ProPetro Holding (PUMP) 10-Q 6 May 21 2021 Q1 Quarterly report Financial data

Cover page

Cover page - shares	3 Months Ended
	Mar. 31, 2021	May 03, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity File Number	001-38035
Entity Registrant Name	ProPetro Holding Corp.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	26-3685382
Entity Address, Address Line One	1706 South Midkiff,
Entity Address, City or Town	Midland
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	79701
City Area Code	432
Local Phone Number	688-0012
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		102,280,331
Entity Central Index Key	0001680247
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Common Stock
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.001 per share
Trading Symbol	PUMP
Security Exchange Name	NYSE
Preferred Stock Purchase Rights
Document Information [Line Items]
Title of 12(b) Security	Preferred Stock Purchase Rights
Security Exchange Name	NYSE
No Trading Symbol Flag	true

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 55,859	$ 68,772
Accounts receivable - net of allowance for credit losses of $0 and $1,497, respectively	110,386	84,244
Inventories	2,329	2,729
Prepaid expenses	7,853	11,199
Other current assets	14	782
Total current assets	176,441	167,726
PROPERTY AND EQUIPMENT - net of accumulated depreciation	866,050	880,477
OPERATING LEASE RIGHT-OF-USE ASSETS	636	709
OTHER NONCURRENT ASSETS:
Other noncurrent assets	1,656	1,827
Total other noncurrent assets	1,656	1,827
TOTAL ASSETS	1,044,783	1,050,739
CURRENT LIABILITIES:
Accounts payable	108,931	79,153
Operating lease liabilities	342	334
Accrued and other current liabilities	19,186	24,676
Total current liabilities	128,459	104,163
DEFERRED INCOME TAXES	68,677	75,340
NONCURRENT OPERATING LEASE LIABILITIES	378	465
Total liabilities	197,514	179,968
COMMITMENTS AND CONTINGENCIES (Note 10)
SHAREHOLDERS’ EQUITY:
Preferred stock, $0.001 par value, 30,000,000 shares authorized, none issued, respectively	0	0
Common stock, $0.001 par value, 200,000,000 shares authorized, 102,057,815 and 100,912,777 shares issued, respectively	102	101
Additional paid-in capital	831,987	835,115
Retained earnings	15,180	35,555
Total shareholders’ equity	847,269	870,771
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,044,783	$ 1,050,739

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 0	$ 1,497
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized (in shares)	30,000,000	30,000,000
Preferred stock, issued (in shares)	0	0
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)	102,057,815	100,912,777

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Statement [Abstract]
Revenue from Contract with Customer, Product and Service [Extensible List]	us-gaap:ServiceMember	us-gaap:ServiceMember
REVENUE - Service revenue	$ 161,458	$ 395,069
COSTS AND EXPENSES
Cost, Product and Service [Extensible List]	us-gaap:ServiceMember	us-gaap:ServiceMember
Cost of services (exclusive of depreciation and amortization)	$ 123,378	$ 300,848
General and administrative (inclusive of stock-based compensation)	20,201	24,937
Depreciation and amortization	33,478	40,205
Impairment expense	0	16,654
Loss on disposal of assets	13,052	19,854
Total costs and expenses	190,109	402,498
OPERATING LOSS	(28,651)	(7,429)
OTHER INCOME (EXPENSE):
Interest expense	(176)	(1,281)
Other income (expense)	1,789	(3)
Total other income (expense)	1,613	(1,284)
LOSS BEFORE INCOME TAXES	(27,038)	(8,713)
INCOME TAX BENEFIT	6,663	909
NET LOSS	$ (20,375)	$ (7,804)
NET LOSS PER COMMON SHARE:
Basic (in dollars per share)	$ (0.20)	$ (0.08)
Diluted (in dollars per share)	$ (0.20)	$ (0.08)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	101,550	100,687
Diluted (in shares)	101,550	100,687

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENT OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings
Balance (in shares) at Dec. 31, 2019		100,624
Balance at Dec. 31, 2019	$ 969,305	$ 101	$ 826,629	$ 142,575
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation cost	471		471
Issuance of equity awards, net (in shares)		154
Issuance of equity awards, net	0		0
Tax withholdings paid for net settlement of equity awards	(456)		(456)
Net income (loss)	(7,804)			(7,804)
Balance (in shares) at Mar. 31, 2020		100,778
Balance at Mar. 31, 2020	961,516	$ 101	826,644	134,771
Balance (in shares) at Dec. 31, 2020		100,913
Balance at Dec. 31, 2020	870,771	$ 101	835,115	35,555
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation cost	2,487		2,487
Issuance of equity awards, net (in shares)		1,145
Issuance of equity awards, net	0	$ 1	(1)
Tax withholdings paid for net settlement of equity awards	(5,614)		(5,614)
Net income (loss)	(20,375)			(20,375)
Balance (in shares) at Mar. 31, 2021		102,058
Balance at Mar. 31, 2021	$ 847,269	$ 102	$ 831,987	$ 15,180

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (20,375)	$ (7,804)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	33,478	40,205
Impairment expense	0	16,654
Deferred income tax benefit	(6,663)	(1,312)
Amortization of deferred debt issuance costs	134	135
Stock-based compensation	2,487	471
Provision for credit losses	0	4,291
Loss on disposal of assets	13,052	19,854
Changes in operating assets and liabilities:
Accounts receivable	(25,698)	(14,486)
Other current assets	325	1,138
Inventories	401	(860)
Prepaid expenses	3,383	2,920
Accounts payable	18,579	10,080
Accrued and other current liabilities	(2,095)	(9,431)
Accrued interest	0	(131)
Net cash provided by operating activities	17,008	61,724
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(22,494)	(47,290)
Proceeds from sale of assets	224	733
Net cash used in investing activities	(22,270)	(46,557)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of borrowings	0	(20,000)
Payment of finance lease obligation	0	(30)
Repayments of insurance financing	(2,037)	0
Tax withholdings paid for net settlement of equity awards	(5,614)	(456)
Net cash used in financing activities	(7,651)	(20,486)
NET DECREASE IN CASH AND CASH EQUIVALENTS	(12,913)	(5,319)
CASH AND CASH EQUIVALENTS - Beginning of period	68,772	149,036
CASH AND CASH EQUIVALENTS - End of period	$ 55,859	$ 143,717

