ProPetro Holding (PUMP) 10-Q 5 May 22 2022 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2022	Apr. 30, 2022
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
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	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		104,240,512
Entity Central Index Key	0001680247
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
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	Mar. 31, 2022	Dec. 31, 2021
CURRENT ASSETS:
Cash and cash equivalents	$ 70,768	$ 111,918
Accounts receivable - net of allowance for credit losses of $217 and $217, respectively	172,180	128,148
Inventories	2,297	3,949
Prepaid expenses	5,092	6,752
Other current assets	491	297
Total current assets	250,828	251,064
PROPERTY AND EQUIPMENT - net of accumulated depreciation	831,625	808,494
OPERATING LEASE RIGHT-OF-USE ASSETS	909	409
OTHER NONCURRENT ASSETS:
Other noncurrent assets	1,089	1,269
Total other noncurrent assets	1,089	1,269
TOTAL ASSETS	1,084,451	1,061,236
CURRENT LIABILITIES:
Accounts payable	151,668	152,649
Operating lease liabilities	685	369
Accrued and other current liabilities	19,738	20,767
Total current liabilities	172,091	173,785
DEFERRED INCOME TAXES	64,878	61,052
NONCURRENT OPERATING LEASE LIABILITIES	270	97
Total liabilities	237,239	234,934
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, 103,999,626 and 103,437,177 shares issued, respectively	104	103
Additional paid-in capital	853,921	844,829
Accumulated deficit	(6,813)	(18,630)
Total shareholders’ equity	847,212	826,302
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 1,084,451	$ 1,061,236

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 217	$ 217
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)	103,999,626	103,437,177

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income Statement [Abstract]
Revenue, Product and Service [Extensible List]	Service [Member]	Service [Member]
REVENUE - Service revenue	$ 282,680	$ 161,458
COSTS AND EXPENSES
Cost of services (exclusive of depreciation and amortization)	197,271	123,378
General and administrative (inclusive of stock-based compensation)	31,707	20,201
Depreciation and amortization	31,854	33,478
Loss on disposal of assets	16,117	13,052
Total costs and expenses	276,949	190,109
OPERATING INCOME (LOSS)	5,731	(28,651)
OTHER INCOME (EXPENSE):
Interest expense	(134)	(176)
Other income (expense)	10,357	1,789
Total other income (expense)	10,223	1,613
INCOME (LOSS) BEFORE INCOME TAXES	15,954	(27,038)
INCOME TAX (EXPENSE) BENEFIT	(4,137)	6,663
NET INCOME (LOSS)	$ 11,817	$ (20,375)
NET INCOME (LOSS) PER COMMON SHARE:
Basic (in dollars per share)	$ 0.11	$ (0.20)
Diluted (in dollars per share)	$ 0.11	$ (0.20)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
Basic (in shares)	103,683	101,550
Diluted (in shares)	105,384	101,550

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 (Accumulated Defecit)
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 income (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, 2021		103,437
Balance at beginning of period at Dec. 31, 2021	826,302	$ 103	844,829	(18,630)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation cost	11,364		11,364
Issuance of equity awards, net (in shares)		562
Issuance of equity awards, net	420	$ 1	419
Tax withholdings paid for net settlement of equity awards	(2,691)		(2,691)
Net income (loss)	11,817			11,817
Balance at end of period (in shares) at Mar. 31, 2022		103,999
Balance at end of period at Mar. 31, 2022	$ 847,212	$ 104	$ 853,921	$ (6,813)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 11,817	$ (20,375)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	31,854	33,478
Deferred income tax expense (benefit)	3,826	(6,663)
Amortization of deferred debt issuance costs	134	134
Stock-based compensation	11,364	2,487
Loss on disposal of assets	16,117	13,052
Changes in operating assets and liabilities:
Accounts receivable	(44,032)	(25,698)
Other current assets	156	325
Inventories	1,653	401
Prepaid expenses	1,707	3,383
Accounts payable	(10,035)	18,579
Accrued and other current liabilities	609	(2,095)
Net cash provided by operating activities	25,170	17,008
CASH FLOWS FROM INVESTING ACTIVITIES:
Capital expenditures	(64,323)	(22,494)
Proceeds from sale of assets	275	224
Net cash used in investing activities	(64,048)	(22,270)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of insurance financing	0	(2,037)
Proceeds from exercise of equity awards	419	0
Tax withholdings paid for net settlement of equity awards	(2,691)	(5,614)
Net cash used in financing activities	(2,272)	(7,651)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	(41,150)	(12,913)
CASH AND CASH EQUIVALENTS - Beginning of period	111,918	68,772
CASH AND CASH EQUIVALENTS - End of period	$ 70,768	$ 55,859

