ProPetro Holding (PUMP) 10-Q 8 Nov 18 2018 Q3 Quarterly report Financial data

DOCUMENT AND ENTITY INFORMATION

DOCUMENT AND ENTITY INFORMATION - shares	9 Months Ended
	Sep. 30, 2018	Nov. 01, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	ProPetro Holding Corp.
Entity Central Index Key	1,680,247
Document Type	10-Q
Document Period End Date	Sep. 30, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Small Business	false
Entity Ex Transition Period	true
Entity Common Stock, Shares Outstanding (in shares)		83,567,354

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
CURRENT ASSETS:
Cash and cash equivalents	$ 78,164	$ 23,949
Accounts receivable - net of allowance for doubtful accounts of $457 and $443, respectively	252,390	199,656
Inventories	6,681	6,184
Prepaid expenses	2,911	5,123
Other current assets	1,179	748
Total current assets	341,325	235,660
PROPERTY AND EQUIPMENT - Net of accumulated depreciation	586,218	470,910
OTHER NONCURRENT ASSETS:
Goodwill	9,425	9,425
Intangible assets - net of amortization	85	301
Deferred revenue rebate - net of amortization	0	615
Other noncurrent assets	2,665	2,121
Total other noncurrent assets	12,175	12,462
TOTAL ASSETS	939,718	719,032
CURRENT LIABILITIES:
Accounts payable	250,074	211,149
Accrued and other current liabilities	20,774	16,607
Current portion of long-term debt	9,088	15,764
Accrued interest payable	480	76
Total current liabilities	280,416	243,596
DEFERRED INCOME TAXES	39,958	4,881
LONG-TERM DEBT	80,000	57,178
OTHER LONG-TERM LIABILITIES	125	125
Total liabilities	400,499	305,780
COMMITMENTS AND CONTINGENCIES (Note 9)
SHAREHOLDERS’ EQUITY:
Common stock, $0.001 par value, 200,000,000 shares authorized, 83,543,839 and 83,039,854 shares issued, respectively	84	83
Additional paid-in capital	611,348	607,466
Accumulated deficit	(72,213)	(194,297)
Total shareholders’ equity	539,219	413,252
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 939,718	$ 719,032

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Allowance for doubtful accounts	$ 457	$ 443
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized (in shares)	200,000,000	200,000,000
Common stock, issued (in shares)	83,543,839	83,039,854
Common stock, outstanding (in shares)	83,543,839	83,039,854

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement [Abstract]
REVENUE - Service revenue	$ 434,041	$ 282,730	$ 1,279,148	$ 668,153
COSTS AND EXPENSES
Cost of services (exclusive of depreciation and amortization)	320,146	225,433	970,156	551,775
General and administrative (inclusive of stock-based compensation)	12,821	11,106	38,943	38,881
Depreciation and amortization	23,217	14,745	63,428	38,602
Loss on disposal of assets	16,407	8,742	43,061	28,971
Total costs and expenses	372,591	260,026	1,115,588	658,229
OPERATING INCOME	61,450	22,704	163,560	9,924
OTHER EXPENSE:
Interest expense	(1,480)	(644)	(4,973)	(6,469)
Other expense	(93)	(191)	(505)	(792)
Total other expense	(1,573)	(835)	(5,478)	(7,261)
INCOME BEFORE INCOME TAXES	59,877	21,869	158,082	2,663
INCOME TAX (EXPENSE)/BENEFIT	(13,592)	96	(35,998)	(128)
NET INCOME	$ 46,285	$ 21,965	$ 122,084	$ 2,535
NET INCOME PER COMMON SHARE:
Basic (in dollars per share)	$ 0.55	$ 0.26	$ 1.46	$ 0.03
Diluted (in dollars per share)	$ 0.53	$ 0.25	$ 1.40	$ 0.03
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	83,544	83,040	83,359	74,124
Diluted (in shares)	86,878	86,264	87,153	77,118

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - 9 months ended Sep. 30, 2018 - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance (in shares) at Dec. 31, 2017		83,040
BALANCE at Dec. 31, 2017	$ 413,252	$ 83	$ 607,466	$ (194,297)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation cost	3,832		3,832
Issuance of equity awards, net (in shares)		504
Issuance of equity awards, net	51	$ 1	50
Net income	122,084			122,084
Balance (in shares) at Sep. 30, 2018		83,544
BALANCE at Sep. 30, 2018	$ 539,219	$ 84	$ 611,348	$ (72,213)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 122,084	$ 2,535
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	63,428	38,602
Deferred income tax expense	34,546	166
Amortization of deferred revenue rebate	615	1,385
Amortization of deferred debt issuance costs	295	3,322
Stock-based compensation	3,832	8,730
Loss on disposal of fixed assets	42,898	28,971
Gain on interest rate swap	0	(226)
Changes in operating assets and liabilities:
Accounts receivable	(52,734)	(44,868)
Other current assets	(431)	3,271
Inventories	(496)	(4,435)
Prepaid expenses	2,265	(910)
Accounts payable	26,378	41,564
Accrued and other current liabilities	7,384	589
Accrued interest	1,030	(23)
Net cash provided by operating activities	251,094	78,673
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(212,152)	(193,820)
Proceeds from sale of assets	3,280	4,237
Net cash used in investing activities	(208,872)	(189,583)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from borrowings	77,378	27,112
Repayments of borrowings	(61,858)	(164,638)
Repayments of insurance financing	(3,218)	(2,900)
Payment of debt issuance costs	(360)	(1,653)
Proceeds from exercise of equity awards	51	0
Proceeds from IPO	0	185,500
Payment of IPO costs	0	(15,099)
Net cash provided by financing activities	11,993	28,322
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	54,215	(82,588)
CASH AND CASH EQUIVALENTS - Beginning of period	23,949	133,596
CASH AND CASH EQUIVALENTS - End of period	$ 78,164	$ 51,008