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2021
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 (the "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, 2020 included in our Form 10-K filed with the SEC (our "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 our principal activities, aggregated into our one reportable segment—"Pressure Pumping" and "all other" category, 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. Our hydraulic fracturing contracts with our customers have one performance obligation, which is the contracted total stages, satisfied over time. We recognize revenue over time using a progress output, 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. In addition, certain of our hydraulic fracturing equipment is entitled to daily idle fee charges if a customer were to idle committed hydraulic fracturing equipment. The Company recognizes revenue related to idle fee charges on a daily basis as the performance obligations are met. Acidizing, which is part of our hydraulic fracturing operating segment, involves a well-stimulation technique where acid or similar chemicals are injected under pressure into formations to form or expand fissures. Our acidizing contracts have one performance obligation, satisfied at a point-in-time, upon completion of the contracted service or sale of the acid or chemical 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. Our cementing contracts have one performance obligation, 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 is fixed per our contracts with our customers. All Other — All other consists of coiled tubing operations, which are downhole well completion/remedial services. The performance obligation for these 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 March 31, 2021 and December 31, 2020, accrued revenue (unbilled receivable) included as part of our accounts receivable was $14.0 million and $8.6 million, respectively. At March 31, 2021, the transaction price allocated to the remaining performance obligation for our partially completed hydraulic fracturing operations was $16.2 million , which is expected to be completed and recognized within one month following the current period balance sheet date, in our pressure pumping reportable segment. Allowance for Credit Losses As of March 31, 2021, the Company had no allowance for credit losses. During the three months ended March 31, 2021 the Company fully wrote off certain receivables and the associated allowance for credit losses because it was reasonably certain that the receivables will not be recovered. Our allowance for credit losses is based on the evaluation of both our historic collection experience and the expected impact of currently deteriorating economic conditions for the oil and gas industry. We evaluated the historic loss experience on our accounts receivable and also considered separately customers with receivable balances that may be negatively impacted by current economic developments and market conditions. While the Company has not experienced significant credit losses in the past and has not yet seen material changes to the payment patterns of its customers, the Company cannot predict with any certainty the degree to which the impacts of the COVID-19 pandemic, including the potential impact of periodically adjusted borrowing base limits, level of hedged production, or unforeseen well shut-downs may affect the ability of its customers to timely pay receivables when due. Accordingly, in future periods, the Company may revise its estimates of expected credit losses. The table below shows a summary of allowance for credit losses during the three months ended March 31, 2021: ($ in thousands) Balance - January 1, 2021 $ 1,497 Provision for credit losses during the period — Write-off during the period (1,497) Balance - March 31, 2021 $ —

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards Recently Issued Accounting Standards Adopted in 2021 In December 2019, the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 in Generally Accepted Accounting Principles. ASU 2019-12 is effective for public entities for fiscal years beginning after December 15, 2020, with early adoption permitted. Effective January 1, 2021, we adopted this guidance and the adoption did not materially affect the Company’s condensed consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted in 2021 In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform , which provides temporary optional guidance to companies impacted by the transition away from the London Interbank Offered Rate (“LIBOR”). The guidance provides certain expedients and exceptions to applying GAAP in order to lessen the potential accounting burden when contracts, hedging relationships, and other transactions that reference LIBOR as a benchmark rate are modified. This guidance is effective upon issuance and expires on December 31, 2022. The Company is currently assessing the impact of the LIBOR transition and this ASU on the Company’s condensed consolidated financial statements and does not expect ASU 2020-04 to have a material effect on the Company’s condensed consolidated financial statements

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurement Fair value ("FV") 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, accounts payable, accrued and other current liabilities, and long-term debt. The estimated fair value of our financial instruments at March 31, 2021 and December 31, 2020 approximated or equaled their carrying values as reflected in our condensed consolidated balance sheets. Assets Measured at Fair Value on a Nonrecurring Basis There was no impairment of assets during the three months ended March 31, 2021. In the first quarter of 2020, the negative future near-term outlook resulting from the continued idling of our Permian drilling assets and current market prices were indicative of potential impairment, resulting in the Company comparing the carrying value of the Permian drilling assets with its estimated fair value. In the first quarter of 2020, we determined that the carrying value of the Permian drilling assets was greater than its estimated fair value, accordingly impairment expense of $1.1 million was recorded for our Permian drilling assets during the three months ended March 31, 2020. In 2019, the Company entered an agreement with its equipment manufacturer granting the Company the option to purchase an additional 108,000 hydraulic horsepower ("HHP") of DuraStim® equipment, with the purchase option expiring at different times throu gh July 31, 2022, as amended. The option fee of $6.1 million, classified as a deposit for property and equipment as part of our pressure pumping reportable segment, has been fully impaired and written off in the first quarter of 2020 because it was not probable that the Company will exercise the option to purchase the equipment given the current depressed crude oil prices and other market conditions that have resulted in a decline in the demand for our hydraulic fracturing services. The total non-cash property and equipment impairment charges recorded during the three months ended March 31, 2021 and 2020 in our hydraulic fracturing and drilling segments was $0 and $7.2 million, respectively.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Asset-Based Loan ("ABL") Credit Facility Our revolving credit facility (“ABL Credit Facility”), as amended, has a total borrowing capacity of $300 million (subject to the Borrowing Base limit), with a maturity date of December 19, 2023. The ABL Credit Facility has a borrowing base of 85% of monthly eligible accounts receivable less customary reserves (the "Borrowing Base"), as redetermined monthly. The Borrowing Base as of March 31, 2021 was approximately $61.5 million . The ABL Credit Facility includes a Springing Fixed Charge Coverage Ratio to apply when excess availability is less than the greater of (i) 10% of the lesser of the facility size or the Borrowing Base or (ii) $22.5 million. 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. Borrowings under the ABL Credit Facility are secured by a first priority lien and security interest in substantially all assets of the Company. 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 a LIBOR floor of zero. The loan origination costs relating to the ABL Credit Facility are classified as an asset in our balance sheet. There were no borrowings under the ABL Credit Facility as of March 31, 2021 and December 31, 2020.

Reportable Segment Information

Reportable Segment Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Reportable Segment Information	Reportable Segment Information The Company has three operating segments for which discrete financial information is readily available: hydraulic fracturing (inclusive of acidizing), cementing and coiled tubing. These operating segments represent how the Chief Operating Decision Maker evaluates performance and allocates resources. In accordance with the FASB Accounting Standards Codification (“ASC”) 280— Segment Reporting , the Company has one reportable segment (pressure pumping) comprised of the hydraulic fracturing and cementing operating segments. The coiled tubing operating segment and corporate administrative expense (inclusive of our total income tax expense (benefit) and interest expense) are included in the "all other" category in the table below. Total corporate administrative expense for the three months ended March 31, 2021 and 2020 was $5.0 million and $10.3 million, respectively. Our hydraulic fracturing operating segment revenue approximated 93.3% and 94.8% of our pressure pumping revenue during the three months ended March 31, 2021 and 2020, respectively. Inter-segment revenues are not material and are not shown separately in the table below. The Company manages and assesses the performance of the reportable segment by its adjusted EBITDA (earnings before other income (expense), interest expense, income taxes, depreciation and amortization, stock-based compensation expense, severance and related expense, impairment expense, (gain)/loss on disposal of assets and other unusual or nonrecurring expenses or (income)). A reconciliation from segment level financial information to the consolidated statement of operations is provided in the table below ($ in thousands): Three Months Ended March 31, 2021 Pressure Pumping All Other Total Service revenue $ 158,191 $ 3,267 $ 161,458 Adjusted EBITDA $ 31,870 $ (11,853) $ 20,017 Depreciation and amortization $ 32,513 $ 965 $ 33,478 Capital expenditures $ 30,023 $ 2,305 $ 32,328 Total assets at March 31, 2021 $ 1,005,365 $ 39,418 $ 1,044,783 Three Months Ended March 31, 2020 Pressure Pumping All Other Total Service revenue $ 386,919 $ 8,150 $ 395,069 Adjusted EBITDA $ 78,664 $ (3,741) $ 74,923 Depreciation and amortization $ 38,969 $ 1,236 $ 40,205 Capital expenditures $ 39,268 $ 828 $ 40,096 Total assets at December 31, 2020 $ 1,009,631 $ 41,108 $ 1,050,739 Reconciliation of net (loss) income to adjusted EBITDA ($ in thousands): Three Months Ended March 31, 2021 Pressure Pumping All Other Total Net loss $ (13,675) $ (6,700) $ (20,375) Depreciation and amortization 32,513 965 33,478 Interest expense — 176 176 Income tax benefit — (6,663) (6,663) Loss on disposal of assets 13,032 20 13,052 Stock-based compensation — 2,487 2,487 Other income — (1,789) (1,789) Other general and administrative expense, (net) (1) — (961) (961) Severance expense — 612 612 Adjusted EBITDA $ 31,870 $ (11,853) $ 20,017 Three Months Ended March 31, 2020 Pressure Pumping All Other Total Net income (loss) $ 4,308 $ (12,112) $ (7,804) Depreciation and amortization 38,969 1,236 40,205 Impairment expense 15,559 1,095 16,654 Interest expense 1 1,280 1,281 Income tax expense — (909) (909) Loss on disposal of assets 19,815 39 19,854 Stock-based compensation — 471 471 Other expense — 3 3 Other general and administrative expense (1) — 5,135 5,135 Retention bonus and severance expense 12 21 33 Adjusted EBITDA $ 78,664 $ (3,741) $ 74,923

