ProPetro Holding (PUMP) 10-Q 4 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Oct. 29, 2021
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 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 Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		103,371,315
Entity Central Index Key	0001680247
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
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
No Trading Symbol	true
Security Exchange Name	NYSE

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 84,601	$ 68,772
Accounts receivable - net of allowance for credit losses of $217 and $1,497, respectively	149,650	84,244
Inventories	3,477	2,729
Prepaid expenses	5,197	11,199
Other current assets	14	782
Total current assets	242,939	167,726
PROPERTY AND EQUIPMENT - net of accumulated depreciation	853,928	880,477
OPERATING LEASE RIGHT-OF-USE ASSETS	486	709
OTHER NONCURRENT ASSETS:
Other noncurrent assets	1,397	1,827
Total other noncurrent assets	1,397	1,827
TOTAL ASSETS	1,098,750	1,050,739
CURRENT LIABILITIES:
Accounts payable	167,085	79,153
Operating lease liabilities	360	334
Accrued and other current liabilities	24,597	24,676
Total current liabilities	192,042	104,163
DEFERRED INCOME TAXES	63,701	75,340
NONCURRENT OPERATING LEASE LIABILITIES	192	465
Total liabilities	255,935	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, 103,259,971 and 100,912,777 shares issued, respectively	103	101
Additional paid-in capital	841,110	835,115
Retained earnings	1,602	35,555
Total shareholders’ equity	842,815	870,771
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,098,750	$ 1,050,739

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 217	$ 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)	103,259,971	100,912,777

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
REVENUE - Service revenue	$ 250,099	$ 133,710	$ 628,444	$ 634,888
Revenue, Product and Service [Extensible List]	Service [Member]	Service [Member]	Service [Member]	Service [Member]
COSTS AND EXPENSES
Cost of services (exclusive of depreciation and amortization)	$ 188,690	$ 99,592	$ 474,905	$ 468,633
General and administrative (inclusive of stock-based compensation)	21,348	21,817	59,079	67,086
Depreciation and amortization	33,531	37,467	100,253	117,844
Impairment expense	0	0	0	16,654
Loss on disposal of assets	12,424	11,286	40,500	39,875
Total costs and expenses	255,993	170,162	674,737	710,092
OPERATING LOSS	(5,894)	(36,452)	(46,293)	(75,204)
OTHER EXPENSE:
Interest expense	(143)	(137)	(477)	(2,208)
Other (expense)/Income	(309)	(312)	1,178	(583)
Total other (expense)/Income	(452)	(449)	701	(2,791)
LOSS BEFORE INCOME TAXES	(6,346)	(36,901)	(45,592)	(77,995)
INCOME TAX BENEFIT	1,279	7,717	11,639	15,087
NET LOSS	$ (5,067)	$ (29,184)	$ (33,953)	$ (62,908)
NET LOSS PER COMMON SHARE:
Basic (in dollars per share)	$ (0.05)	$ (0.29)	$ (0.33)	$ (0.62)
Diluted (in dollars per share)	$ (0.05)	$ (0.29)	$ (0.33)	$ (0.62)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	103,257	100,897	102,408	100,802
Diluted (in shares)	103,257	100,897	102,408	100,802

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY - USD ($) shares in Thousands, $ in Thousands	Total	Common Stock	Additional Paid-In Capital	Retained Earnings
Balance at beginning of period (in shares) at Dec. 31, 2019		100,624
Balance at beginning of period 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
Tax withholdings paid for net settlement of equity awards	(456)		(456)
Net loss	(7,804)			(7,804)
Balance at end of period (in shares) at Mar. 31, 2020		100,778
Balance at end of period at Mar. 31, 2020	961,516	$ 101	826,644	134,771
Balance at beginning of period (in shares) at Dec. 31, 2019		100,624
Balance at beginning of period at Dec. 31, 2019	969,305	$ 101	826,629	142,575
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(62,908)
Balance at end of period (in shares) at Sep. 30, 2020		100,898
Balance at end of period at Sep. 30, 2020	911,767	$ 101	831,999	79,667
Balance at beginning of period (in shares) at Mar. 31, 2020		100,778
Balance at beginning of period at Mar. 31, 2020	961,516	$ 101	826,644	134,771
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation cost	2,962		2,962
Issuance of equity awards, net (in shares)		111
Tax withholdings paid for net settlement of equity awards	(129)		(129)
Net loss	(25,920)			(25,920)
Balance at end of period (in shares) at Jun. 30, 2020		100,889
Balance at end of period at Jun. 30, 2020	938,429	$ 101	829,477	108,851
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation cost	2,535		2,535
Issuance of equity awards, net (in shares)		9
Tax withholdings paid for net settlement of equity awards	(13)		(13)
Net loss	(29,184)			(29,184)
Balance at end of period (in shares) at Sep. 30, 2020		100,898
Balance at end of period at Sep. 30, 2020	911,767	$ 101	831,999	79,667
Balance at beginning of period (in shares) at Dec. 31, 2020		100,913
Balance at beginning of period 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 loss	(20,375)			(20,375)
Balance at end of period (in shares) at Mar. 31, 2021		102,058
Balance at end of period at Mar. 31, 2021	847,269	$ 102	831,987	15,180
Balance at beginning of period (in shares) at Dec. 31, 2020		100,913
Balance at beginning of period at Dec. 31, 2020	870,771	$ 101	835,115	35,555
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(33,953)
Balance at end of period (in shares) at Sep. 30, 2021		103,260
Balance at end of period at Sep. 30, 2021	842,815	$ 103	841,110	1,602
Balance at beginning of period (in shares) at Mar. 31, 2021		102,058
Balance at beginning of period at Mar. 31, 2021	847,269	$ 102	831,987	15,180
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation cost	2,909		2,909
Issuance of equity awards, net (in shares)		1,169
Issuance of equity awards, net	0	$ 1	(1)
Tax withholdings paid for net settlement of equity awards	(159)		(159)
Proceeds from exercise of stock awards	3,235		3,235
Net loss	(8,511)			(8,511)
Balance at end of period (in shares) at Jun. 30, 2021		103,227
Balance at end of period at Jun. 30, 2021	844,743	$ 103	837,971	6,669
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation cost	3,009		3,009
Issuance of equity awards, net (in shares)		33
Proceeds from exercise of stock awards	130		130
Net loss	(5,067)			(5,067)
Balance at end of period (in shares) at Sep. 30, 2021		103,260
Balance at end of period at Sep. 30, 2021	$ 842,815	$ 103	$ 841,110	$ 1,602