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
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, 2021, 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 reservation or idle fee charges if a customer were to reserve or idle committed hydraulic fracturing equipment. The Company recognizes revenue related to idle or reservation fee charges on a daily basis or monthly 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 obligatio n , s atisfied at a point-in-time, upon completion of the contracted service or sale of the acid or chemical when control is transferred to the customer. Jobs for these services are typically short term in nature, with most jobs completed in less than a day. We recognize acidizing revenue at a point-in-time, upon completion of the performance obligation. Our cementing services use pressure pumping equipment to deliver a slurry of liquid cement that is pumped down a well between the casing and the borehole. Our cementing contracts have one performance obligation, satisfied at a point-in-time, upon completion of the contracted service when control is transferred to the customer. Jobs for these services are typically short term in nature, with most jobs completed in less than a day. We recognize cementing revenue at a point-in-time, upon completion of the performance obligation. The transaction price for each performance obligation for all our pressure pumping services is fixed per our contracts with our customers. All Other — All other consists of coiled tubing operations, which are downhole well completion/remedial services. The performance obligation for these services has a fixed transaction price which is satisfied at a point-in-time upon completion of the service when control is transferred to the customer. Accordingly, we recognize revenue at a point-in-time, upon completion of the service and transfer of control to the customer. Accounts Receivable Accounts receivables are stated at the amount billed and billable to customers. At March 31, 2022, and December 31, 2021, accrued revenue (unbilled receivable) included as part of our accounts receivable was $70.6 million and $19.4 million, respectively. At March 31, 2022, the transaction price allocated to the remaining performance obligation for our partially completed hydraulic fracturing operations was $35.5 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 March 31, 2022, 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 in the oil and gas industry. We evaluated the historic loss experience on our accounts receivable and also separately considered customers with receivable balances that could be negatively impacted by current economic developments and market conditions. While the Company has not experienced significant credit losses in the past and has not yet seen material changes to the payment patterns of its customers, the Company cannot predict with any certainty the degree to which the impacts of the COVID-19 pandemic, including the potential impact of periodically adjusted borrowing base limits, level of hedged production, or unforeseen well shut-downs may affect the ability of its customers to timely pay receivables when due. Accordingly, in future periods, the Company may revise its estimates of expected credit losses. The table below shows a summary of allowance for credit losses during the three months ended March 31, 2022: (in thousands) Balance - January 1, 2022 $ 217 Provision for credit losses during the period — Write-off during the period — Balance - March 31, 2022 $ 217

Recently Issued Accounting Stan

Recently Issued Accounting Standards	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting StandardsRecently Issued Accounting Standards Adopted in 2022 In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU No. 2020-04, Reference Rate Reform