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share Basic net loss per common share is computed by dividing the net loss relevant to the common stockholders by the weighted average number of common shares outstanding during the period. Diluted net loss per common share uses the same net loss 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 months ended March 31, 2021 and 2020, (in thousands, except for per share data): Three Months Ended March 31, 2021 2020 Numerator (both basic and diluted) Net loss relevant to common stockholders $ (20,375) $ (7,804) Denominator Denominator for basic loss per share 101,550 100,687 Dilutive effect of stock options — — Dilutive effect of performance share units — — Dilutive effect of restricted stock units — — Denominator for diluted loss per share 101,550 100,687 Basic loss per share $ (0.20) $ (0.08) Diluted loss per share $ (0.20) $ (0.08) As shown in the table below, the following stock options, restricted stock units and performance stock units outstanding as of March 31, 2021 and 2020, respectively, have not been included in the calculation of diluted loss per common share for the three months ended March 31, 2021 and 2020 because they will be anti-dilutive to the calculation of diluted net loss per common share: (In thousands) 2021 2020 Stock options 1,912 4,230 Restricted stock units 1,564 1,228 Performance stock units 1,480 1,051 Total 4,956 6,509

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Options There were no new stock option grants during the three months ended March 31, 2021. As of March 31, 2021, the aggregate intrinsic value for our outstanding stock options was $10.2 million, and the aggregate intrinsic value for our exercisable stock options was $10.2 million. The aggregate intrinsic value for the exercised stock options during the three months ended March 31, 2021 was approximately $11.7 million . The remaining exercise period for both the outstanding and exercisable stock options as of March 31, 2021 was 3.3 years. A summary of the stock option activity for the three months ended March 31, 2021 is presented below: Number of Shares Weighted Outstanding at January 1, 2021 4,200,341 $ 4.82 Granted — $ — Exercised (2,212,215) $ 3.33 Forfeited — $ 14.00 Expired (76,306) $ 14.00 Outstanding at March 31, 2021 1,911,820 $ 6.18 Exercisable at March 31, 2021 1,911,820 $ 6.18 Restricted Stock Units During the three months ended March 31, 2021, we granted a total of 700,865 restricted stock units ("RSUs") to employees, officers and directors pursuant to the ProPetro Holding Corp. 2020 Long Term Incentive Plan (the "2020 Incentive Plan"), which generally vest ratably over a three-year vesting period, in the case of awards to employees and officers, and generally vest in full after one year, in the case of awards to directors. RSUs are subject to restrictions on transfer and are generally subject to a risk of forfeiture if the award recipient ceases to be an employee or director of the Company prior to vesting of the award. Each RSU represents the right to receive one share of common stock. The grant date fair value of the RSUs is based on the closing share price of our common stock on the date of grant. As of March 31, 2021, the total unrecognized compensation expense for all RSUs was approximately $10.5 million, and is expected to be recognized over a weighted average period of approximately 2.4 years. The following table summarizes RSUs activity during the three months ended March 31, 2021: Number of Weighted Outstanding at January 1, 2021 1,165,369 $ 8.50 Granted 700,865 $ 9.77 Vested (301,830) $ 9.74 Forfeited — $ — Canceled — $ — Outstanding at March 31, 2021 1,564,404 $ 8.83 Performance Share Units During the three months ended March 31, 2021, we granted 544,699 performance share units ("PSUs") to certain key employees and officers as new awards under the 2020 Incentive Plan. The actual number of shares of common stock that may be issued under the PSUs ranges from 0% up to a maximum of 200% of the target number of PSUs granted to the participant, based on our total shareholder return ("TSR") relative to a designated peer group, generally at the end of a three year period. In addition to the TSR conditions, vesting of the PSUs is generally subject to the recipient’s continued employment through the end of the applicable performance period. Compensation expense is recorded ratably over the corresponding requisite service period. The grant date 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. The following table summarizes information about PSUs activity during the three months ended March 31, 2021: Period Target Shares Outstanding at January 1, 2021 Target Target Shares Vested Target Target Shares Outstanding at March 31, 2021 Weighted 2017 — — — — — $ 10.73 2018 84,322 — (84,322) — — $ 27.51 2019 126,318 — — — 126,318 $ 27.49 2020 808,638 — — — 808,638 $ 8.30 2021 — 544,699 — — 544,699 $ 15.35 Total 1,019,278 544,699 (84,322) — 1,479,655 $ 12.53 Weighted Average FV Per Share $ 12.27 $ 15.35 $ 27.51 $ — $ 12.53 The total stock-based compensation expense for the three months ended March 31, 2021 and 2020 for all stock awards was $2.5 million and $0.5 million, respectively. The total unrecognized stock-based compensation expense as of March 31, 2021 was approximately $22.9 million, and is expected to be recognized over a weighted average period of approximately

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions Corporate Office Building Prior to April 2020, the Company rented its corporate office building and the associated real property from an entity, in which a former executive officer of the Company has an equity interest for approximately $0.1 million per year. In April 2020, the Company acquired the corporate office building and the associated real property for approximately $1.5 million. Operations and Maintenance Yards The Company also leases five yards from an entity, in which certain former executive officers and a director of the Company have equity interests and the total annual rent expense for each of the five yards was approximately $0.03 million, $0.03 million, $0.1 million, $0.1 million, and $0.2 million, respectively. The Company also leased its drilling yard from another entity, in which a certain former executive officer of the Company has an equity interest, for an annual lease expense of approximately $0.1 million. In November 2020, we terminated the drilling yard lease. Equipment Rental and Other Services The Company obtains equipment maintenance services from an entity that has a family relationship with an executive officer of the Company. During the three months ended March 31, 2021 and 2020, the Company incurred approximately $0 and $0.3 million, respectively, for equipment maintenance services associated with this related party. At March 31, 2021 and December 31, 2020, the Company had no outstanding payables or receivables to or from the above related party transactions. Pioneer On December 31, 2018, we consummated the purchase of certain pressure pumping assets and real property from Pioneer Natural Resources USA, Inc. (“Pioneer”) and Pioneer Pumping Services (the "Pioneer Pressure Pumping Acquisition"). In connection with the Pioneer Pressure Pumping Acquisition, Pioneer received 16.6 million shares of our common stock and approximately $110.0 million in cash. Revenue from services provided to Pioneer (including idle fees) accounted for approximatel y $86.3 million and $127.4 million of our total revenue during the three months ended March 31, 2021 and 2020, respectively. In connection with the Pioneer Pressure Pumping Acquisition, the Company agreed to reimburse Pioneer for the Company's portion of the retention bonuses paid to former Pioneer employees that were subsequently employed by the Company. During the three months ended March 31, 2021 and 2020, the Company fully reimbursed Pioneer approximately $0 and $2.6 million, respectively. As of March 31, 2021, the total accounts receivable due from Pioneer, including estimated unbilled receivable for services (including idle fees) we provided, amounted to approximate ly $61.2 million