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements of ProPetro Holding Corp. and its subsidiary (the "Company," "we," "us" or "our") have been prepared in accordance with the requirements of the U.S. Securities and Exchange Commission ("SEC") for interim financial information and do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America ("GAAP") for annual financial statements. Those adjustments (which consisted of normal recurring accruals) that are, in the opinion of management, necessary for a fair presentation of the results of the interim periods have been made. Results of operations for such interim periods are not necessarily indicative of the results of operations for a full year due to changes in market conditions and other factors. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2017 included in our Form 10-K filed with the SEC ("Form 10-K"). Revenue Recognition The Company’s services are sold based upon contracts with customers. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. The following is a description of the principal activities, separated by reportable segment and all other, from which the Company generates its revenue. Pressure Pumping — Pressure pumping consists of downhole pumping services, which includes hydraulic fracturing (inclusive of acidizing services) and cementing. Hydraulic fracturing is a well-stimulation technique intended to optimize hydrocarbon flow paths during the completion phase of shale wellbores. The process involves the injection of water, sand and chemicals under high pressure into shale formations. Hydraulic fracturing contracts with our customer have one performance obligation, which is the contracted total stages, satisfied over time. We recognize revenue over time using a progress output method, unit-of-work performed method, which is based on the agreed fixed transaction price and actual stages completed. We believe that recognizing revenue based on actual stages completed faithfully depicts how our hydraulic fracturing services are transferred to our customers over time. Acidizing, which is part of our hydraulic fracturing operating segment, involves a well-stimulation technique where acid is injected under pressure into formations to form or expand fissures. Acidizing provides downhole solutions, and contracts with customers have one performance obligation, which is satisfied at a point-in-time upon completion of the contracted service when control is transferred to the customer. Jobs for these services are typically short term in nature, with most jobs completed in less than a day. We recognize acidizing revenue at a point-in-time, upon completion of the performance obligation. Our cementing services use pressure pumping equipment to deliver a slurry of liquid cement that is pumped down a well between the casing and the borehole. Cementing involves well bonding solutions, and contracts with customers have one performance obligation, which is satisfied at a point-in-time upon completion of the contracted service when control is transferred to the customer. Jobs for these services are typically short term in nature, with most jobs completed in less than a day. We recognize cementing revenue at a point-in-time, upon completion of the performance obligation. The transaction price for each performance obligation for all our pressure pumping services are fixed per our contract with customer. All Other — All other services consist of our surface air drilling, drilling, coil tubing and flowback, which are all downhole well stimulation and completion/remedial services. The performance obligation for each of the services has a fixed transaction price which is satisfied at a point-in-time upon completion of the service when control is transferred to the customer. Accordingly, we recognize revenue at a point-in-time, upon completion of the service and transfer of control to the customer. Accounts Receivable Accounts receivables are stated at the amount billed and billable to customers. At September 30, 2018 and December 31, 2017 , accrued revenue (unbilled receivable) included as part of our accounts receivable was $23.3 million and $24.8 million , respectively. At September 30, 2018 , the transaction price allocated to the remaining performance obligation for our partially completed hydraulic fracturing operations was $27.8 million , which is expected to be completed and recognized in one month following the current period balance sheet date, in our pressure pumping reportable segment. Initial Public Offering On March 22, 2017, we consummated our initial public offering ("IPO"), in which 25,000,000 shares of our common stock, par value $0.001 per share, were sold at a public offering price of $14.00 per share, with 13,250,000 shares issued and sold by the Company and 11,750,000 shares sold by selling stockholders. We received net proceeds of approximately $170.1 million after deducting $10.9 million of underwriting discounts and commissions, and $4.5 million of other offering expenses. At closing, we used the proceeds (i) to repay $71.8 million in outstanding borrowings under our term loan, (ii) $86.8 million to fund the purchase of additional hydraulic fracturing units and other equipment, and (iii) the remaining for general corporate purposes. In connection with the IPO, we executed a stock split, such that each holder of common stock of the Company received 1.45 shares of common stock for every one share of previous common stock, and all 16,999,990 shares of our then-outstanding Series A preferred stock converted to common stock on a 1 :1 basis.

Recently Issued Accounting Stan

Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 2018
Accounting Policies [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards In May 2014, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU No. 2014-09 requires entities to recognize revenue to depict transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. ASU No. 2014-09 requires entities to disclose both qualitative and quantitative information that enables users of the consolidated financial statements to understand the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, including disclosure of significant judgments affecting the recognition of revenue. ASU No. 2014-09 was effective for annual periods beginning after December 15, 2017, using either the full retrospective or modified retrospective method. We adopted ASU No. 2014-09 effective January 1, 2018, using the modified retrospective method. The adoption of this guidance had no impact on our prior period results of operations. This is because prior to the effective date of the new revenue guidance, substantially all of our performance obligations per our contracts with customers, except for hydraulic fracturing, were completed at a point-in-time, and revenue recognized when control was transferred to the customers, which is consistent with ASU No. 2014-09. Our hydraulic fracturing segment performance obligation is satisfied over time. Prior to the effective date of the new revenue standards, our hydraulic fracturing segment revenue was recognized based on actual stages completed, i.e. using the output method, which faithfully depicts how our services are transferred over time to our customers and is consistent with the requirements of the new guidance, ASU No. 2014-09. Accordingly, no adjustments to our consolidated financial statements were required, other than the additional disclosures included as part of Note 1 in these condensed consolidated financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases . This ASU introduces a lessee model that brings most leases on the balance sheet. This new standard increases transparency and comparability by recognizing a lessee’s rights and obligations resulting from leases by recording them on the balance sheet as Right of Use ("ROU") Assets and Lease Liabilities. Leases will be classified as either finance or operating, which will impact the pattern of expense recognition on the income statement. This ASU eliminates the use of bright-line tests in determining lease classification as required in the current guidance. This ASU also requires additional qualitative and quantitative disclosures to better enable users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. This ASU is effective for annual reporting periods beginning after December 15, 2018, using a modified retrospective approach. Early adoption is permitted. We are in the process of finalizing the impact this guidance will have on our consolidated financial statements. Per our analysis thus far, we do not expect this new guidance to have a material impact on our results of operations . We will however, record the balance sheet impact associated with ROU assets and lease liabilities resulting from our leases. Additionally, we intend to adopt the modified retrospective approach with an election to implement the guidance only in our 2019 consolidated financial statements, which is the year it becomes effective for us. In January 2017, the FASB issued ASU No. 2017-04, Simplifying the Test for Goodwill Impairment , which removes the requirement to compare the implied fair value of goodwill with its carrying amount as part of step two of the goodwill impairment test. As a result, under this ASU, an entity would recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit's fair value. Although, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. This ASU is effective for impairment tests in fiscal years beginning after December 15, 2019, on a prospective basis. Early adoption is permitted for interim or annual goodwill impairment tests performed on testing dates after January 1, 2017. We believe that the adoption of this guidance will not materially affect our consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurement Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the "exit price") in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various valuation approaches and establishes a hierarchy for inputs used in measuring fair value that maximizes the use of relevant observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used, when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the assumptions other market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the observability of inputs as follows: Level 1 — Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these instruments does not entail a significant degree of judgment. Level 2 — Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Assets and Liabilities Measured at Fair Value on a Recurring Basis Our financial instruments include cash and cash equivalents, accounts receivable and accounts payable, accrued expenses and long-term debt. The estimated fair value of our financial instruments at September 30, 2018 and December 31, 2017 approximated or equaled their carrying values as reflected in our condensed consolidated balance sheets. Assets Measured at Fair Value on a Nonrecurring Basis No assets were measured at fair value on a nonrecurring basis at September 30, 2018 and December 31, 2017 , respectively. No impairment of property and equipment was recorded during the nine months ended September 30, 2018 and 2017 . We generally apply fair value techniques to our reporting units on a nonrecurring basis associated with valuing potential impairment loss related to goodwill. Our estimate of the reporting unit fair value is based on a combination of income and market approaches, Level 1 and 3, respectively, in the fair value hierarchy. The income approach involves the use of a discounted cash flow method, with the cash flow projections discounted at an appropriate discount rate. The market approach involves the use of comparable public companies market multiples in estimating the fair value. Significant assumptions include projected revenue growth, capital expenditures, utilization, gross margins, discount rates, terminal growth rates, and weight allocation between income and market approaches. If the reporting unit's carrying amount exceeds its fair value, we consider goodwill impaired, and the impairment loss is calculated and recorded. There were no additions to, or disposal of, goodwill during the nine months ended September 30, 2018 and 2017 . At December 31, 2017 , we determined our goodwill carrying value not to be impaired as per our annual impairment test.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt ABL Credit Facility On March 22, 2017, we entered into a new revolving credit facility with a $150.0 million borrowing capacity ("ABL Credit Facility"). Borrowings under the ABL Credit Facility accrue interest based on a three-tier pricing grid tied to availability, and we may elect for loans to be based on either LIBOR or base rate, plus the applicable margin, which ranges from 1.75% to 2.25% for LIBOR loans and 0.75% to 1.25% for base rate loans, with no LIBOR floor. Borrowings under the ABL Credit Facility are secured by a first priority lien and security interest in substantially all assets of the Company. The ABL Credit Facility has a tenor of 5 years and a borrowing base of 85% of eligible accounts receivable less customary reserves. Under this facility we are required to comply, subject to certain exceptions and materiality qualifiers, with certain customary affirmative and negative covenants, including, but not limited to, covenants pertaining to our ability to incur liens, indebtedness, changes in the nature of our business, mergers and other fundamental changes, disposal of assets, investments and restricted payments, amendments to our organizational documents or accounting policies, prepayments of certain debt, dividends, transactions with affiliates, and certain other activities. In addition, the ABL Credit Facility includes a Springing Fixed Charge Coverage Ratio of 1.0 x when excess availability is less than the greater of (i) 10% of the lesser of the facility size and the Borrowing Base and (ii) $12.0 million . The ABL has a commitment fee of 0.375% , which reduces to 0.25% if utilization is greater than 50% of the borrowing base. On February 22, 2018, we entered into an amendment with our lenders to increase the capacity of the ABL Credit Facility. The amendment increased total capacity under the facility from $150.0 million to $200.0 million . The amended ABL Credit Facility includes a Springing Fixed Charge Coverage Ratio of 1.0 x when excess availability is less than the greater of (i) 10% of the lesser of the facility size and the Borrowing Base and (ii) $15 million . Total debt consisted of the following at September 30, 2018 and December 31, 2017 , respectively: ($ in thousands) 2018 2017 ABL Credit Facility $ 80,000 $ 55,000 Equipment financing 9,088 17,942 Total debt 89,088 72,942 Less current portion of long-term debt 9,088 15,764 Total long-term debt $ 80,000 $ 57,178 The loan origination costs relating to the ABL Credit Facility are classified as an asset in our balance sheet. Annual Maturities — Scheduled remaining annual maturities of total debt are as follows at September 30, 2018 : ($ in thousands) 2018 $ 9,088 2019 — 2020 — 2021 — 2022 and thereafter 80,000 Total $ 89,088