Fair Value Measurement

Fair Value Measurement	3 Months Ended
	Mar. 31, 2022
Fair Value Disclosures [Abstract]
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 March 31, 2022 and December 31, 2021, approximated or equaled their carrying values as reflected in our condensed consolidated balance sheets. Assets Measured at Fair Value on a Nonrecurring Basis No assets were measured at fair value on a nonrecurring basis as of March 31, 2022 and December 31, 2021, respectively. No impairment of property and equipment was recorded during the three months ended March 31, 2022 and 2021. Our DuraStim® equipment is yet to be commercialized. If we are not able to successfully commercialize the DuraStim® equipment, and are not able to deploy the equipment for alternative uses, we will incur impairment losses on the carrying value of the DuraStim® equipment. As of March 31, 2022 , the carrying value of our DuraStim® equipment is approximately $88 million.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Asset-Based Loan ("ABL") Credit Facility Our revolving credit facility, as amended in 2018, had a total borrowing capacity of $300.0 million (subject to the borrowing base limit), with a maturity date of December 19, 2023. The revolving credit facility had a borrowing base of 85% of monthly eligible accounts receivable less customary reserves, as redetermined monthly. The borrowing base under our revolving credit facility, as amended in 2018, was $60.1 million as of March 31, 2022. The revolving credit facility, included a springing fixed charge coverage ratio to apply when excess availability was less than the greater of (i) 10% of the lesser of the facility size or the borrowing base or (ii) $22.5 million. Borrowings under this revolving credit facility accrued interest based on a three-tier pricing grid tied to availability, and we had the option to elect for loans to be based on either LIBOR or base rate, plus the applicable margin, which ranged 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. Effectiv e April 13, 2022, the Company entered into an amendment of its revolving credit facility (as amended and restated, "ABL Credit Facility"). The ABL Credit Facility decreased t he borrowing capacity to $150.0 million (subject to the Borrowing Base (as defined below) limit), with a maturity date extended to April 13, 2027. The ABL Credit Facility has a borrowing base of 85% to 90%, dep ending on the credit ratings of our accounts receivable counterparties, of monthly eligible accounts receivable less customary reserves (the "Borrowing Base"), as redetermined monthly. The Borrowing Base as of April 30, 2022, was approximately $86.6 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) $10.0 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 the Secured Overnight Financing Rate ("SOFR") or the base rate, plus the applicable margin, which ranges from 1.50% to 2.00% for SOFR loans and 0.50% to 1.00% for base rate loans. 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 revolving credit facility as of March 31, 2022 and December 31, 2021.