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (33,953)	$ (62,908)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	100,253	117,844
Impairment expense	0	16,654
Deferred income tax benefit	(11,639)	(15,490)
Amortization of deferred debt issuance costs	405	407
Stock-based compensation	8,405	5,968
Provision for credit losses	282	448
Loss on disposal of assets	40,500	39,875
Changes in operating assets and liabilities:
Accounts receivable	(65,244)	117,072
Other current assets	325	2,598
Inventories	(747)	587
Prepaid expenses	6,027	4,741
Accounts payable	64,237	(97,380)
Accrued and other current liabilities	408	(11,996)
Accrued interest	0	(394)
Net cash provided by operating activities	109,259	118,026
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(87,700)	(86,509)
Proceeds from sale of assets	2,151	4,330
Net cash used in investing activities	(85,549)	(82,179)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of borrowings	0	(130,000)
Payment of finance lease obligation	0	(30)
Repayments of insurance financing	(5,473)	0
Proceeds from exercise of equity awards	3,365	0
Tax withholdings paid for net settlement of equity awards	(5,773)	(598)
Net cash used in financing activities	(7,881)	(130,628)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	15,829	(94,781)
CASH AND CASH EQUIVALENTS - Beginning of period	68,772	149,036
CASH AND CASH EQUIVALENTS - End of period	$ 84,601	$ 54,255

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 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 ("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 the 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 September 30, 2021 and December 31, 2020, accrued revenue (unbilled receivable) included as part of our accounts receivable was $33.3 million and $8.6 million, respectively. At September 30, 2021, the transaction price allocated to the remaining performance obligation for our partially completed hydraulic fracturing operations was $15.5 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 September 30, 2021, the Company had $0.2 million allowance for credit losses. Our allowance for credit losses is based on the evaluation of both our historic collection experience and the expected impact of any potential 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 nine months ended September 30, 2021: (in thousands) Balance - January 1, 2021 $ 1,497 Provision for credit losses during the period 282 Write-off during the period (1,562) Balance - September 30, 2021 $ 217

Recently Issued Accounting Stan

Recently Issued Accounting Standards	9 Months Ended
	Sep. 30, 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.

Fair Value Measurement

Fair Value Measurement	9 Months Ended
	Sep. 30, 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 (if any). The estimated fair value of our financial instruments at September 30, 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 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. There was no impairment of assets during the nine months ended September 30, 2021. In 2019, the Company entered an agreement with its equipment manufacturer granting the Company the option to purchase 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, was 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 then depressed crude oil prices and other market conditions that resulted in a decline in the demand for our hydraulic fracturing services. The total non-cash property and equipment impairment charges recorded during the nine months ended September 30, 2021, and 2020 in our hydraulic fracturing and drilling segments w as $0 and $7.2 million , respectively. 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 in the period. There were no additions to, or disposals of, goodwill during the nine months ended September 30, 2021. In the first quarter of 2020, the depressed crude oil prices and crude oil storage challenges faced in the U.S. oil and gas industry triggered the Company to perform an interim goodwill impairment test, and as a result, we compared the carrying value of the goodwill in our hydraulic fracturing reporting unit with the estimated fair value. Our impairment test also considered other relevant factors, including market capitalization and market participants' view of the oil and gas industry in reaching our conclusion that that carrying value of our goodwill in our pressure pumping reportable segment of $9.4 million was fully impaired during the first quarter of 2020. Accordingly, during the nine months ended September 30, 2020 , we recorded goodwill impairment of approximately $9.4 million.

Long-Term Debt

Long-Term Debt	9 Months Ended
	Sep. 30, 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 September 30, 2021, was approximately $72.7 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 September 30, 2021, and December 31, 2020.