Reportable Segment Information

Reportable Segment Information	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Reportable Segment Information	Reportable Segment Information The Company has five operating segments for which discreet financial information is readily available: hydraulic fracturing (inclusive of acidizing), cementing, coil tubing, flowback, and drilling. These operating segments represent how the Chief Operating Decision Maker evaluates performance and allocates resources. During the fourth quarter of 2017, our acidizing operation was consolidated into our hydraulic fracturing operating segment, and we no longer maintain discreet financial information for acidizing, resulting in a reduction in the number of our operating segments from seven to six as of the year ended December 31, 2017. On August 31, 2018, we divested our surface air drilling operations, included in our "all other" category, in order to continue to focus and position ourselves as a Permian Basin-focused pressure pumping business because we believe the pressure pumping market in the Permian Basin offers more supportive long-term growth fundamentals. The divestiture of our surface air drilling operations did not qualify for presentation and disclosure as discontinued operations, and accordingly we have recorded the resulting loss on disposal of our surface air drilling of $0.3 million , as part of our loss on disposal of asset in our statement of operations. The divestiture of our surface air drilling operations resulted in a reduction in the number of our current operating segments to five . The change in the number of our operating segments did not impact our reportable segment information reported during the three and nine months ended September 30, 2018 and 2017 . In accordance with Accounting Standards Codification 280— Segment Reporting , the Company has one reportable segment (pressure pumping) comprised of the hydraulic fracturing and cementing operating segments. All other operating segments and corporate administrative expenses are included in the ‘‘all other’’ category in the table below. Inter-segment revenues are not material and are not shown separately in the table below. The Company manages and assesses the performance of the reportable segment by its adjusted EBITDA (earnings before other income (expense), interest, taxes, depreciation & amortization, stock-based compensation expense, impairment expense, (gain)/loss on disposal of assets and other unusual or nonrecurring expenses or income). A reconciliation from segment level financial information to the consolidated statement of operations is provided in the table below. Three Months Ended September 30, 2018 ($ in thousands) Pressure Pumping All Other Total Service revenue $ 421,436 $ 12,605 $ 434,041 Adjusted EBITDA $ 105,069 $ (1,701 ) $ 103,368 Depreciation and amortization $ 22,026 $ 1,191 $ 23,217 Goodwill $ 9,425 $ — $ 9,425 Capital expenditures $ 73,143 $ 1,060 $ 74,203 Total assets $ 903,653 $ 36,065 $ 939,718 Three Months Ended September 30, 2017 ($ in thousands) Pressure Pumping All Other Total Service revenue $ 271,924 $ 10,806 $ 282,730 Adjusted EBITDA $ 50,013 $ (2,245 ) $ 47,768 Depreciation and amortization $ 13,637 $ 1,108 $ 14,745 Goodwill $ 9,425 $ — $ 9,425 Capital expenditures $ 61,752 $ 765 $ 62,517 Total assets at December 31, 2017 $ 688,279 $ 30,753 $ 719,032 Nine Months Ended September 30, 2018 ($ in thousands) Pressure Pumping All Other Total Service revenue $ 1,242,286 $ 36,862 $ 1,279,148 Adjusted EBITDA $ 281,951 $ (5,871 ) $ 276,080 Depreciation and amortization $ 59,830 $ 3,598 $ 63,428 Goodwill $ 9,425 $ — $ 9,425 Capital expenditures $ 218,113 $ 6,586 $ 224,699 Total assets $ 903,653 $ 36,065 $ 939,718 Nine Months Ended September 30, 2017 ($ in thousands) Pressure Pumping All Other Total Service revenue $ 639,355 $ 28,798 $ 668,153 Adjusted EBITDA $ 98,296 $ (3,641 ) $ 94,655 Depreciation and amortization $ 35,228 $ 3,374 $ 38,602 Goodwill $ 9,425 $ — $ 9,425 Capital expenditures $ 203,097 $ 3,231 $ 206,328 Total assets at December 31, 2017 $ 688,279 $ 30,753 $ 719,032 Reconciliation of net income (loss) to adjusted EBITDA: Three Months Ended September 30, 2018 ($ in thousands) Pressure Pumping All Other Total Net income (loss) $ 66,493 $ (20,208 ) $ 46,285 Depreciation and amortization 22,026 1,191 23,217 Interest expense — 1,480 1,480 Income tax expense — 13,592 13,592 Loss on disposal of assets 16,117 290 16,407 Stock-based compensation — 1,631 1,631 Other expense — 93 93 Deferred IPO bonus expense 433 230 663 Adjusted EBITDA $ 105,069 $ (1,701 ) $ 103,368 Three Months Ended September 30, 2017 ($ in thousands) Pressure Pumping All Other Total Net income (loss) $ 28,372 $ (6,407 ) $ 21,965 Depreciation and amortization 13,637 1,108 14,745 Interest expense — 644 644 Income tax benefit — (96 ) (96 ) Loss on disposal of assets 7,552 1,190 8,742 Stock-based compensation — 751 751 Other expense — 191 191 Other general and administrative expense (1) — 149 149 Deferred IPO bonus expense 452 225 677 Adjusted EBITDA $ 50,013 $ (2,245 ) $ 47,768 (1) Other general and administrative expense relates to legal settlement expense. Nine Months Ended September 30, 2018 ($ in thousands) Pressure Pumping All Other Total Net income (loss) $ 176,952 $ (54,868 ) $ 122,084 Depreciation and amortization 59,830 3,598 63,428 Interest expense — 4,973 4,973 Income tax expense — 35,998 35,998 Loss/(gain) on disposal of assets 43,768 (707 ) 43,061 Stock-based compensation — 3,832 3,832 Other expense — 505 505 Other general and administrative expense (1) 2 18 20 Deferred IPO bonus expense 1,399 780 2,179 Adjusted EBITDA $ 281,951 $ (5,871 ) $ 276,080 Nine Months Ended September 30, 2017 ($ in thousands) Pressure Pumping All Other Total Net income (loss) $ 30,087 $ (27,552 ) $ 2,535 Depreciation and amortization 35,228 3,374 38,602 Interest expense — 6,469 6,469 Income tax expense — 128 128 Loss on disposal of assets 27,943 1,028 28,971 Stock-based compensation — 8,730 8,730 Other expense — 792 792 Other general and administrative expense (1) — 722 722 Deferred IPO bonus expense 5,038 2,668 7,706 Adjusted EBITDA $ 98,296 $ (3,641 ) $ 94,655 (1) Other general and administrative expense relates to legal settlement expense.