Leases

Leases	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Leases	Leases Operating Leases Description of Lease In March 2013, we entered into a ten $0.1 million and $0.1 million, respectively. The assets and liabilities under this contract are equally allocated between our cementing and coiled tubing segments. In addition to the contractual lease period, the contract includes an optional renewal of up to ten years, and in management's judgment the exercise of the renewal option is not reasonably assured. The contract does not include a residual value guarantee, covenants or financial restrictions. Further, the Real Estate Lease does not contain variability in payments resulting from either an index change or rate change. Effective January 1, 2019, the remaining lease term in our present value estimate of the minimum future lease payments was four years. Consistent with the requirements of the new lease standard, ASC 842, we have determined the Real Estate Lease to be an operating lease. Our assumptions resulted from the existence of the right to control the use of the assets throughout the lease term. We did not account for the land separately from the building of the real estate lease because we concluded that the accounting effect was insignificant. As of March 31, 2021, the weighted average discount rate and remaining lease term was 6.7% and 2.0 years , respectively. As of March 31, 2021, our total operating lease right-of-use asset cost was approximately $1.2 million , and accumulated amortization was approximately $0.6 million . For the three months ended March 31, 2021 and 2020, we recorded operating lease cost of approximately $0.1 million and $0.1 million, respectively, in our statement of operations. Finance Leases Description of Ground Lease In 2018, we entered into a ten Maturity Analysis of Lease Liabilities The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our operating lease as of March 31, 2021 are as follows: ($ in thousands) 2021 $ 285 2022 389 2023 98 2024 — Total undiscounted future lease payments $ 772 Less: amount representing interest (52) Present value of future lease payments (lease obligation) $ 720 The total cash paid for amounts included in the measurement of our operating lease liability during the three months ended March 31, 2021 was approximately $0.1 million . During the three months ended March 31, 2020, total cash paid for amounts included in the measurement of our operating and finance lease liabilities was approximately $0.1 million and $0.03 million, respectively. Short-Term Leases We elected the practical expedient, consistent with ASC 842, to exclude leases with an initial term of twelve months or less ("short-term leases") from our balance sheet and continue to record short-term leases as a period expense. For the three months ended March 31, 2021 and 2020 our short-term lease expense was approximately $0.2 million a nd $0.3 million, respectively.
Leases	Leases Operating Leases Description of Lease In March 2013, we entered into a ten $0.1 million and $0.1 million, respectively. The assets and liabilities under this contract are equally allocated between our cementing and coiled tubing segments. In addition to the contractual lease period, the contract includes an optional renewal of up to ten years, and in management's judgment the exercise of the renewal option is not reasonably assured. The contract does not include a residual value guarantee, covenants or financial restrictions. Further, the Real Estate Lease does not contain variability in payments resulting from either an index change or rate change. Effective January 1, 2019, the remaining lease term in our present value estimate of the minimum future lease payments was four years. Consistent with the requirements of the new lease standard, ASC 842, we have determined the Real Estate Lease to be an operating lease. Our assumptions resulted from the existence of the right to control the use of the assets throughout the lease term. We did not account for the land separately from the building of the real estate lease because we concluded that the accounting effect was insignificant. As of March 31, 2021, the weighted average discount rate and remaining lease term was 6.7% and 2.0 years , respectively. As of March 31, 2021, our total operating lease right-of-use asset cost was approximately $1.2 million , and accumulated amortization was approximately $0.6 million . For the three months ended March 31, 2021 and 2020, we recorded operating lease cost of approximately $0.1 million and $0.1 million, respectively, in our statement of operations. Finance Leases Description of Ground Lease In 2018, we entered into a ten Maturity Analysis of Lease Liabilities The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our operating lease as of March 31, 2021 are as follows: ($ in thousands) 2021 $ 285 2022 389 2023 98 2024 — Total undiscounted future lease payments $ 772 Less: amount representing interest (52) Present value of future lease payments (lease obligation) $ 720 The total cash paid for amounts included in the measurement of our operating lease liability during the three months ended March 31, 2021 was approximately $0.1 million . During the three months ended March 31, 2020, total cash paid for amounts included in the measurement of our operating and finance lease liabilities was approximately $0.1 million and $0.03 million, respectively. Short-Term Leases We elected the practical expedient, consistent with ASC 842, to exclude leases with an initial term of twelve months or less ("short-term leases") from our balance sheet and continue to record short-term leases as a period expense. For the three months ended March 31, 2021 and 2020 our short-term lease expense was approximately $0.2 million a nd $0.3 million, respectively.
Leases	Leases Operating Leases Description of Lease In March 2013, we entered into a ten $0.1 million and $0.1 million, respectively. The assets and liabilities under this contract are equally allocated between our cementing and coiled tubing segments. In addition to the contractual lease period, the contract includes an optional renewal of up to ten years, and in management's judgment the exercise of the renewal option is not reasonably assured. The contract does not include a residual value guarantee, covenants or financial restrictions. Further, the Real Estate Lease does not contain variability in payments resulting from either an index change or rate change. Effective January 1, 2019, the remaining lease term in our present value estimate of the minimum future lease payments was four years. Consistent with the requirements of the new lease standard, ASC 842, we have determined the Real Estate Lease to be an operating lease. Our assumptions resulted from the existence of the right to control the use of the assets throughout the lease term. We did not account for the land separately from the building of the real estate lease because we concluded that the accounting effect was insignificant. As of March 31, 2021, the weighted average discount rate and remaining lease term was 6.7% and 2.0 years , respectively. As of March 31, 2021, our total operating lease right-of-use asset cost was approximately $1.2 million , and accumulated amortization was approximately $0.6 million . For the three months ended March 31, 2021 and 2020, we recorded operating lease cost of approximately $0.1 million and $0.1 million, respectively, in our statement of operations. Finance Leases Description of Ground Lease In 2018, we entered into a ten Maturity Analysis of Lease Liabilities The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our operating lease as of March 31, 2021 are as follows: ($ in thousands) 2021 $ 285 2022 389 2023 98 2024 — Total undiscounted future lease payments $ 772 Less: amount representing interest (52) Present value of future lease payments (lease obligation) $ 720 The total cash paid for amounts included in the measurement of our operating lease liability during the three months ended March 31, 2021 was approximately $0.1 million . During the three months ended March 31, 2020, total cash paid for amounts included in the measurement of our operating and finance lease liabilities was approximately $0.1 million and $0.03 million, respectively. Short-Term Leases We elected the practical expedient, consistent with ASC 842, to exclude leases with an initial term of twelve months or less ("short-term leases") from our balance sheet and continue to record short-term leases as a period expense. For the three months ended March 31, 2021 and 2020 our short-term lease expense was approximately $0.2 million a nd $0.3 million, respectively.