Reportable Segment Information

Reportable Segment Information	9 Months Ended
	Sep. 30, 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), other (income) and expense and interest expense) are included in the "all other" category in the table below. Total corporate administrative expense for the three and nine months ended September 30, 2021, was $13.5 million and $25.1 million , respectively. The corporate administrative expense for the three and nine months ended September 30, 2020, was $7.0 million and $27.9 million, respectively. Our hydraulic fracturing operating segment revenue approxima ted 93.4% and 93.5% o f our pressure pumping revenue during the three and nine months ended September 30, 2021, respectively. During the three and nine months ended September 30, 2020, our hydraulic fracturing operating segment revenue approximated 95.2% and 94.0% of our pressure pumping revenue, 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 September 30, 2021 Pressure Pumping All Other Total Service revenue $ 245,641 $ 4,458 $ 250,099 Adjusted EBITDA $ 53,975 $ (11,877) $ 42,098 Depreciation and amortization $ 32,536 $ 995 $ 33,531 Capital expenditures $ 52,904 $ 300 $ 53,204 Total assets at September 30, 2021 $ 1,060,206 $ 38,544 $ 1,098,750 Three Months Ended September 30, 2020 Pressure Pumping All Other Total Service revenue $ 131,321 $ 2,389 $ 133,710 Adjusted EBITDA $ 26,662 $ (9,308) $ 17,354 Depreciation and amortization $ 36,326 $ 1,141 $ 37,467 Capital expenditures $ 7,571 $ 370 $ 7,941 Total assets at December 31, 2020 $ 1,009,631 $ 41,108 $ 1,050,739 Nine Months Ended September 30, 2021 Pressure Pumping All Other Total Service revenue $ 617,293 $ 11,151 $ 628,444 Adjusted EBITDA $ 132,673 $ (34,866) $ 97,807 Depreciation and amortization $ 97,307 $ 2,946 $ 100,253 Capital expenditures $ 113,670 $ 2,634 $ 116,304 Total assets at September 30, 2021 $ 1,060,206 $ 38,544 $ 1,098,750 Nine Months Ended September 30, 2020 Pressure Pumping All Other Total Service revenue $ 622,055 $ 12,833 $ 634,888 Adjusted EBITDA $ 139,359 $ (21,671) $ 117,688 Depreciation and amortization $ 114,205 $ 3,639 $ 117,844 Capital expenditures $ 56,873 $ 3,042 $ 59,915 Total assets at December 31, 2020 $ 1,009,631 $ 41,108 $ 1,050,739 Reconciliation of net income (loss) to adjusted EBITDA (in thousands): Three Months Ended September 30, 2021 Pressure Pumping All Other Total Net income (loss) $ 9,058 $ (14,125) $ (5,067) Depreciation and amortization 32,536 995 33,531 Interest expense — 143 143 Income tax benefit — (1,279) (1,279) Loss on disposal of assets 12,381 43 12,424 Stock-based compensation — 3,009 3,009 Other expense — 309 309 Other general and administrative expense (1) — (972) (972) Adjusted EBITDA $ 53,975 $ (11,877) $ 42,098 Three Months Ended September 30, 2020 Pressure Pumping All Other Total Net loss $ (20,920) $ (8,264) $ (29,184) Depreciation and amortization 36,326 1,141 37,467 Interest expense — 137 137 Income tax benefit — (7,717) (7,717) Loss on disposal of assets 11,256 30 11,286 Stock-based compensation — 2,535 2,535 Other expense — 312 312 Other general and administrative expense (1) — 2,481 2,481 Severance expense — 37 37 Adjusted EBITDA $ 26,662 $ (9,308) $ 17,354 Nine Months Ended September 30, 2021 Pressure Pumping All Other Total Net loss $ (5,426) $ (28,527) $ (33,953) Depreciation and amortization 97,307 2,946 100,253 Interest expense — 477 477 Income tax benefit — (11,639) (11,639) Loss (gain) on disposal of assets 40,792 (292) 40,500 Stock-based compensation — 8,405 8,405 Other income — (1,178) (1,178) Other general and administrative expense (1) — (5,670) (5,670) Severance expense — 612 612 Adjusted EBITDA $ 132,673 $ (34,866) $ 97,807 Nine Months Ended September 30, 2020 Pressure Pumping All Other Total Net loss $ (30,140) $ (32,768) $ (62,908) Depreciation and amortization 114,205 3,639 117,844 Impairment expense 15,559 1,095 16,654 Interest expense 1 2,207 2,208 Income tax benefit — (15,087) (15,087) Loss on disposal of assets 39,659 216 39,875 Stock-based compensation — 5,968 5,968 Other expense — 583 583 Other general and administrative expense (1) — 12,418 12,418 Retention bonus and severance expense 75 58 133 Adjusted EBITDA $ 139,359 $ (21,671) $ 117,688 (1) Other general and administrative expense, (net of reimbursement from insurance carriers) relates to nonrecurring professional fees paid to external consultants in connection with the Company's pending SEC investigation and shareholder litigation, net of insurance recoveries. During the three and nine months ended September 30, 2021 , we received reimbursement of approximately $1.4 million and $8.1 million , respectively, from our insurance carriers in connection with the SEC investigation and shareholder litigation.

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2021 and 2020, (in thousands, except for per share data): Three Months Ended September 30, 2021 2020 Numerator (both basic and diluted) Net loss relevant to common stockholders $ (5,067) $ (29,184) Denominator Denominator for basic loss per share 103,257 100,897 Dilutive effect of stock options — — Dilutive effect of performance share units — — Dilutive effect of restricted stock units — — Denominator for diluted loss per share 103,257 100,897 Basic loss per share $ (0.05) $ (0.29) Diluted loss per share $ (0.05) $ (0.29) Nine Months Ended September 30, 2021 2020 Numerator (both basic and diluted) Net loss relevant to common stockholders $ (33,953) $ (62,908) Denominator Denominator for basic loss per share 102,408 100,802 Dilutive effect of stock options — — Dilutive effect of performance share units — — Dilutive effect of restricted stock units — — Denominator for diluted loss per share 102,408 100,802 Basic loss per share $ (0.33) $ (0.62) Diluted loss per share $ (0.33) $ (0.62) As shown in the table below, the following stock options, restricted stock units and performance stock units outstanding as of September 30, 2021 and 2020, respectively, have not been included in the calculation of diluted loss per common share for the three and nine months ended September 30, 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 962 4,220 Restricted stock units 1,435 1,218 Performance stock units 1,586 1,042 Total 3,983 6,480

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Options There were no new stock option grants during the nine months ended September 30, 2021. As of September 30, 2021, the aggregate intrinsic value for our outstanding stock options was $2.6 million, and the aggregate intrinsic value for our exercisable stock options was $2.6 million. The aggregate intrinsic value for the exercised stock options during the nine months ended September 30, 2021 was approximately $18.9 million. The remaining exercise period for both the outstanding and exercisable stock options as of September 30, 2021 w as 3.9 years. A summary of the stock option activity for the nine months ended September 30, 2021 is presented below: Number of Shares Weighted Outstanding at January 1, 2021 4,200 $ 4.82 Granted — $ — Exercised (3,162) $ 3.40 Forfeited — $ — Expired (76) $ 14.00 Outstanding at September 30, 2021 962 $ 8.76 Exercisable at September 30, 2021 962 $ 8.76 Restricted Stock Units During the nine months ended September 30, 2021, we granted a total of 851,885 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 September 30, 2021, the total unrecognized compensation expense for all RSUs was approximately $8.9 million, and is expected to be recognized over a weighted average period of approximately 2.0 years. The following table summarizes RSUs activity during the nine months ended September 30, 2021: Number of Weighted Outstanding at January 1, 2021 1,165 $ 8.50 Granted 852 $ 9.69 Vested (570) $ 8.58 Forfeited (12) $ 10.40 Canceled — $ — Outstanding at September 30, 2021 1,435 $ 9.16 Performance Share Units During the nine months ended September 30, 2021, we granted 650,774 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 nine months ended September 30, 2021: Period Target Shares Outstanding at January 1, 2021 Target Target Shares Vested Target Target Shares Outstanding at September 30, 2021 Weighted 2018 84 — (84) — — $ 27.51 2019 126 — — — 126 $ 27.49 2020 809 — — — 809 $ 8.30 2021 — 651 — — 651 $ 14.76 Total 1,019 651 (84) — 1,586 $ 12.48 Weighted Average FV Per Share $ 12.27 $ 14.76 $ 27.51 $ — $ 12.48 The total stock-based compensation expense for the nine months ended September 30, 2021 and 2020 for all stock awards was $8.4 million and $6.0 million, respectively. The total unrecognized stock-based compensation expense as of September 30, 2021 was approximately $19.5 million,