Net Income Per Share

Net Income Per Share	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Net Income Per Share	Net Income Per Share Basic net income per common share is computed by dividing the net income relevant to the common stockholders by the weighted-average number of shares outstanding during the period. Diluted net income per common share uses the same net income divided by the sum of the weighted-average number of shares of common stock outstanding during the period, plus dilutive effects of options, performance and restricted stock units outstanding during the period calculated using the treasury method and the potential dilutive effects of preferred stocks (if any) calculated using the if-converted method. The table below shows the calculations for the three and nine months ended September 30, 2018 and 2017 . Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except for per share data) 2018 2017 2018 2017 Numerator (both basic and diluted) Net income relevant to common stockholders $ 46,285 $ 21,965 $ 122,084 $ 2,535 Denominator Denominator for basic income per share 83,544 83,040 83,359 74,124 Dilutive effect of stock options 3,039 2,808 3,355 2,822 Dilutive effect of performance stock units 225 37 218 — Dilutive effect of non-vested restricted stock 70 379 221 172 Denominator for diluted income per share 86,878 86,264 87,153 77,118 Basic income per common share $ 0.55 $ 0.26 $ 1.46 $ 0.03 Diluted income per common share $ 0.53 $ 0.25 $ 1.40 $ 0.03 As shown in the table below, the following stock options, performance stock units and non-vested restricted stocks have not been included in the calculation of diluted income per share as they will be anti-dilutive to the calculation above. (In thousands) Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Stock options — 789 — 789 Performance stock units — — — 170 Non-vested restricted stock — — — 318 Total — 789 — 1,277

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Options A summary of the stock option activity for the nine months ended September 30, 2018 is presented below. Number Weighted Outstanding at January 1, 2018 4,636,353 $ 5.20 Granted — $ — Exercised (3,625 ) $ 14.00 Forfeited (14,736 ) $ 14.00 Expired — $ — Canceled — $ — Outstanding at September 30, 2018 4,617,992 $ 5.17 Exercisable at September 30, 2018 4,040,320 $ 3.90 The weighted average grant-date fair value of stock options granted during the nine months ended September 30, 2018 and 2017 was $0 and $3.35 , respectively. As of September 30, 2018 , the aggregate intrinsic value for our outstanding stock options was $52.3 million , and the aggregate intrinsic value for our exercisable stock options was $50.9 million . The aggregate intrinsic value for the exercised stock options during the nine months ended September 30, 2018 was $0.02 million . The remaining contractual term for the outstanding and exercisable stock options as of September 30, 2018 , was 6.1 years and 5.8 years , respectively. For the nine months ended September 30, 2018 and 2017 , we recognized $0.5 million and $2.8 million in stock compensation expense related to these stock option awards. Restricted Stock Units (Non-Vested Stock) and Performance Stock Units During the nine months ended September 30, 2018 , we granted a total of 319,250 restricted stock units ("RSUs") to employees, directors and executives pursuant to our Incentive Award Plan ("IAP"). Each RSU represents the right to receive one share of common stock. The fair value of the RSUs is based on the closing share price of our common stock on the date of grant. During the nine months ended September 30, 2018 and 2017 , the recorded stock compensation expense for all RSUs was $2.0 million and $5.8 million , respectively. As of September 30, 2018 the total unrecognized compensation expense for all RSUs was approximately $6.6 million , and is expected to be recognized over a weighted-average period of approximately 1.4 years . The following table summarizes RSUs activity during the nine months ended September 30, 2018 : Number of Weighted Outstanding at January 1, 2018 688,744 $ 13.66 Granted 319,250 $ 18.49 Vested (500,360 ) $ 13.87 Forfeited (19,951 ) $ 15.49 Expired — $ — Canceled — $ — Outstanding at September 30, 2018 487,683 $ 16.53 Effective April 18, 2018, our Board of Directors authorized and granted performance stock units ("PSUs") to certain key employees under the IAP. The actual number of shares that may be issued under the PSUs ranges from zero up to a maximum of twice the target number of performance stock unit awards granted to the participant, based on our total shareholder return relative to a designated peer group from January 1, 2018 through December 31, 2020. Compensation expense is recorded ratably over the corresponding requisite service period. The fair value of PSUs is determined using a Monte Carlo probability model. Grant recipients do not have any shareholder rights until performance relative to the peer group has been determined following the completion of the performance period and shares have been issued. During the nine months ended September 30, 2018 and 2017 , the recorded stock compensation expense for the PSUs was $1.3 million and $0.2 million , respectively. The following table summarizes information about the PSUs that were outstanding at September 30, 2018 : Period Target Shares Target Target Shares Vested Target Target Shares Weighted 2017 169,635 — — — 169,635 $ 10.73 2018 — 178,975 — — 178,975 $ 27.51 Total 169,635 178,975 — — 348,610 $ 19.34 The total stock compensation expense for the nine months ended September 30, 2018 and 2017 for all stock awards was $3.8 million and $8.7 million , respectively. The total unrecognized compensation expense as of September 30, 2018 is approximately $13.2 million , and is expected to be recognized over a weighted-average period of approximately 2.2 years.

