operating income ( loss ) and segment operating margin percentage segment operating loss for the year ended december 31 , 2017 improved $ 61.5 million , to a loss of $ 63.9 million for the year ended december 31 , 2017 compared to a loss of $ 125.4 million for the year ended december 31 , 2016 . in the third quarter of 2017 , we were adversely affected by hurricane harvey , which temporarily idled facilities and operations , resulting in foregone revenue and under-absorption of manufacturing costs . the operating margin percentage improved to ( 7.8 ) % for the year ended december 31 , 2017 from ( 21.3 ) % for the year ended december 31 , 2016 . the segment operating margin percentage is calculated by dividing segment operating loss by revenue for the period . the change in operating margin percentage for each segment is explained as follows : drilling & subsea segment — the operating margin percentage improved to ( 13.4 ) % for the year ended december 31 , 2017 compared to ( 23.6 ) % for the year ended december 31 , 2016 . the year ended december 31 , 2017 included $ 3.6 million of severance and facility closure costs . the year ended december 31 , 2016 included $ 12.6 million of inventory write-downs attributable to lower activity levels and reduced pricing , severance and facility closure costs . the remaining increase in operating margins was driven by higher activity levels , which caused an improvement in manufacturing scale efficiencies , as well as a better mix of higher margin product sales . for the segment , the margin improvement for our drilling products was partially offset by lower margins for our subsea products . completions segment — the operating margin percentage improved to ( 2.6 ) % for the year ended december 31 , 2017 from ( 34.6 ) % for the year ended december 31 , 2016 . the year ended december 31 , 2017 included $ 9.2 million of inventory write-downs attributable to the decision to exit specific product lines in the fourth quarter 2017. the year ended december 31 , 2016 included $ 21.1 million of charges for inventory write-downs attributable to lower activity levels and reduced pricing , severance and facility closure costs . the remaining increase in operating margin percentage is due to increased operating leverage on higher revenue and volumes . operating results were also positively impacted by an improvement in earnings for global tubing , llc which was reported as an equity method investment until our acquisition of the remaining membership interests in october 2017 . production & infrastructure segment — the operating margin percentage improved to 2.4 % for the year ended december 31 , 2017 , from 0.3 % for the year ended december 31 , 2016 . the years ended december 31 , 2017 and december 31 , 2016 included costs related to inventory write-downs , facility closure costs and severance totaling $ 4.9 43 million and $ 3.9 million , respectively . the remaining increase in operating margins was primarily attributable to higher activity levels leading to increased operating leverage in our activity-based production equipment products . corporate — selling , general and administrative expenses for corporate increased $ 6.0 million , or 21.8 % , for the year ended december 31 , 2017 compared to the year ended december 31 , 2016 due to higher personnel costs , including bonus accruals , and higher professional fees . corporate costs include payroll , professional fees and other costs for general management , administration , marketing , finance , legal , information technology and human resources . other items not included in segment operating loss several items are not included in segment operating loss , but are included in total operating loss