Related-Party Transactions

Related-Party Transactions	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2021 and 2020, the Company incurred approximat ely $0 and $1.2 million, respectively, for equipment maintenance services associated with this related party. At September 30, 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 approximate ly $147.3 million and $68.3 million of our total revenue during the three months ended September 30, 2021 and 2020, respectively. Revenue from services provided to Pioneer (including idle fees) accounted for approximatel y $364.3 million and $259.9 million of our total revenue during the nine months ended September 30, 2021 and 2020, respectively. In connection with the Pioneer Pressure Pumping Acquisition, the Company agreed to reimburse Pioneer for our portion of the retention bonuses paid to former Pioneer employees that were subsequently employed by the Company. During the nine months ended September 30, 2021 and 2020, the Company reimbursed Pioneer approxima tely $0 and $2.7 million, respectively. As of September 30, 2021, the total accounts receivable due from Pioneer, including estimated unbilled receivable for services (including idle fees) we provided, amounted to approxim ately $89.4 million a nd the amount due to Pioneer wa s $0. As of December 31, 2020, the balance due from Pioneer for services (including idle fees) we provided amounted to approximately $41.7 million and the amount due to Pioneer was $0.

Leases

Leases	9 Months Ended
	Sep. 30, 2021
Leases [Abstract]
Leases	Leases Operating Leases Description of Lease In March 2013, we entered into a ten year real estate lease contract (the "Real Estate Lease") with a commencement date of April 1, 2013, as part of the expansion of our equipment yard. The lease is with an entity in which a former director of the Company has a noncontrolling equity ownership interest. During the nine months ended September 30, 2021 and 2020, the Company made lease payments of approximate ly $0.3 million a nd $0.3 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. We accounted for our 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 September 30, 2021, the weighted average discount rate and remaining lease term was 6.7% and 1.5 years, res pectively. As of September 30, 2021, the total operating lease right-of-use asset cost was approximately $1.2 million, and accumulated amortization was approximately $0.8 million. As of December 31, 2020, our total operating lease right-of-use asset cost was approximately $1.2 million, and accumulat ed amortization was $0.5 million. For the nine months ended September 30, 2021 and 2020, we recorded operating lease cost of approximatel y $0.3 million and $0.3 million, respectively, in our statement of operations. Finance Leases Description of Ground Lease In 2018, we entered into a ten year land lease contract (the "Ground Lease") with an exclusive option to purchase the land exercisable beginning one year from the commencement date of October 1, 2018 through the end of the contractual lease term. In March 2020, the Company exercised its option and purchased the land associated with the Ground Lease for approximately $2.5 million. Maturity Analysis of Lease Liabilities The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our operating lease as of September 30, 2021 are as follows: ($ in thousands) Totals 2021 $ 95 2022 389 2023 98 Total undiscounted future lease payments 582 Less: amount representing interest (30) Present value of future lease payments (lease obligation) $ 552 The total cash paid for amounts included in the measurement of our operating lease liability during the nine months ended September 30, 2021 was approximatel y $0.3 million. During the nine months ended September 30, 2020, total cash paid for amounts included in the measurement of our operating and finance lease liabilities was approximately $0.3 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 lease") from our balance sheet and continue to record short-term leases as a period expense. For the nine months ended September 30, 2021 and 2020 our short-term lease expense was approximatel y $0.4 million and $0.8 million, respectively. In April 2021, we entered into a short-term lease arrangement to lease our gas turbine (the "Equipment Lease"') with a commencement date of June 1, 2021 through September 30, 2021. We have classified the Equipment Lease as an operating lease, and during the three and nine ended September 30, 2021
Leases	Leases Operating Leases Description of Lease In March 2013, we entered into a ten year real estate lease contract (the "Real Estate Lease") with a commencement date of April 1, 2013, as part of the expansion of our equipment yard. The lease is with an entity in which a former director of the Company has a noncontrolling equity ownership interest. During the nine months ended September 30, 2021 and 2020, the Company made lease payments of approximate ly $0.3 million a nd $0.3 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. We accounted for our 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 September 30, 2021, the weighted average discount rate and remaining lease term was 6.7% and 1.5 years, res pectively. As of September 30, 2021, the total operating lease right-of-use asset cost was approximately $1.2 million, and accumulated amortization was approximately $0.8 million. As of December 31, 2020, our total operating lease right-of-use asset cost was approximately $1.2 million, and accumulat ed amortization was $0.5 million. For the nine months ended September 30, 2021 and 2020, we recorded operating lease cost of approximatel y $0.3 million and $0.3 million, respectively, in our statement of operations. Finance Leases Description of Ground Lease In 2018, we entered into a ten year land lease contract (the "Ground Lease") with an exclusive option to purchase the land exercisable beginning one year from the commencement date of October 1, 2018 through the end of the contractual lease term. In March 2020, the Company exercised its option and purchased the land associated with the Ground Lease for approximately $2.5 million. Maturity Analysis of Lease Liabilities The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our operating lease as of September 30, 2021 are as follows: ($ in thousands) Totals 2021 $ 95 2022 389 2023 98 Total undiscounted future lease payments 582 Less: amount representing interest (30) Present value of future lease payments (lease obligation) $ 552 The total cash paid for amounts included in the measurement of our operating lease liability during the nine months ended September 30, 2021 was approximatel y $0.3 million. During the nine months ended September 30, 2020, total cash paid for amounts included in the measurement of our operating and finance lease liabilities was approximately $0.3 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 lease") from our balance sheet and continue to record short-term leases as a period expense. For the nine months ended September 30, 2021 and 2020 our short-term lease expense was approximatel y $0.4 million and $0.8 million, respectively. In April 2021, we entered into a short-term lease arrangement to lease our gas turbine (the "Equipment Lease"') with a commencement date of June 1, 2021 through September 30, 2021. We have classified the Equipment Lease as an operating lease, and during the three and nine ended September 30, 2021