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 2018
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions The Company leases its corporate offices from a related party pursuant to a five -year lease agreement with a five -year extension option requiring a base rent of $0.1 million per year. The Company also leases five properties adjacent to the corporate office from related parties with annual base rents of $0.03 million , $0.03 million , $0.1 million , $0.1 million , and $0.2 million . For the nine months ended September 30, 2018 and 2017 , the Company paid approximately $0.3 million and $0.2 million , respectively, for the use of transportation services from a related party. The Company also rents equipment in Elk City, Oklahoma from a related party, and for the nine months ended September 30, 2018 and 2017 , the Company paid $0.1 million and $0.1 million , respectively. At September 30, 2018 and December 31, 2017 , the Company had $0 and $0.02 million in payables, respectively, and approximately $0 and $0 in receivables, respectively, for services provided by related parties. All agreements pertaining to real property and equipment were entered into during periods where the Company had limited liquidity and related parties secured them on behalf of the Company. All related party transactions are immaterial and have not been separately shown on the face of the financial statements.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Lease We have various operating leases for office space and certain property and equipment. For the nine months ended September 30, 2018 and 2017 , we recorded operating lease expense of $ 1.2 million and $ 1.0 million , respectively. Required remaining lease payments for each fiscal year are as follows: ($ in thousands) 2018 $ 254 2019 782 2020 721 2021 721 2022 and thereafter 2,978 Total $ 5,456 Contingent Liabilities We may be subject to various legal actions, claims, and liabilities arising in the ordinary course of business. In the opinion of management, the ultimate disposition of these matters will not have a materially adverse effect on our financial position, results of operations, or liquidity.

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	The accompanying condensed consolidated financial statements of ProPetro Holding Corp. and its subsidiary (the "Company," "we," "us" or "our") have been prepared in accordance with the requirements of the U.S. Securities and Exchange Commission ("SEC") for interim financial information and do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America ("GAAP") for annual financial statements. Those adjustments (which consisted of normal recurring accruals) that are, in the opinion of management, necessary for a fair presentation of the results of the interim periods have been made. Results of operations for such interim periods are not necessarily indicative of the results of operations for a full year due to changes in market conditions and other factors. The condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto for the year ended December 31, 2017 included in our Form 10-K filed with the SEC ("Form 10-K").
Fair Value Measurement	Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the "exit price") in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various valuation approaches and establishes a hierarchy for inputs used in measuring fair value that maximizes the use of relevant observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used, when available. Observable inputs are inputs that market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the assumptions other market participants would use in pricing the asset or liability developed based on the best information available in the circumstances. The hierarchy is broken down into three levels based on the observability of inputs as follows: Level 1 — Valuations based on quoted prices in active markets for identical assets or liabilities that the Company has the ability to access. Valuation adjustments and block discounts are not applied to Level 1 instruments. Since valuations are based on quoted prices that are readily and regularly available in an active market, valuation of these instruments does not entail a significant degree of judgment. Level 2 — Valuations based on one or more quoted prices in markets that are not active or for which all significant inputs are observable, either directly or indirectly. Level 3 — Valuations based on inputs that are unobservable and significant to the overall fair value measurement. A financial instrument's categorization within the valuation hierarchy is based upon the lowest level of input that is significant to the fair value measurement. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. Assets and Liabilities Measured at Fair Value on a Recurring Basis Our financial instruments include cash and cash equivalents, accounts receivable and accounts payable, accrued expenses and long-term debt. The estimated fair value of our financial instruments at September 30, 2018 and December 31, 2017 approximated or equaled their carrying values as reflected in our condensed consolidated balance sheets
Revenue Recognition	Revenue Recognition The Company’s services are sold based upon contracts with customers. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. The following is a description of the principal activities, separated by reportable segment and all other, from which the Company generates its revenue. Pressure Pumping — Pressure pumping consists of downhole pumping services, which includes hydraulic fracturing (inclusive of acidizing services) and cementing. Hydraulic fracturing is a well-stimulation technique intended to optimize hydrocarbon flow paths during the completion phase of shale wellbores. The process involves the injection of water, sand and chemicals under high pressure into shale formations. Hydraulic fracturing contracts with our customer have one performance obligation, which is the contracted total stages, satisfied over time. We recognize revenue over time using a progress output method, unit-of-work performed method, which is based on the agreed fixed transaction price and actual stages completed. We believe that recognizing revenue based on actual stages completed faithfully depicts how our hydraulic fracturing services are transferred to our customers over time. Acidizing, which is part of our hydraulic fracturing operating segment, involves a well-stimulation technique where acid is injected under pressure into formations to form or expand fissures. Acidizing provides downhole solutions, and contracts with customers have one performance obligation, which is satisfied at a point-in-time upon completion of the contracted service when control is transferred to the customer. Jobs for these services are typically short term in nature, with most jobs completed in less than a day. We recognize acidizing revenue at a point-in-time, upon completion of the performance obligation. Our cementing services use pressure pumping equipment to deliver a slurry of liquid cement that is pumped down a well between the casing and the borehole. Cementing involves well bonding solutions, and contracts with customers have one performance obligation, which is satisfied at a point-in-time upon completion of the contracted service when control is transferred to the customer. Jobs for these services are typically short term in nature, with most jobs completed in less than a day. We recognize cementing revenue at a point-in-time, upon completion of the performance obligation. The transaction price for each performance obligation for all our pressure pumping services are fixed per our contract with customer. All Other — All other services consist of our surface air drilling, drilling, coil tubing and flowback, which are all downhole well stimulation and completion/remedial services. The performance obligation for each of the services has a fixed transaction price which is satisfied at a point-in-time upon completion of the service when control is transferred to the customer. Accordingly, we recognize revenue at a point-in-time, upon completion of the service and transfer of control to the customer.
Accounts Receivable	Accounts Receivable Accounts receivables are stated at the amount billed and billable to customers.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	9 Months Ended
	Sep. 30, 2018
Debt Disclosure [Abstract]
Schedule of debt	Total debt consisted of the following at September 30, 2018 and December 31, 2017 , respectively: ($ in thousands) 2018 2017 ABL Credit Facility $ 80,000 $ 55,000 Equipment financing 9,088 17,942 Total debt 89,088 72,942 Less current portion of long-term debt 9,088 15,764 Total long-term debt $ 80,000 $ 57,178
Annual maturities of debt	Scheduled remaining annual maturities of total debt are as follows at September 30, 2018 : ($ in thousands) 2018 $ 9,088 2019 — 2020 — 2021 — 2022 and thereafter 80,000 Total $ 89,088