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments As of March 31, 2021, the total outstanding contractual commitments entered into as part of normal course of business for supply of certain equipment and other assets was approximatel y $3.0 million. At March 31, 2021, the total remaining commitments, in connection with the lodging arrangement for our crews was approximately $5.5 million . The Company enters into purchase agreements with its sand suppliers (the "Sand suppliers") to secure supply of sand as part of its normal course of business. The agreements with the Sand suppliers require that the Company purchase a minimum volume of sand, based primarily on a certain percentage of our sand requirements from our customers or in certain situations based on predetermined fixed minimum volumes, otherwise certain penalties (shortfall fees) may be charged. The shortfall fee represents liquidated damages and is based on a fixed price per ton of unpurchased volumes. Our agreements with the Sand suppliers expire at different times prior to December 31, 2025. Durin g the three months ended March 31, 2021 and 2020, no shortfall fee was recorded. One of the Sand suppliers (“SandCo”) we entered into an agreement with to purchase sand (“Texas sand”) has an indirect relationship with a former executive officer of the Company, because beginning in 2018, the Texas sand was sourced from a mine located on land owned by an entity in which the former executive officer of the Company has a 44% noncontrolling equity interest. The total sand purchased from SandCo during the three months ended March 31, 2020 (the period the former executive was associated with the Company) was approximately $5.3 million. As of March 31, 2021, the Company had issued letters of credit of approximately $3.7 million under the ABL Credit Facility in connection with the Company’s casualty insurance policy. Contingent Liabilities In September 2019, a complaint, captioned Richard Logan, Individually and On Behalf of All Others Similarly Situated, Plaintiff, v. ProPetro Holding Corp., et al., (the “Logan Lawsuit”), was filed against the Company and certain of its then current and former officers and directors in the U.S. District Court for the Western District of Texas. In July 2020, the Logan Lawsuit Lead Plaintiffs Nykredit Portefølje Administration A/S, Oklahoma Firefighters Pension and Retirement System, Oklahoma Law Enforcement Retirement System, Oklahoma Police Pension and Retirement System, and Oklahoma City Employee Retirement System, and additional named plaintiff Police and Fire Retirement System of the City of Detroit, individually and on behalf of a putative class of shareholders who purchased the Company’s common stock between March 17, 2017 and March 13, 2020, filed a third amended class action complaint in the U.S. District Court for the Western District of Texas, alleging violations of Sections 10(b) and 20(a) of the Exchange Act, as amended, and Rule l0b-5 promulgated thereunder, and Sections 11 and 15 of the Securities Act of 1933, as amended, based on allegedly inaccurate or misleading statements, or omissions of material facts, about the Company’s business, operations and prospects against the Company, certain former officers and current and former directors. In August 2020, the Company filed a motion to dismiss the Logan Lawsuit and in September 2020, the plaintiffs filed their opposition. In October 2020, the Company filed its reply brief in support of the motion to dismiss. In May 2020, the U.S. District Court for the Western District of Texas consolidated two shareholder derivative lawsuits previously filed against the Company and certain of its current and former officers and directors into a single lawsuit captioned In re ProPetro Holding Corp. Derivative Litigation (the “Shareholder Derivative Lawsuit”). In August 2020, the plaintiffs in the Shareholder Derivative Lawsuit filed a consolidated complaint alleging (i) breaches of fiduciary duties, (ii) unjust enrichment and (iii) contribution. The plaintiffs did not quantify any alleged damages in their complaint but, in addition to attorneys’ fees and costs, they seek various forms of relief, including (i) damages sustained by the Company as a result of the alleged misconduct, (ii) punitive damages and (iii) equitable relief in the form of improvements to the Company’s governance and controls. In October 2020, the Company and other defendants filed motions to dismiss the Shareholder Derivative Lawsuit and in December 2020, the plaintiffs filed their opposition. In January 2021, the Company and other defendants filed reply briefs in support of the motions to dismiss. In October 2019, the Company received a letter from the SEC indicating that the SEC had opened an investigation into the Company, which followed the SEC’s issuance of a formal order of investigation, and requesting that the Company provide certain information and documents, including documents related to the Company's expanded audit committee review and related events. The Company has cooperated and expects to continue to cooperate with the SEC's investigation. We are presently unable to predict the duration, scope or result of the Logan Lawsuit, the Shareholder Derivative Lawsuit, the SEC investigation, or any other related lawsuit or investigation. As of March 31, 2021, no provision was made by the Company in connection with these pending lawsuits and the SEC investigation as the final outcome cannot be reasonably estimated. Environmental The Company is subject to various federal, state and local environmental laws and regulations that establish standards and requirements for protection of the environment. The Company cannot predict the future impact of such standards and requirements, which are subject to change and can have retroactive effectiveness. The Company continues to monitor the status of these laws and regulations. Currently, the Company has not been fined, cited or notified of any environmental violations that would have a material adverse effect upon its financial position, liquidity or capital resources. However, management does recognize that by the very nature of the Company's business, material costs could be incurred in the near term to maintain compliance. The amount of such future expenditures is not determinable due to several factors, including the unknown magnitude of possible regulation or liabilities, the unknown timing and extent of the corrective actions which may be required, the determination of the Company's liability in proportion to other responsible parties and the extent to which such expenditures are recoverable from insurance or indemnification. Regulatory Audits In 2020, the Texas Comptroller of Public Accounts commenced a routine audit of the Company's motor vehicle and other related fuel taxes for the periods of July 2015 through December 2020. As of December 31, 2020, the audit is still at an early stage and the final outcome cannot be reasonably estimated. In 2021, the Texas Comptroller of Public Accounts completed a routine audit of gross receipts, and sales, excise and use taxes for the periods of July 2015 through December 2018. The net refund to the Company from the sales and excise and use tax audit was approximately $2.1 million, which was recorded as part of other income in our statement of operations during the three months ended March 31, 2021.