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Commitments We entered into certain commitments for fixed assets, consumables and services incidental to the ordinary conduct of our business, generally for quantities required for our businesses and at competitive market prices. These commitments are designed to assure sources of supply and are not expected to be in excess of normal requirements. As of September 30, 2021, the total outstanding contractual commitments entered into as part of normal course of business for supply of certain equipment and other assets was approximately $1.0 million. At September 30, 2021, the total remaining lease commitments for all of our short-term leases and lodging commitments was approximately $4.3 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. During the nine months ended September 30, 2021 and 2020, no shortfall fee was recorded. However, one of our Sand Suppliers has filed a suit against us that includes claims related to alleged shortfall fees. The suit is in the early stages, and we are contesting the claims. While we cannot reasonably estimate the outcome of the matter at this time, in the opinion of management, the ultimate disposition of the action will not have a materially adverse effect on the Company. One of the Sand Suppliers (“SandCo”) we entered into an agreement 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 September 30, 2021, the Company had issued letters of credit of approximately $3.7 million u nder the ABL Credit Facility in connection with the Company’s casualty insurance policy. Contingent Liabilities Legal Matters 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. On September 13, 2021, the Court partially granted and partially denied the motions to dismiss filed by the Company and the individual defendants. 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. On September 15, 2021, the Court granted the Company's motion to dismiss the complaint in its entirety, without prejudice. 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 SEC investigation, or any other related lawsuit or investigation. As of September 30, 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 and Equipment Insurance 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. Effective November 2021 and in connection with our equipment insurance program renewal, the Company will self-insure up to $10 million per occurrence for certain losses arising from or attributable to fire and/or explosion at the wellsites. 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 September 30, 2021, 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 (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 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 ("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 the 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
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 September 30, 2021, the Company had $0.2 million allowance for credit losses. Our allowance for credit losses is based on the evaluation of both our historic collection experience and the expected impact of any potential 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.
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.
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 (if any). The estimated fair value of our financial instruments at September 30, 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)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2021: (in thousands) Balance - January 1, 2021 $ 1,497 Provision for credit losses during the period 282 Write-off during the period (1,562) Balance - September 30, 2021 $ 217

Reportable Segment Information

Reportable Segment Information (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2021 Pressure Pumping All Other Total Service revenue $ 245,641 $ 4,458 $ 250,099 Adjusted EBITDA $ 53,975 $ (11,877) $ 42,098 Depreciation and amortization $ 32,536 $ 995 $ 33,531 Capital expenditures $ 52,904 $ 300 $ 53,204 Total assets at September 30, 2021 $ 1,060,206 $ 38,544 $ 1,098,750 Three Months Ended September 30, 2020 Pressure Pumping All Other Total Service revenue $ 131,321 $ 2,389 $ 133,710 Adjusted EBITDA $ 26,662 $ (9,308) $ 17,354 Depreciation and amortization $ 36,326 $ 1,141 $ 37,467 Capital expenditures $ 7,571 $ 370 $ 7,941 Total assets at December 31, 2020 $ 1,009,631 $ 41,108 $ 1,050,739 Nine Months Ended September 30, 2021 Pressure Pumping All Other Total Service revenue $ 617,293 $ 11,151 $ 628,444 Adjusted EBITDA $ 132,673 $ (34,866) $ 97,807 Depreciation and amortization $ 97,307 $ 2,946 $ 100,253 Capital expenditures $ 113,670 $ 2,634 $ 116,304 Total assets at September 30, 2021 $ 1,060,206 $ 38,544 $ 1,098,750 Nine Months Ended September 30, 2020 Pressure Pumping All Other Total Service revenue $ 622,055 $ 12,833 $ 634,888 Adjusted EBITDA $ 139,359 $ (21,671) $ 117,688 Depreciation and amortization $ 114,205 $ 3,639 $ 117,844 Capital expenditures $ 56,873 $ 3,042 $ 59,915 Total assets at December 31, 2020 $ 1,009,631 $ 41,108 $ 1,050,739 Reconciliation of net income (loss) to adjusted EBITDA (in thousands): Three Months Ended September 30, 2021 Pressure Pumping All Other Total Net income (loss) $ 9,058 $ (14,125) $ (5,067) Depreciation and amortization 32,536 995 33,531 Interest expense — 143 143 Income tax benefit — (1,279) (1,279) Loss on disposal of assets 12,381 43 12,424 Stock-based compensation — 3,009 3,009 Other expense — 309 309 Other general and administrative expense (1) — (972) (972) Adjusted EBITDA $ 53,975 $ (11,877) $ 42,098 Three Months Ended September 30, 2020 Pressure Pumping All Other Total Net loss $ (20,920) $ (8,264) $ (29,184) Depreciation and amortization 36,326 1,141 37,467 Interest expense — 137 137 Income tax benefit — (7,717) (7,717) Loss on disposal of assets 11,256 30 11,286 Stock-based compensation — 2,535 2,535 Other expense — 312 312 Other general and administrative expense (1) — 2,481 2,481 Severance expense — 37 37 Adjusted EBITDA $ 26,662 $ (9,308) $ 17,354 Nine Months Ended September 30, 2021 Pressure Pumping All Other Total Net loss $ (5,426) $ (28,527) $ (33,953) Depreciation and amortization 97,307 2,946 100,253 Interest expense — 477 477 Income tax benefit — (11,639) (11,639) Loss (gain) on disposal of assets 40,792 (292) 40,500 Stock-based compensation — 8,405 8,405 Other income — (1,178) (1,178) Other general and administrative expense (1) — (5,670) (5,670) Severance expense — 612 612 Adjusted EBITDA $ 132,673 $ (34,866) $ 97,807 Nine Months Ended September 30, 2020 Pressure Pumping All Other Total Net loss $ (30,140) $ (32,768) $ (62,908) Depreciation and amortization 114,205 3,639 117,844 Impairment expense 15,559 1,095 16,654 Interest expense 1 2,207 2,208 Income tax benefit — (15,087) (15,087) Loss on disposal of assets 39,659 216 39,875 Stock-based compensation — 5,968 5,968 Other expense — 583 583 Other general and administrative expense (1) — 12,418 12,418 Retention bonus and severance expense 75 58 133 Adjusted EBITDA $ 139,359 $ (21,671) $ 117,688 (1) Other general and administrative expense, (net of reimbursement from insurance carriers) relates to nonrecurring professional fees paid to external consultants in connection with the Company's pending SEC investigation and shareholder litigation, net of insurance recoveries. During the three and nine months ended September 30, 2021 , we received reimbursement of approximately $1.4 million and $8.1 million , respectively, from our insurance carriers in connection with the SEC investigation and shareholder litigation.