Reportable Segment Information

Reportable Segment Information (Tables)	9 Months Ended
	Sep. 30, 2018
Segment Reporting [Abstract]
Reconciliation of segment information	A reconciliation from segment level financial information to the consolidated statement of operations is provided in the table below. Three Months Ended September 30, 2018 ($ in thousands) Pressure Pumping All Other Total Service revenue $ 421,436 $ 12,605 $ 434,041 Adjusted EBITDA $ 105,069 $ (1,701 ) $ 103,368 Depreciation and amortization $ 22,026 $ 1,191 $ 23,217 Goodwill $ 9,425 $ — $ 9,425 Capital expenditures $ 73,143 $ 1,060 $ 74,203 Total assets $ 903,653 $ 36,065 $ 939,718 Three Months Ended September 30, 2017 ($ in thousands) Pressure Pumping All Other Total Service revenue $ 271,924 $ 10,806 $ 282,730 Adjusted EBITDA $ 50,013 $ (2,245 ) $ 47,768 Depreciation and amortization $ 13,637 $ 1,108 $ 14,745 Goodwill $ 9,425 $ — $ 9,425 Capital expenditures $ 61,752 $ 765 $ 62,517 Total assets at December 31, 2017 $ 688,279 $ 30,753 $ 719,032 Nine Months Ended September 30, 2018 ($ in thousands) Pressure Pumping All Other Total Service revenue $ 1,242,286 $ 36,862 $ 1,279,148 Adjusted EBITDA $ 281,951 $ (5,871 ) $ 276,080 Depreciation and amortization $ 59,830 $ 3,598 $ 63,428 Goodwill $ 9,425 $ — $ 9,425 Capital expenditures $ 218,113 $ 6,586 $ 224,699 Total assets $ 903,653 $ 36,065 $ 939,718 Nine Months Ended September 30, 2017 ($ in thousands) Pressure Pumping All Other Total Service revenue $ 639,355 $ 28,798 $ 668,153 Adjusted EBITDA $ 98,296 $ (3,641 ) $ 94,655 Depreciation and amortization $ 35,228 $ 3,374 $ 38,602 Goodwill $ 9,425 $ — $ 9,425 Capital expenditures $ 203,097 $ 3,231 $ 206,328 Total assets at December 31, 2017 $ 688,279 $ 30,753 $ 719,032 Reconciliation of net income (loss) to adjusted EBITDA: Three Months Ended September 30, 2018 ($ in thousands) Pressure Pumping All Other Total Net income (loss) $ 66,493 $ (20,208 ) $ 46,285 Depreciation and amortization 22,026 1,191 23,217 Interest expense — 1,480 1,480 Income tax expense — 13,592 13,592 Loss on disposal of assets 16,117 290 16,407 Stock-based compensation — 1,631 1,631 Other expense — 93 93 Deferred IPO bonus expense 433 230 663 Adjusted EBITDA $ 105,069 $ (1,701 ) $ 103,368 Three Months Ended September 30, 2017 ($ in thousands) Pressure Pumping All Other Total Net income (loss) $ 28,372 $ (6,407 ) $ 21,965 Depreciation and amortization 13,637 1,108 14,745 Interest expense — 644 644 Income tax benefit — (96 ) (96 ) Loss on disposal of assets 7,552 1,190 8,742 Stock-based compensation — 751 751 Other expense — 191 191 Other general and administrative expense (1) — 149 149 Deferred IPO bonus expense 452 225 677 Adjusted EBITDA $ 50,013 $ (2,245 ) $ 47,768 (1) Other general and administrative expense relates to legal settlement expense. Nine Months Ended September 30, 2018 ($ in thousands) Pressure Pumping All Other Total Net income (loss) $ 176,952 $ (54,868 ) $ 122,084 Depreciation and amortization 59,830 3,598 63,428 Interest expense — 4,973 4,973 Income tax expense — 35,998 35,998 Loss/(gain) on disposal of assets 43,768 (707 ) 43,061 Stock-based compensation — 3,832 3,832 Other expense — 505 505 Other general and administrative expense (1) 2 18 20 Deferred IPO bonus expense 1,399 780 2,179 Adjusted EBITDA $ 281,951 $ (5,871 ) $ 276,080 Nine Months Ended September 30, 2017 ($ in thousands) Pressure Pumping All Other Total Net income (loss) $ 30,087 $ (27,552 ) $ 2,535 Depreciation and amortization 35,228 3,374 38,602 Interest expense — 6,469 6,469 Income tax expense — 128 128 Loss on disposal of assets 27,943 1,028 28,971 Stock-based compensation — 8,730 8,730 Other expense — 792 792 Other general and administrative expense (1) — 722 722 Deferred IPO bonus expense 5,038 2,668 7,706 Adjusted EBITDA $ 98,296 $ (3,641 ) $ 94,655 (1) Other general and administrative expense relates to legal settlement expense.

Net Income Per Share (Tables)

Net Income Per Share (Tables)	9 Months Ended
	Sep. 30, 2018
Earnings Per Share [Abstract]
Calculations of net income (loss) per share	The table below shows the calculations for the three and nine months ended September 30, 2018 and 2017 . Three Months Ended September 30, Nine Months Ended September 30, (In thousands, except for per share data) 2018 2017 2018 2017 Numerator (both basic and diluted) Net income relevant to common stockholders $ 46,285 $ 21,965 $ 122,084 $ 2,535 Denominator Denominator for basic income per share 83,544 83,040 83,359 74,124 Dilutive effect of stock options 3,039 2,808 3,355 2,822 Dilutive effect of performance stock units 225 37 218 — Dilutive effect of non-vested restricted stock 70 379 221 172 Denominator for diluted income per share 86,878 86,264 87,153 77,118 Basic income per common share $ 0.55 $ 0.26 $ 1.46 $ 0.03 Diluted income per common share $ 0.53 $ 0.25 $ 1.40 $ 0.03
Anti-dilutive shares excluded from diluted earnings (loss) per share calculation	As shown in the table below, the following stock options, performance stock units and non-vested restricted stocks have not been included in the calculation of diluted income per share as they will be anti-dilutive to the calculation above. (In thousands) Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Stock options — 789 — 789 Performance stock units — — — 170 Non-vested restricted stock — — — 318 Total — 789 — 1,277

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock options, activity	A summary of the stock option activity for the nine months ended September 30, 2018 is presented below. Number Weighted Outstanding at January 1, 2018 4,636,353 $ 5.20 Granted — $ — Exercised (3,625 ) $ 14.00 Forfeited (14,736 ) $ 14.00 Expired — $ — Canceled — $ — Outstanding at September 30, 2018 4,617,992 $ 5.17 Exercisable at September 30, 2018 4,040,320 $ 3.90
Schedule of RSUs, activity	The following table summarizes RSUs activity during the nine months ended September 30, 2018 : Number of Weighted Outstanding at January 1, 2018 688,744 $ 13.66 Granted 319,250 $ 18.49 Vested (500,360 ) $ 13.87 Forfeited (19,951 ) $ 15.49 Expired — $ — Canceled — $ — Outstanding at September 30, 2018 487,683 $ 16.53
Schedule of performance shares, activity	The following table summarizes information about the PSUs that were outstanding at September 30, 2018 : Period Target Shares Target Target Shares Vested Target Target Shares Weighted 2017 169,635 — — — 169,635 $ 10.73 2018 — 178,975 — — 178,975 $ 27.51 Total 169,635 178,975 — — 348,610 $ 19.34