Basis of Presentation - (Polici

Basis of Presentation - (Policies)	3 Months Ended
	Mar. 31, 2021
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 (the "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, 2020 included in our Form 10-K filed with the SEC (our "Form 10-K").
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 our principal activities, aggregated into our one reportable segment—"Pressure Pumping" and "all other" category, 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. Our hydraulic fracturing contracts with our customers have one performance obligation, which is the contracted total stages, satisfied over time. We recognize revenue over time using a progress output, 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. In addition, certain of our hydraulic fracturing equipment is entitled to daily idle fee charges if a customer were to idle committed hydraulic fracturing equipment. The Company recognizes revenue related to idle fee charges on a daily basis as the performance obligations are met. Acidizing, which is part of our hydraulic fracturing operating segment, involves a well-stimulation technique where acid or similar chemicals are injected under pressure into formations to form or expand fissures. Our acidizing contracts have one performance obligation, satisfied at a point-in-time, upon completion of the contracted service or sale of the acid or chemical 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. Our cementing contracts have one performance obligation, 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 is fixed per our contracts with our customers. All Other — All other consists of coiled tubing operations, which are downhole well completion/remedial services. The performance obligation for these 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.
Allowance for Credit Losses	Allowance for Credit Losses As of March 31, 2021, the Company had no
Recently Issued Accounting Standards	Recently Issued Accounting Standards Adopted in 2021 In December 2019, the Financial Accounting Standards Board (“FASB”) Accounting Standards Update (“ASU”) issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 in Generally Accepted Accounting Principles. ASU 2019-12 is effective for public entities for fiscal years beginning after December 15, 2020, with early adoption permitted. Effective January 1, 2021, we adopted this guidance and the adoption did not materially affect the Company’s condensed consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted in 2021 In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform , which provides temporary optional guidance to companies impacted by the transition away from the London Interbank Offered Rate (“LIBOR”). The guidance provides certain expedients and exceptions to applying GAAP in order to lessen the potential accounting burden when contracts, hedging relationships, and other transactions that reference LIBOR as a benchmark rate are modified. This guidance is effective upon issuance and expires on December 31, 2022. The Company is currently assessing the impact of the LIBOR transition and this ASU on the Company’s condensed consolidated financial statements and does not expect ASU 2020-04 to have a material effect on the Company’s condensed consolidated financial statements
Fair Value Measurement	Fair Value Measurement Fair value ("FV") 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, accounts payable, accrued and other current liabilities, and long-term debt. The estimated fair value of our financial instruments at March 31, 2021 and December 31, 2020 approximated or equaled their carrying values as reflected in our condensed consolidated balance sheets.

Basis of Presentation - (Tables

Basis of Presentation - (Tables)	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Allowance for Credit Losses	The table below shows a summary of allowance for credit losses during the three months ended March 31, 2021: ($ in thousands) Balance - January 1, 2021 $ 1,497 Provision for credit losses during the period — Write-off during the period (1,497) Balance - March 31, 2021 $ —

Reportable Segment Information

Reportable Segment Information - (Tables)	3 Months Ended
	Mar. 31, 2021
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 ($ in thousands): Three Months Ended March 31, 2021 Pressure Pumping All Other Total Service revenue $ 158,191 $ 3,267 $ 161,458 Adjusted EBITDA $ 31,870 $ (11,853) $ 20,017 Depreciation and amortization $ 32,513 $ 965 $ 33,478 Capital expenditures $ 30,023 $ 2,305 $ 32,328 Total assets at March 31, 2021 $ 1,005,365 $ 39,418 $ 1,044,783 Three Months Ended March 31, 2020 Pressure Pumping All Other Total Service revenue $ 386,919 $ 8,150 $ 395,069 Adjusted EBITDA $ 78,664 $ (3,741) $ 74,923 Depreciation and amortization $ 38,969 $ 1,236 $ 40,205 Capital expenditures $ 39,268 $ 828 $ 40,096 Total assets at December 31, 2020 $ 1,009,631 $ 41,108 $ 1,050,739 Reconciliation of net (loss) income to adjusted EBITDA ($ in thousands): Three Months Ended March 31, 2021 Pressure Pumping All Other Total Net loss $ (13,675) $ (6,700) $ (20,375) Depreciation and amortization 32,513 965 33,478 Interest expense — 176 176 Income tax benefit — (6,663) (6,663) Loss on disposal of assets 13,032 20 13,052 Stock-based compensation — 2,487 2,487 Other income — (1,789) (1,789) Other general and administrative expense, (net) (1) — (961) (961) Severance expense — 612 612 Adjusted EBITDA $ 31,870 $ (11,853) $ 20,017 Three Months Ended March 31, 2020 Pressure Pumping All Other Total Net income (loss) $ 4,308 $ (12,112) $ (7,804) Depreciation and amortization 38,969 1,236 40,205 Impairment expense 15,559 1,095 16,654 Interest expense 1 1,280 1,281 Income tax expense — (909) (909) Loss on disposal of assets 19,815 39 19,854 Stock-based compensation — 471 471 Other expense — 3 3 Other general and administrative expense (1) — 5,135 5,135 Retention bonus and severance expense 12 21 33 Adjusted EBITDA $ 78,664 $ (3,741) $ 74,923

Net Loss Per Share - (Tables)

Net Loss Per Share - (Tables)	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Calculations of Net Income (Loss) Per Share	The table below shows the calculations for the three months ended March 31, 2021 and 2020, (in thousands, except for per share data): Three Months Ended March 31, 2021 2020 Numerator (both basic and diluted) Net loss relevant to common stockholders $ (20,375) $ (7,804) Denominator Denominator for basic loss per share 101,550 100,687 Dilutive effect of stock options — — Dilutive effect of performance share units — — Dilutive effect of restricted stock units — — Denominator for diluted loss per share 101,550 100,687 Basic loss per share $ (0.20) $ (0.08) Diluted loss per share $ (0.20) $ (0.08)
Schedule of Antidilutive Securities	As shown in the table below, the following stock options, restricted stock units and performance stock units outstanding as of March 31, 2021 and 2020, respectively, have not been included in the calculation of diluted loss per common share for the three months ended March 31, 2021 and 2020 because they will be anti-dilutive to the calculation of diluted net loss per common share: (In thousands) 2021 2020 Stock options 1,912 4,230 Restricted stock units 1,564 1,228 Performance stock units 1,480 1,051 Total 4,956 6,509

Stock-Based Compensation - (Tab

Stock-Based Compensation - (Tables)	3 Months Ended
	Mar. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock Options, Activity	A summary of the stock option activity for the three months ended March 31, 2021 is presented below: Number of Shares Weighted Outstanding at January 1, 2021 4,200,341 $ 4.82 Granted — $ — Exercised (2,212,215) $ 3.33 Forfeited — $ 14.00 Expired (76,306) $ 14.00 Outstanding at March 31, 2021 1,911,820 $ 6.18 Exercisable at March 31, 2021 1,911,820 $ 6.18
Schedule of RSUs, Activity	The following table summarizes RSUs activity during the three months ended March 31, 2021: Number of Weighted Outstanding at January 1, 2021 1,165,369 $ 8.50 Granted 700,865 $ 9.77 Vested (301,830) $ 9.74 Forfeited — $ — Canceled — $ — Outstanding at March 31, 2021 1,564,404 $ 8.83
Schedule of Performance Shares, Activity	The following table summarizes information about PSUs activity during the three months ended March 31, 2021: Period Target Shares Outstanding at January 1, 2021 Target Target Shares Vested Target Target Shares Outstanding at March 31, 2021 Weighted 2017 — — — — — $ 10.73 2018 84,322 — (84,322) — — $ 27.51 2019 126,318 — — — 126,318 $ 27.49 2020 808,638 — — — 808,638 $ 8.30 2021 — 544,699 — — 544,699 $ 15.35 Total 1,019,278 544,699 (84,322) — 1,479,655 $ 12.53 Weighted Average FV Per Share $ 12.27 $ 15.35 $ 27.51 $ — $ 12.53

Leases - (Tables)

Leases - (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Operating Lease Maturity	The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our operating lease as of March 31, 2021 are as follows: ($ in thousands) 2021 $ 285 2022 389 2023 98 2024 — Total undiscounted future lease payments $ 772 Less: amount representing interest (52) Present value of future lease payments (lease obligation) $ 720

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments | segment	1
Contract with customer, asset, net	$ 14,000,000	$ 8,600,000
Allowance for credit losses during the period	$ 0	$ 1,497,000