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings Per Share [Abstract]
Calculations of Net Loss Per Share	The table below shows the calculations for the three and nine months ended September 30, 2021 and 2020, (in thousands, except for per share data): Three Months Ended September 30, 2021 2020 Numerator (both basic and diluted) Net loss relevant to common stockholders $ (5,067) $ (29,184) Denominator Denominator for basic loss per share 103,257 100,897 Dilutive effect of stock options — — Dilutive effect of performance share units — — Dilutive effect of restricted stock units — — Denominator for diluted loss per share 103,257 100,897 Basic loss per share $ (0.05) $ (0.29) Diluted loss per share $ (0.05) $ (0.29) Nine Months Ended September 30, 2021 2020 Numerator (both basic and diluted) Net loss relevant to common stockholders $ (33,953) $ (62,908) Denominator Denominator for basic loss per share 102,408 100,802 Dilutive effect of stock options — — Dilutive effect of performance share units — — Dilutive effect of restricted stock units — — Denominator for diluted loss per share 102,408 100,802 Basic loss per share $ (0.33) $ (0.62) Diluted loss per share $ (0.33) $ (0.62)
Schedule of Antidilutive Securities	As shown in the table below, the following stock options, restricted stock units and performance stock units outstanding as of September 30, 2021 and 2020, respectively, have not been included in the calculation of diluted loss per common share for the three and nine months ended September 30, 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 962 4,220 Restricted stock units 1,435 1,218 Performance stock units 1,586 1,042 Total 3,983 6,480

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Summary of Stock Options Activity	A summary of the stock option activity for the nine months ended September 30, 2021 is presented below: Number of Shares Weighted Outstanding at January 1, 2021 4,200 $ 4.82 Granted — $ — Exercised (3,162) $ 3.40 Forfeited — $ — Expired (76) $ 14.00 Outstanding at September 30, 2021 962 $ 8.76 Exercisable at September 30, 2021 962 $ 8.76
Summary of RSUs Activity	The following table summarizes RSUs activity during the nine months ended September 30, 2021: Number of Weighted Outstanding at January 1, 2021 1,165 $ 8.50 Granted 852 $ 9.69 Vested (570) $ 8.58 Forfeited (12) $ 10.40 Canceled — $ — Outstanding at September 30, 2021 1,435 $ 9.16
Summary of Performance Shares Activity	The following table summarizes information about PSUs activity during the nine months ended September 30, 2021: Period Target Shares Outstanding at January 1, 2021 Target Target Shares Vested Target Target Shares Outstanding at September 30, 2021 Weighted 2018 84 — (84) — — $ 27.51 2019 126 — — — 126 $ 27.49 2020 809 — — — 809 $ 8.30 2021 — 651 — — 651 $ 14.76 Total 1,019 651 (84) — 1,586 $ 12.48 Weighted Average FV Per Share $ 12.27 $ 14.76 $ 27.51 $ — $ 12.48

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2021 are as follows: ($ in thousands) Totals 2021 $ 95 2022 389 2023 98 Total undiscounted future lease payments 582 Less: amount representing interest (30) Present value of future lease payments (lease obligation) $ 552

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)segment	Dec. 31, 2020USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of reportable segments | segment	1
Contract with customer, asset, net	$ 33,300	$ 8,600
Allowance for credit losses during the period	217	$ 1,497
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-10-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 15,500
Revenue, remaining performance obligation, expected timing of satisfaction	1 month

Basis of Presentation - Allowan

Basis of Presentation - Allowance for Credit Losses (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 1,497
Provision for credit losses during the period	282
Write-off during the period	(1,562)
Ending balance	$ 217

Fair Value Measurement (Details

Fair Value Measurement (Details)	3 Months Ended	9 Months Ended
	Mar. 31, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 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
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		$ 9,400,000
DuraStim
Property, Plant and Equipment [Line Items]
Purchase options, property and equipment | hp				108,000
Permian drilling assets
Property, Plant and Equipment [Line Items]
Impairment expense	$ 1,100,000

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	9 Months Ended
	Sep. 30, 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]
Borrowing capacity	$ 0	$ 0
ABL Facility | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Borrowing base, accounts receivable percentage	85.00%
Borrowing base	$ 72,700,000
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 - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)segment	Sep. 30, 2020USD ($)
Revenue, Major Customer [Line Items]
Number of operating segments			3
Number of reportable segments			1
Administrative fees expense | $	$ 13.5	$ 7	$ 25.1	$ 27.9
Revenue from Contract with Customer, Product and Service Benchmark | Service Concentration Risk | Pressure Pumping
Revenue, Major Customer [Line Items]
Concentration risk	93.40%	95.20%	93.50%	94.00%