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of future minimum rental payments for operating leases	Required remaining lease payments for each fiscal year are as follows: ($ in thousands) 2018 $ 254 2019 782 2020 721 2021 721 2022 and thereafter 2,978 Total $ 5,456

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details) $ / shares in Units, $ in Thousands	Mar. 22, 2017USD ($)$ / sharesshares	Sep. 30, 2018USD ($)$ / shares	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)$ / shares
Subsidiary, Sale of Stock [Line Items]
Contract with customer, asset, net		$ 23,300		$ 24,800
Common stock, par value (in dollars per share) | $ / shares		$ 0.001		$ 0.001
Proceeds from issuance of common stock		$ 0	$ 185,500
Repayment of outstanding borrowings	$ 71,800	61,858	164,638
Capital expenditures	$ 86,800	$ 212,152	$ 193,820
IPO
Subsidiary, Sale of Stock [Line Items]
Shares of common stock sold, including shares sold by third parties (in shares) | shares	25,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.001
Stock price (in dollars per share) | $ / shares	$ 14
Proceeds from issuance of common stock	$ 170,100
Payment of underwriting discounts and commissions	10,900
Payments of stock issuance costs, other	$ 4,500
IPO Sold By Company
Subsidiary, Sale of Stock [Line Items]
Shares of common stock sold, including shares sold by third parties (in shares) | shares	13,250,000
IPO - Shares From Existing Shareholders
Subsidiary, Sale of Stock [Line Items]
Shares of common stock sold, including shares sold by third parties (in shares) | shares	11,750,000
March 2017 Stock Split | IPO
Subsidiary, Sale of Stock [Line Items]
Stock split ratio	1.45
Performance stock units | IPO
Subsidiary, Sale of Stock [Line Items]
Number of shares of outstanding stock converted (in shares) | shares	16,999,990
Performance stock units | Series A Preferred Stock Converted To Common Stock | IPO
Subsidiary, Sale of Stock [Line Items]
Stock split ratio	1

Basis of Presentation - Account

Basis of Presentation - Accounts Receivable (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-10-01 $ in Millions	Sep. 30, 2018USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue, remaining performance obligation	$ 27.8
Expected timing of satisfaction, period	2 months

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2018
Fair Value Disclosures [Abstract]
Property and equipment impairment expense	$ 0	$ 0
Additions or disposals of Goodwill	$ 0	$ 0

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - ABL Facility - Revolving Credit Facility - Line of Credit	Feb. 22, 2018USD ($)	Mar. 22, 2017USD ($)	Feb. 21, 2018USD ($)
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 200,000,000	$ 150,000,000	$ 150,000,000
Line of credit facility, expiration period		5 years
Line of credit facility, borrowing base, accounts receivable percentage		85.00%
Line of credit, springing fixed charge coverage ratio	1
Line of credit facility, coverage ratio establishing threshold, option one, percentage of facility size and borrowing base	10.00%
Line of credit facility, coverage ratio establishing threshold, option two, amount	$ 15,000,000	$ 12,000,000
Line of credit facility, commitment fee, utilization percentage, threshold		50.00%
Minimum
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage		0.25%
Maximum
Debt Instrument [Line Items]
Line of credit facility, commitment fee percentage		0.375%
London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.75%
London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.25%
Base Rate | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.75%
Base Rate | Maximum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		1.25%

Long-Term Debt - Schedule of De

Long-Term Debt - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total debt	$ 89,088	$ 72,942
Less current portion of long-term debt	9,088	15,764
Total long-term debt	80,000	57,178
Equipment financing | Equipment financing
Debt Instrument [Line Items]
Total debt	9,088	17,942
Revolving Credit Facility | Line of Credit | ABL Facility
Debt Instrument [Line Items]
Total debt	$ 80,000	$ 55,000

Long-Term Debt - Maturities of

Long-Term Debt - Maturities of Long-term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
2,018	$ 9,088
2,019	0
2,020	0
2,021	0
2022 and thereafter	80,000
Total debt	$ 89,088	$ 72,942

Reportable Segment Informatio_2

Reportable Segment Information - Additional Information (Details) $ in Thousands	Aug. 31, 2018USD ($)	Sep. 30, 2018USD ($)segment	Sep. 30, 2017USD ($)
Segment Reporting [Abstract]
Number of operating segments		5
Loss on disposal | $	$ 300	$ 42,898	$ 28,971
Number of reportable segments		1

Reportable Segment Informatio_3

Reportable Segment Information - Reconciliation of segment information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Service revenue	$ 434,041	$ 282,730	$ 1,279,148	$ 668,153
Adjusted EBITDA	103,368	47,768	276,080	94,655
Depreciation and amortization	23,217	14,745	63,428	38,602
Goodwill	9,425	9,425	9,425	9,425	$ 9,425
Capital expenditures	74,203	62,517	224,699	206,328
Total assets	939,718		939,718		719,032
Pressure Pumping
Segment Reporting Information [Line Items]
Service revenue	421,436	271,924	1,242,286	639,355
Adjusted EBITDA	105,069	50,013	281,951	98,296
Depreciation and amortization	22,026	13,637	59,830	35,228
Goodwill	9,425	9,425	9,425	9,425
Capital expenditures	73,143	61,752	218,113	203,097
Total assets	903,653		903,653		688,279
All Other
Segment Reporting Information [Line Items]
Service revenue	12,605	10,806	36,862	28,798
Adjusted EBITDA	(1,701)	(2,245)	(5,871)	(3,641)
Depreciation and amortization	1,191	1,108	3,598	3,374
Goodwill	0	0	0	0
Capital expenditures	1,060	$ 765	6,586	$ 3,231
Total assets	$ 36,065		$ 36,065		$ 30,753

Reportable Segment Informatio_4

Reportable Segment Information - Reconciliation of segment information EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Segment Reporting Information [Line Items]
Net income (loss)	$ 46,285	$ 21,965	$ 122,084	$ 2,535
Depreciation and amortization	23,217	14,745	63,428	38,602
Interest expense	1,480	644	4,973	6,469
Income tax expense	13,592	(96)	35,998	128
Loss on disposal of assets	16,407	8,742	43,061	28,971
Stock-based compensation	1,631	751	3,832	8,730
Other expense	93	191	505	792
Other general and administrative expense		149	20	722
Deferred IPO bonus expense	663	677	2,179	7,706
Adjusted EBITDA	103,368	47,768	276,080	94,655
Pressure Pumping
Segment Reporting Information [Line Items]
Net income (loss)	66,493	28,372	176,952	30,087
Depreciation and amortization	22,026	13,637	59,830	35,228
Interest expense	0	0	0	0
Income tax expense	0	0	0	0
Loss on disposal of assets	16,117	7,552	43,768	27,943
Stock-based compensation	0	0	0	0
Other expense	0	0	0	0
Other general and administrative expense		0	2	0
Deferred IPO bonus expense	433	452	1,399	5,038
Adjusted EBITDA	105,069	50,013	281,951	98,296
All Other
Segment Reporting Information [Line Items]
Net income (loss)	(20,208)	(6,407)	(54,868)	(27,552)
Depreciation and amortization	1,191	1,108	3,598	3,374
Interest expense	1,480	644	4,973	6,469
Income tax expense	13,592	(96)	35,998	128
Loss on disposal of assets	290	1,190	(707)	1,028
Stock-based compensation	1,631	751	3,832	8,730
Other expense	93	191	505	792
Other general and administrative expense		149	18	722
Deferred IPO bonus expense	230	225	780	2,668
Adjusted EBITDA	$ (1,701)	$ (2,245)	$ (5,871)	$ (3,641)