Basis of Presentation - Account

Basis of Presentation - Accounts Receivable (Details) - Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01 $ in Millions	Mar. 31, 2021USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Revenue, remaining performance obligation	$ 16.2
Revenue, remaining performance obligation, period	1 month

Basis of Presentation - Allowan

Basis of Presentation - Allowance for Credit Losses (Details)	3 Months Ended
	Mar. 31, 2021USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 1,497,000
Provision for credit losses during the period	0
Write-off during the period	(1,497,000)
Ending balance	$ 0

Fair Value Measurement - Additi

Fair Value Measurement - Additional Information (Details)	3 Months Ended
	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Dec. 31, 2019USD ($)hp
Property, Plant and Equipment [Line Items]
Impairment expense	$ 0
Deposit on property and equipment			$ 6,100,000
Goodwill, period increase (decrease)	0
Permian drilling assets
Property, Plant and Equipment [Line Items]
Impairment expense		$ 1,100,000
Hydraulic fracturing and drilling segments
Property, Plant and Equipment [Line Items]
Impairment of property and equipment	$ 0	7,200,000
Pumping reportable segment
Property, Plant and Equipment [Line Items]
Goodwill, impairment loss		$ 9,400,000
DuraStim
Property, Plant and Equipment [Line Items]
Purchase options, property and equipment | hp			108,000

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 300,000,000
Coverage ratio establishing threshold, option one, percentage of facility size and borrowing base	10.00%
Coverage ratio establishing threshold, option two, amount	$ 22,500,000
ABL Facility | Line of Credit
Debt Instrument [Line Items]
Current borrowings	$ 0	$ 0
ABL Facility | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Borrowing base, accounts receivable percentage	85.00%
Borrowing base	$ 61,500,000
LIBOR Loans | ABL Facility
Debt Instrument [Line Items]
Basis spread on variable rate, floor	0.00%
LIBOR Loans | Minimum | ABL Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
LIBOR Loans | Maximum | ABL Facility
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Base Rate Loans | Minimum | ABL Facility
Debt Instrument [Line Items]
Basis spread on variable rate	0.75%
Base Rate Loans | Maximum | ABL Facility
Debt Instrument [Line Items]
Basis spread on variable rate	1.25%

Reportable Segment Informatio_2

Reportable Segment Information - Additional Information (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)
Revenue, Major Customer [Line Items]
Number of operating segments	3
Number of reportable segments	1
Administrative fees expense | $	$ 5	$ 10.3
Pressure pumping
Revenue, Major Customer [Line Items]
Concentration risk (as a percent)	93.30%	94.80%

Reportable Segment Informatio_3

Reportable Segment Information - Reconciliation of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Service revenue	$ 161,458	$ 395,069
Adjusted EBITDA	20,017	74,923
Depreciation and amortization	33,478	40,205
Capital expenditures	32,328	40,096
Total assets	1,044,783	1,050,739	$ 1,050,739
Pressure Pumping
Segment Reporting Information [Line Items]
Service revenue	158,191	386,919
Adjusted EBITDA	31,870	78,664
Depreciation and amortization	32,513	38,969
Capital expenditures	30,023	39,268
Total assets	1,005,365	1,009,631
All Other
Segment Reporting Information [Line Items]
Service revenue	3,267	8,150
Adjusted EBITDA	(11,853)	(3,741)
Depreciation and amortization	965	1,236
Capital expenditures	2,305	828
Total assets	$ 39,418	$ 41,108

Reportable Segment Informatio_4

Reportable Segment Information - Reconciliation of Segment Information EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Segment Reporting Information [Line Items]
Net income (loss)	$ (20,375)	$ (7,804)
Depreciation and amortization	33,478	40,205
Impairment expense	0	16,654
Interest expense	176	1,281
Income tax benefit	(6,663)	(909)
Loss on disposal of assets	13,052	19,854
Stock-based compensation	2,487	471
Other income	(1,789)
Other general and administrative expense, net of recoveries	(961)
Other expense		3
Other general and administrative expense		5,135
Retention bonus and severance expense	612	33
Adjusted EBITDA	20,017	74,923
Pressure Pumping
Segment Reporting Information [Line Items]
Net income (loss)	(13,675)	4,308
Depreciation and amortization	32,513	38,969
Impairment expense		15,559
Interest expense	0	1
Income tax benefit	0	0
Loss on disposal of assets	13,032	19,815
Stock-based compensation	0	0
Other income	0
Other general and administrative expense, net of recoveries	0
Other expense		0
Other general and administrative expense		0
Retention bonus and severance expense	0	12
Adjusted EBITDA	31,870	78,664
All Other
Segment Reporting Information [Line Items]
Net income (loss)	(6,700)	(12,112)
Depreciation and amortization	965	1,236
Impairment expense		1,095
Interest expense	176	1,280
Income tax benefit	(6,663)	(909)
Loss on disposal of assets	20	39
Stock-based compensation	2,487	471
Other income	(1,789)
Other general and administrative expense, net of recoveries	(961)
Other expense		3
Other general and administrative expense		5,135
Retention bonus and severance expense	612	21
Adjusted EBITDA	$ (11,853)	$ (3,741)

Net Loss Per Share - (Details)

Net Loss Per Share - (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator (both basic and diluted)
Net loss relevant to common stockholders	$ (20,375)	$ (7,804)
Denominator
Denominator for basic earnings (loss) per share (in shares)	101,550	100,687
Denominator for diluted income (loss) per share (in shares)	101,550	100,687
Basic income (loss) per common share (in dollars per share)	$ (0.20)	$ (0.08)
Diluted income (loss) per common share (in dollars per share)	$ (0.20)	$ (0.08)
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	4,956	6,509
Stock options
Denominator
Dilutive effect of share based payment (in shares)	0	0
Performance stock units
Denominator
Dilutive effect of share based payment (in shares)	0	0
Restricted stock units
Denominator
Dilutive effect of share based payment (in shares)	0	0
Stock options
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1,912	4,230
Performance stock units
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1,480	1,051
Restricted stock units
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	1,564	1,228

Stock-Based Compensation - Addi

Stock-Based Compensation - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, outstanding, intrinsic value	$ 10.2
Options, exercisable, intrinsic value	10.2
Options, exercised, intrinsic value	$ 11.7
Term for outstanding stock	3 years 3 months 18 days
Term for exercisable stock	3 years 3 months 18 days
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	544,699
Vesting period	3 years
Actual number of shares that may be issued, percent, minimum	0.00%
Actual number of shares that may be issued, percent, maximum	200.00%
Incentive Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation not yet recognized, stock options	$ 22.9
Compensation cost not yet recognized, period for recognition	2 years 4 months 24 days
Tax benefit from compensation expense	$ 2.5	$ 0.5
Incentive Award Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	700,865
Restricted stock units, conversion of stock, conversion rights (in shares)	1
Compensation not yet recognized, stock options	$ 10.5
Compensation cost not yet recognized, period for recognition	2 years 4 months 24 days
Employees and Officers | Incentive Award Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Director | Incentive Award Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary Of Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Number of Shares
Outstanding beginning balance (in shares) | shares	4,200,341
Granted (in shares) | shares	0
Exercised (in shares) | shares	(2,212,215)
Forfeited (in shares) | shares	0
Expired (in shares) | shares	(76,306)
Outstanding ending balance (in shares) | shares	1,911,820
Exercisable ending balance (in shares) | shares	1,911,820
Weighted Average Exercise Price
Outstanding beginning balance (in dollars per share) | $ / shares	$ 4.82
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	3.33
Forfeited (in dollars per share) | $ / shares	14
Expired (in dollars per share) | $ / shares	14
Outstanding ending balance (in dollars per share) | $ / shares	6.18
Exercisable ending balance (in dollars per share) | $ / shares	$ 6.18