Reportable Segment Informatio_3

Reportable Segment Information - Reconciliation of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Service revenue	$ 250,099	$ 133,710	$ 628,444	$ 634,888
Adjusted EBITDA	42,098	17,354	97,807	117,688
Depreciation and amortization	33,531	37,467	100,253	117,844
Capital expenditures	53,204	7,941	116,304	59,915
Total assets	1,098,750	1,050,739	1,098,750	1,050,739	$ 1,050,739
Pressure Pumping
Segment Reporting Information [Line Items]
Service revenue	245,641	131,321	617,293	622,055
Adjusted EBITDA	53,975	26,662	132,673	139,359
Depreciation and amortization	32,536	36,326	97,307	114,205
Capital expenditures	52,904	7,571	113,670	56,873
Total assets	1,060,206	1,009,631	1,060,206	1,009,631
All Other
Segment Reporting Information [Line Items]
Service revenue	4,458	2,389	11,151	12,833
Adjusted EBITDA	(11,877)	(9,308)	(34,866)	(21,671)
Depreciation and amortization	995	1,141	2,946	3,639
Capital expenditures	300	370	2,634	3,042
Total assets	$ 38,544	$ 41,108	$ 38,544	$ 41,108

Reportable Segment Informatio_4

Reportable Segment Information - Reconciliation of Segment Information EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Segment Reporting Information [Line Items]
Net income (loss)	$ (5,067)	$ (8,511)	$ (20,375)	$ (29,184)	$ (25,920)	$ (7,804)	$ (33,953)	$ (62,908)
Depreciation and amortization	33,531			37,467			100,253	117,844
Impairment expense	0			0			0	16,654
Interest expense	143			137			477	2,208
Income tax benefit	(1,279)			(7,717)			(11,639)	(15,087)
Loss (gain) on disposal of assets	12,424			11,286			40,500	39,875
Stock-based compensation	3,009			2,535			8,405	5,968
Other expense (income)	309			312			(1,178)	583
Other general and administrative expense	(972)			2,481			(5,670)	12,418
Severance expense				37			612
Retention bonus and severance expense								133
Adjusted EBITDA	42,098			17,354			97,807	117,688
Insurance recoveries	1,400						8,100
Pressure Pumping
Segment Reporting Information [Line Items]
Net income (loss)	9,058			(20,920)			(5,426)	(30,140)
Depreciation and amortization	32,536			36,326			97,307	114,205
Impairment expense								15,559
Interest expense	0			0			0	1
Income tax benefit	0			0			0	0
Loss (gain) on disposal of assets	12,381			11,256			40,792	39,659
Stock-based compensation	0			0			0	0
Other expense (income)	0			0			0	0
Other general and administrative expense	0			0			0	0
Severance expense				0			0
Retention bonus and severance expense								75
Adjusted EBITDA	53,975			26,662			132,673	139,359
All Other
Segment Reporting Information [Line Items]
Net income (loss)	(14,125)			(8,264)			(28,527)	(32,768)
Depreciation and amortization	995			1,141			2,946	3,639
Impairment expense								1,095
Interest expense	143			137			477	2,207
Income tax benefit	(1,279)			(7,717)			(11,639)	(15,087)
Loss (gain) on disposal of assets	43			30			(292)	216
Stock-based compensation	3,009			2,535			8,405	5,968
Other expense (income)	309			312			(1,178)	583
Other general and administrative expense	(972)			2,481			(5,670)	12,418
Severance expense				37			612
Retention bonus and severance expense								58
Adjusted EBITDA	$ (11,877)			$ (9,308)			$ (34,866)	$ (21,671)

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020
Numerator (both basic and diluted)
Net loss relevant to common stockholders	$ (5,067)	$ (8,511)	$ (20,375)	$ (29,184)	$ (25,920)	$ (7,804)	$ (33,953)	$ (62,908)
Denominator
Denominator for basic loss per share (in shares)	103,257			100,897			102,408	100,802
Denominator for diluted loss per share (in shares)	103,257			100,897			102,408	100,802
Basic loss per share (in dollars per share)	$ (0.05)			$ (0.29)			$ (0.33)	$ (0.62)
Diluted loss per share (in dollars per share)	$ (0.05)			$ (0.29)			$ (0.33)	$ (0.62)
Antidilutive securities excluded from computation of earnings per share, amount (in shares)							3,983	6,480
Stock options
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (in shares)							962	4,220
Restricted stock units
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (in shares)							1,435	1,218
Performance stock units
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (in shares)							1,586	1,042
Stock options
Denominator
Dilutive effect of share based payment (in shares)	0			0			0	0
Performance stock units
Denominator
Dilutive effect of share based payment (in shares)	0			0			0	0
Restricted stock units
Denominator
Dilutive effect of share based payment (in shares)	0			0			0	0

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, granted (in shares)	0
Options, outstanding, intrinsic value	$ 2.6
Options, exercisable, intrinsic value	2.6
Options, exercised, intrinsic value	$ 18.9
Term for outstanding stock	3 years 10 months 24 days
Term for exercisable stock	3 years 10 months 24 days
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	650,774
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	$ 19.5
Compensation cost not yet recognized, period for recognition	2 years
Tax benefit from compensation expense	$ 8.4	$ 6
Incentive Award Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	851,885
Restricted stock units, conversion of stock, conversion rights (in shares)	1
Compensation not yet recognized, stock options	$ 8.9
Compensation cost not yet recognized, period for recognition	2 years
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)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Number of Shares
Outstanding beginning balance (in shares) | shares	4,200,000
Granted (in shares) | shares	0
Exercised (in shares) | shares	(3,162,000)
Forfeited (in shares) | shares	0
Expired (in shares) | shares	(76,000)
Outstanding ending balance (in shares) | shares	962,000
Exercisable ending balance (in shares) | shares	962,000
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	3.40
Forfeited (in dollars per share) | $ / shares	0
Expired (in dollars per share) | $ / shares	14
Outstanding ending balance (in dollars per share) | $ / shares	8.76
Exercisable ending balance (in dollars per share) | $ / shares	$ 8.76