Net Income Per Share - Calculat

Net Income Per Share - Calculation of net income per share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Numerator (both basic and diluted)
Net income relevant to common stockholders	$ 46,285	$ 21,965	$ 122,084	$ 2,535
Denominator
Denominator for basic earnings (loss) per share (in shares)	83,544	83,040	83,359	74,124
Denominator for diluted income (loss) per share (in shares)	86,878	86,264	87,153	77,118
Basic income (loss) per common share (in dollars per share)	$ 0.55	$ 0.26	$ 1.46	$ 0.03
Diluted income (loss) per common share (in dollars per share)	$ 0.53	$ 0.25	$ 1.40	$ 0.03
Stock options
Denominator
Dilutive effect of share based payment (in shares)	3,039	2,808	3,355	2,822
Performance stock units
Denominator
Dilutive effect of share based payment (in shares)	225	37	218	0
Non-vested restricted stock
Denominator
Dilutive effect of share based payment (in shares)	70	379	221	172

Net Income Per Share - Anti-dil

Net Income Per Share - Anti-dilutive Shares (Details) - shares shares in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	0	789	0	1,277
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	0	789	0	789
Performance stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	0	0	0	170
Non-vested restricted stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities (in shares)	0	0	0	318

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary Of Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2018$ / sharesshares
Number of Shares
Outstanding beginning balance (in shares) | shares	4,636,353
Granted (in shares) | shares	0
Exercised (in shares) | shares	(3,625)
Forfeited (in shares) | shares	(14,736)
Expired (in shares) | shares	0
Canceled (in shares) | shares	0
Outstanding ending balance (in shares) | shares	4,617,992
Exercisable ending balance (in shares) | shares	4,040,320
Weighted Average Exercise Price
Outstanding beginning balance (in dollars per share) | $ / shares	$ 5.20
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	14
Forfeited (in dollars per share) | $ / shares	14
Expired (in dollars per share) | $ / shares	0
Canceled (in dollars per share) | $ / shares	0
Outstanding ending balance (in dollars per share) | $ / shares	5.17
Exercisable ending balance (in dollars per share) | $ / shares	$ 3.90

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Jun. 05, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)			$ 0
Granted (in dollars per share)			$ 0	$ 3.35
Options, outstanding, intrinsic value	$ 52,300		$ 52,300
Options, exercisable, intrinsic value	$ 50,900		50,900
Options, exercised, intrinsic value			$ 20
Options, outstanding, weighted average remaining contractual term	6 years 1 month 13 days
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 9 months 26 days
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target Shares Granted (in shares)			178,975
Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit from compensation expense			$ 3,800	$ 8,700
Compensation not yet recognized, stock options	$ 13,200		13,200
Compensation cost not yet recognized, period for recognition	2 years 2 months 9 days
Incentive Award Plan | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation			500	2,800
Incentive Award Plan | Non-vested restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation			$ 2,000	$ 5,800
Target Shares Granted (in shares)			319,250
Restricted stock units, conversion of stock, conversion rights (in shares)					1
Compensation not yet recognized, stock options	$ 6,600		$ 6,600
Compensation cost not yet recognized, period for recognition			1 year 5 months 5 days
Incentive Award Plan | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation		$ 200	$ 1,300

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary Of RSU Activity (Details) - Non-vested restricted stock	9 Months Ended
	Sep. 30, 2018$ / sharesshares
Number of Shares
Outstanding at Beginning of Period (in shares) | shares	688,744
Vested (in shares) | shares	(500,360)
Forfeited (in shares) | shares	(19,951)
Expired (in shares) | shares	0
Canceled (in shares) | shares	0
Outstanding at End of Period (in shares) | shares	487,683
Weighted Average Grant Date Fair Value
Outstanding at Beginning of Period (in dollars per share)	$ 13.66
Granted (in dollars per share)	18.49
Vested (in dollars per share)	13.87
Forfeited (in dollars per share)	15.49
Expired (in dollars per share)	0
Canceled (in dollars per share)	0
Outstanding at End of Period (in dollars per share)	$ 16.53

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary Of Performance Shares Activity (Details) - Performance stock units	9 Months Ended
	Sep. 30, 2018$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at Beginning of Period (in shares)	169,635
Target Shares Granted (in shares)	178,975
Target Shares Vested (in shares)	0
Target Shares Forfeited (in shares)	0
Outstanding at End of Period (in shares)	348,610
Weighted Average Grant Date Fair Value per Share (in dollars per share) | $ / shares	$ 19.34
2,017
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at Beginning of Period (in shares)	169,635
Target Shares Granted (in shares)	0
Target Shares Vested (in shares)	0
Target Shares Forfeited (in shares)	0
Outstanding at End of Period (in shares)	169,635
Weighted Average Grant Date Fair Value per Share (in dollars per share) | $ / shares	$ 10.73
2,018
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at Beginning of Period (in shares)	0
Target Shares Granted (in shares)	178,975
Target Shares Vested (in shares)	0
Target Shares Forfeited (in shares)	0
Outstanding at End of Period (in shares)	178,975
Weighted Average Grant Date Fair Value per Share (in dollars per share) | $ / shares	$ 27.51

Related-Party Transactions (Det

Related-Party Transactions (Details)	9 Months Ended
	Sep. 30, 2018USD ($)property	Sep. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Related Party Transaction [Line Items]
Operating leases, year two	$ 782,000
Operating leases, year three	721,000
Operating leases, year four	721,000
Payable to related parties	0		$ 20,000
Receivable from related parties	$ 0		$ 0
Related party leasing
Related Party Transaction [Line Items]
Number of properties adjacent to corporate office subject to leases | property	5
Related party transportation services
Related Party Transaction [Line Items]
Expenses with related party	$ 300,000	$ 200,000
Related party equipment rental
Related Party Transaction [Line Items]
Expenses with related party	$ 100,000	$ 100,000
Corporate offices | Related party leasing
Related Party Transaction [Line Items]
Lease term	5 years
Extension option term	5 years
Operating leases	$ 100,000
Property 1 | Related party leasing
Related Party Transaction [Line Items]
Operating leases	30,000
Operating leases, year two	30,000
Operating leases, year three	100,000
Operating leases, year four	100,000
Operating leases, year five	$ 200,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Operating leases expense	$ 1	$ 1.2

Commitments and Contingencies_2

Commitments and Contingencies - Required Lease Payments (Details) $ in Thousands	Sep. 30, 2018USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,018	$ 254
2,019	782
2,020	721
2,021	721
2022 and thereafter	2,978
Total	$ 5,456