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary Of RSU Activity (Details) - Restricted stock units	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Number of Shares
Outstanding at Beginning of Period (in shares) | shares	1,165,369
Vested (in shares) | shares	(301,830)
Forfeited (in shares) | shares	0
Canceled (in shares) | shares	0
Outstanding at End of Period (in shares) | shares	1,564,404
Weighted Average Grant Date FV
Outstanding at Beginning of Period (in dollars per share)	$ 8.50
Granted (in dollars per share)	9.77
Vested (in dollars per share)	9.74
Forfeited (in dollars per share)	0
Canceled (in dollars per share)	0
Outstanding at End of Period (in dollars per share)	$ 8.83

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary Of Performance Shares Activity (Details) - Performance stock units	3 Months Ended
	Mar. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at Beginning of Period (in shares)	1,019,278
Granted (in shares)	544,699
Target Shares Vested (in shares)	(84,322)
Target Shares Forfeited (in shares)	0
Outstanding at End of Period (in shares)	1,479,655
Weighted Average FV Per Share
Outstanding at Beginning of Period (in dollars per share) | $ / shares	$ 12.27
Granted (in dollars per share) | $ / shares	15.35
Vested (in dollars per share) | $ / shares	27.51
Forfeited (in dollars per share) | $ / shares	0
Outstanding at End of Period (in dollars per share) | $ / shares	$ 12.53
2017
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at Beginning of Period (in shares)	0
Granted (in shares)	0
Target Shares Vested (in shares)	0
Target Shares Forfeited (in shares)	0
Outstanding at End of Period (in shares)	0
Weighted Average FV Per Share
Outstanding at End of Period (in dollars per share) | $ / shares	$ 10.73
2018
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at Beginning of Period (in shares)	84,322
Granted (in shares)	0
Target Shares Vested (in shares)	(84,322)
Target Shares Forfeited (in shares)	0
Outstanding at End of Period (in shares)	0
Weighted Average FV Per Share
Outstanding at End of Period (in dollars per share) | $ / shares	$ 27.51
2019
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at Beginning of Period (in shares)	126,318
Granted (in shares)	0
Target Shares Vested (in shares)	0
Target Shares Forfeited (in shares)	0
Outstanding at End of Period (in shares)	126,318
Weighted Average FV Per Share
Outstanding at End of Period (in dollars per share) | $ / shares	$ 27.49
2020
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at Beginning of Period (in shares)	808,638
Granted (in shares)	0
Target Shares Vested (in shares)	0
Target Shares Forfeited (in shares)	0
Outstanding at End of Period (in shares)	808,638
Weighted Average FV Per Share
Outstanding at End of Period (in dollars per share) | $ / shares	$ 8.30
2021
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at Beginning of Period (in shares)	0
Granted (in shares)	544,699
Target Shares Vested (in shares)	0
Target Shares Forfeited (in shares)	0
Outstanding at End of Period (in shares)	544,699
Weighted Average FV Per Share
Outstanding at End of Period (in dollars per share) | $ / shares	$ 15.35

Related-Party Transactions - (D

Related-Party Transactions - (Details)	Dec. 31, 2018USD ($)	Apr. 30, 2020USD ($)	Mar. 31, 2021USD ($)property	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Payable to related parties			$ 0		$ 0
Receivable from related parties			$ 0		0
Related party leasing
Related Party Transaction [Line Items]
Expenses with related party				$ 100,000
Number of properties adjacent to corporate office subject to leases | property			5
Equipment maintenance and repair services
Related Party Transaction [Line Items]
Expenses with related party			$ 0	300,000
Corporate offices | Related party leasing
Related Party Transaction [Line Items]
Payments to acquire buildings		$ 1,500,000
Property 1 | Related party leasing
Related Party Transaction [Line Items]
Expenses with related party			30,000
Property 2 | Related party leasing
Related Party Transaction [Line Items]
Expenses with related party			30,000
Property 3 | Related party leasing
Related Party Transaction [Line Items]
Expenses with related party			100,000
Property 4 | Related party leasing
Related Party Transaction [Line Items]
Expenses with related party			100,000
Property 5 | Related party leasing
Related Party Transaction [Line Items]
Expenses with related party			200,000
Drilling yard | Related party leasing
Related Party Transaction [Line Items]
Expenses with related party			100,000
Pioneer and Pioneer Pumping Services
Related Party Transaction [Line Items]
Payable to related parties			0		0
Receivable from related parties			61,200,000		$ 41,700,000
Revenue (including idle fees)			86,300,000	127,400,000
Pioneer and Pioneer Pumping Services | Asset acquisition
Related Party Transaction [Line Items]
Common stock consideration	$ 16,600,000
Cash received from acquisition	$ 110,000,000
Pioneer and Pioneer Pumping Services | Reimbursements paid, severance costs
Related Party Transaction [Line Items]
Amount of transaction with related party			$ 0	$ 2,600,000

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended		3 Months Ended		12 Months Ended
	Apr. 30, 2021	Mar. 31, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2018	Jan. 01, 2019	Mar. 31, 2013
Operating Leases
Cash paid for operating lease			$ 100	$ 100
Discount rate (as a percent)			6.70%
Lease term (in years)			2 years
ROU asset			$ 1,200
Accumulated amortization			600
Lease expense			100	100
Finance Leases
Purchase of land associated with ground lease			22,494	47,290
Payments included in measurement of operating lease liabilities			100	100
Payments included in measurement of finance lease liabilities				30
Short-Term Leases
Asset lease			$ 200	$ 300
Subsequent Event
Short-Term Leases
Operating lease, lease income	$ 3,000
Real Estate Lease
Operating Leases
Term of contract (in years)						4 years	10 years
Renewal term (in years)							10 years
Ground Lease
Finance Leases
Term of contract (in years)					10 years
Period before option to purchase land					1 year
Land | Ground Lease
Finance Leases
Purchase of land associated with ground lease		$ 2,500

Leases - Lease Maturity (Detail

Leases - Lease Maturity (Details) $ in Thousands	Mar. 31, 2021USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021	$ 285
2022	389
2023	98
2024	0
Total undiscounted future lease payments	772
Less: amount representing interest	(52)
Present value of future lease payments (lease obligation)	$ 720

Commitments and Contingencies -

Commitments and Contingencies - (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2019
Obligation with Joint and Several Liability Arrangement [Line Items]
Deposit on property and equipment			$ 6.1
Total sand purchased		$ 5.3
Letters of credit	$ 3.7
Net refund from tax audit	2.1
Crew Lodging Arrangement
Obligation with Joint and Several Liability Arrangement [Line Items]
Other commitment	5.5
Equipment and Other Assets
Obligation with Joint and Several Liability Arrangement [Line Items]
Deposit on property and equipment	$ 3
Former Executive Officer | LandCo
Obligation with Joint and Several Liability Arrangement [Line Items]
Noncontrolling equity interest (as a percent)	44.00%