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of RSU Activity (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Weighted Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share)	$ 12.27
Granted (in dollars per share)	14.76
Vested (in dollars per share)	27.51
Forfeited (in dollars per share)	0
Outstanding ending balance (in dollars per share)	$ 12.48
Restricted stock units
Number of Shares
Outstanding beginning balance (in shares) | shares	1,165
Vested (in shares) | shares	(570)
Forfeited (in shares) | shares	(12)
Canceled (in shares) | shares	0
Outstanding ending balance (in shares) | shares	1,435
Weighted Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share)	$ 8.50
Granted (in dollars per share)	9.69
Vested (in dollars per share)	8.58
Forfeited (in dollars per share)	10.40
Canceled (in dollars per share)	0
Outstanding ending balance (in dollars per share)	$ 9.16

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Performance Shares Activity (Details)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Weighted Average FV Per Share
Outstanding beginning balance (in dollars per share) | $ / shares	$ 12.27
Granted (in dollars per share) | $ / shares	14.76
Vested (in dollars per share) | $ / shares	27.51
Forfeited (in dollars per share) | $ / shares	0
Outstanding ending balance (in dollars per share) | $ / shares	$ 12.48
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding beginning balance (in shares)	1,019,000
Target Shares Granted (in shares)	650,774
Target Shares Vested (in shares)	(84,000)
Target Shares Forfeited (in shares)	0
Outstanding ending balance (in shares)	1,586,000
Weighted Average FV Per Share
Outstanding ending balance (in dollars per share) | $ / shares	$ 12.48
2018 | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding beginning balance (in shares)	84,000
Target Shares Granted (in shares)	0
Target Shares Vested (in shares)	(84,000)
Target Shares Forfeited (in shares)	0
Outstanding ending balance (in shares)	0
Weighted Average FV Per Share
Outstanding ending balance (in dollars per share) | $ / shares	$ 27.51
2019 | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding beginning balance (in shares)	126,000
Target Shares Granted (in shares)	0
Target Shares Vested (in shares)	0
Target Shares Forfeited (in shares)	0
Outstanding ending balance (in shares)	126,000
Weighted Average FV Per Share
Outstanding ending balance (in dollars per share) | $ / shares	$ 27.49
2020 | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding beginning balance (in shares)	809,000
Target Shares Granted (in shares)	0
Target Shares Vested (in shares)	0
Target Shares Forfeited (in shares)	0
Outstanding ending balance (in shares)	809,000
Weighted Average FV Per Share
Outstanding ending balance (in dollars per share) | $ / shares	$ 8.30
2021 | Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding beginning balance (in shares)	0
Target Shares Granted (in shares)	651,000
Target Shares Vested (in shares)	0
Target Shares Forfeited (in shares)	0
Outstanding ending balance (in shares)	651,000
Weighted Average FV Per Share
Outstanding ending balance (in dollars per share) | $ / shares	$ 14.76

Related-Party Transactions (Det

Related-Party Transactions (Details)	Dec. 31, 2018USD ($)	Apr. 30, 2020USD ($)	Sep. 30, 2021USD ($)property	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)property	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Related Party Transaction [Line Items]
Receivable from related parties			$ 0		$ 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		5
Equipment maintenance and repair services
Related Party Transaction [Line Items]
Expenses with related party					$ 0	$ 1,200,000
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]
Revenue (including idle fees)			$ 147,300,000	$ 68,300,000	364,300,000	259,900,000
Receivable from related parties			89,400,000		89,400,000		41,700,000
Payable to related parties			$ 0		0		$ 0
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	$ 2,700,000

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2018	Dec. 31, 2020	Jan. 01, 2019	Mar. 31, 2013
Operating Leases
Cash paid for operating lease			$ 300	$ 300
Discount rate		6.70%	6.70%
Lease term		1 year 6 months	1 year 6 months
ROU asset		$ 1,200	$ 1,200			$ 1,200
Accumulated amortization		800	800			$ 500
Lease expense			300	300
Finance Leases
Purchase of land associated with ground lease			87,700	86,509
Payments included in measurement of operating lease liabilities			300	300
Payments included in measurement of finance lease liabilities				30
Short-Term Leases
Asset lease			400	$ 800
Operating lease, lease income		$ 2,300	$ 3,000
Real Estate Lease
Operating Leases
Term of contract							4 years	10 years
Renewal term (up to)								10 years
Ground Lease
Finance Leases
Term of contract					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 - Operating Lease Maturi

Leases - Operating Lease Maturity (Details) $ in Thousands	Sep. 30, 2021USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2021	$ 95
2022	389
2023	98
Total undiscounted future lease payments	582
Less: amount representing interest	(30)
Present value of future lease payments (lease obligation)	$ 552

Commitments and Contingencies (

Commitments and Contingencies (Details)	1 Months Ended	3 Months Ended		9 Months Ended
	May 31, 2020lawsuit	Mar. 31, 2021USD ($)	Mar. 31, 2020USD ($)	Sep. 30, 2021USD ($)	Dec. 31, 2019USD ($)
Obligation with Joint and Several Liability Arrangement [Line Items]
Deposit on property and equipment					$ 6,100,000
Lease commitment				$ 4,300,000
Total sand purchased			$ 5,300,000
Letters of credit				3,700,000
Net refund from tax audit		$ 2,100,000
Fire and/or Explosion Wellsites
Obligation with Joint and Several Liability Arrangement [Line Items]
Self insurance for losses (up to)				$ 10,000,000
In re ProPetro Holding Corp. Derivative Litigation
Obligation with Joint and Several Liability Arrangement [Line Items]
Shareholder derivative lawsuits | lawsuit	2
Former Executive Officer | LandCo
Obligation with Joint and Several Liability Arrangement [Line Items]
Noncontrolling equity interest				44.00%
Equipment and Other Assets
Obligation with Joint and Several Liability Arrangement [Line Items]
Deposit on property and equipment				$ 1,000,000