Reportable Segment Information

Reportable Segment Information	3 Months Ended
	Mar. 31, 2022
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 December 2021, the Company disposed of two turbine generators included in our pressure pumping reportable segment for total cash proceeds of approximately $36.0 million. The net book value of the two turbines prior to the disposal was approximately $39.5 million, resulting in loss on disposal of approximately $3.5 million. 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 months ended March 31, 2022 and 2021 was $17.3 million and $5.0 million , respectively. Our hydraulic fracturing operating segment revenue approxima ted 93.6% and 93.3% o f our pressure pumping revenue during the three months ended March 31, 2022 and 2021, respectively. Inter-segment revenues are not material and are not shown separately in the table below. The Company manages and assesses the performance of the reportable segment by its adjusted EBITDA (earnings before other income (expense), interest expense, income taxes, depreciation and amortization, stock-based compensation expense, severance and related expense, impairment expense, (gain)/loss on disposal of assets and other unusual or nonrecurring expenses or (income)). A reconciliation from segment level financial information to the consolidated statement of operations is provided in the table below (in thousands): Three Months Ended March 31, 2022 Pressure Pumping All Other Total Service revenue $ 277,112 $ 5,568 $ 282,680 Adjusted EBITDA $ 76,995 $ (10,462) $ 66,533 Depreciation and amortization $ 30,930 $ 924 $ 31,854 Capital expenditures $ 71,602 $ 126 $ 71,728 Total assets at March 31, 2022 $ 1,047,878 $ 36,573 $ 1,084,451 Three Months Ended March 31, 2021 Pressure Pumping All Other Total Service revenue $ 158,191 $ 3,267 $ 161,458 Adjusted EBITDA $ 31,870 $ (11,853) $ 20,017 Depreciation and amortization $ 32,513 $ 965 $ 33,478 Capital expenditures $ 30,023 $ 2,305 $ 32,328 Total assets at December 31, 2021 $ 1,023,037 $ 38,199 $ 1,061,236 Reconciliation of net income (loss) to adjusted EBITDA (in thousands): Three Months Ended March 31, 2022 Pressure Pumping All Other Total Net income (loss) $ 29,370 $ (17,553) $ 11,817 Depreciation and amortization 30,930 924 31,854 Interest expense — 134 134 Income tax expense — 4,137 4,137 Loss (gain) on disposal of assets 16,421 (304) 16,117 Stock-based compensation — 11,364 11,364 Other income (2) — (10,357) (10,357) Other general and administrative expense (1) 274 1,193 1,467 Adjusted EBITDA $ 76,995 $ (10,462) $ 66,533 Three Months Ended March 31, 2021 Pressure Pumping All Other Total Net loss $ (13,675) $ (6,700) $ (20,375) Depreciation and amortization 32,513 965 33,478 Interest expense — 176 176 Income tax benefit — (6,663) (6,663) Loss on disposal of assets 13,032 20 13,052 Stock-based compensation — 2,487 2,487 Other income — (1,789) (1,789) Other general and administrative expense, (net) (1) — (961) (961) Severance expense — 612 612 Adjusted EBITDA $ 31,870 $ (11,853) $ 20,017 (1) Other general and administrative expense, (net of reimbursement from insurance carriers) primarily relates to nonrecurring professional fees paid to external consultants in connection with our audit committee review, SEC investigation and shareholder litigation, net of insurance recoveries. During the three months ended March 31, 2022 and 2021, we received reimbursement of approximately $1.0 million and $1.6 million , respectively, from our insurance carriers in connection with the SEC investigation and shareholder litigation. (2) Includes $10.7 million of net tax refund (net of advisory fees) received from the Texas Comptroller of Public Accounts in connection with limited sales, excise, and use tax beginning July 1, 2015 through December 31, 2018.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share Basic net income (loss) per common share is computed by dividing the net income (loss) relevant to the common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share uses the same net income (loss) divided by the sum of the weighted average number of shares of common stock outstanding during the period, plus dilutive effects of options, performance and restricted stock units outstanding during the period calculated using the treasury method and the potential dilutive effects of preferred stocks (if any) calculated using the if-converted method. The table below shows the calculations for the three months ended March 31, 2022 and 2021, (in thousands, except for per share data): Three Months Ended March 31, 2022 2021 Numerator (both basic and diluted) Net income (loss) relevant to common stockholders $ 11,817 $ (20,375) Denominator Denominator for basic income (loss) per share 103,683 101,550 Dilutive effect of stock options 186 — Dilutive effect of performance share units 828 — Dilutive effect of restricted stock units 687 — Denominator for diluted income (loss) per share 105,384 101,550 Basic income (loss) per share $ 0.11 $ (0.20) Diluted income (loss) per share $ 0.11 $ (0.20) As shown in the table below, the f ollowing stock options, restricted stock units and performance stock units outstanding as of March 31, 2022 and 2021, respectively, have not been included in the calculation of diluted loss per common share for the three months ended March 31, 2022 and 2021 because they will be anti-dilutive to the calculation of diluted net income (loss) per common share: (In thousands) 2022 2021 Stock options 500 1,912 Restricted stock units 277 1,564 Performance stock units 160 1,480 Total 937 4,956

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Options There were no new stock option grants during the three months ended March 31, 2022. As of March 31, 2022, the aggregate intrinsic value for our outstanding stock options was $2.3 million, and the aggregate intrinsic value for our exercisable stock options was $2.3 million. The aggregate intrinsic value for the exercised stock options during the three months ended March 31, 2022 was approximately $0.8 million. The remaining exercise period for both the outstanding and exercisable stock options as of March 31, 2022 w as 3.4 years. A summary of the stock option activity for the three months ended March 31, 2022 is presented below (in thousands, except for weighted average price): Number of Shares Weighted Outstanding at January 1, 2022 798 $ 9.77 Granted — $ — Exercised (105) $ 4.00 Forfeited — $ — Expired — $ — Outstanding at March 31, 2022 693 $ 10.65 Exercisable at March 31, 2022 693 $ 10.65 Restricted Stock Units During the three months ended March 31, 2022, we granted 560,274 restricted stock units ("RSUs") to employees, officers and directors pursuant to the ProPetro Holding Corp. 2020 Long Term Incentive Plan (the "2020 Incentive Plan"), which generally vest ratably over a three-year vesting period, in the case of awards to employees and officers, and generally vest in full after one year, in the case of awards to directors. RSUs are subject to restrictions on transfer and are generally subject to a risk of forfeiture if the award recipient ceases to be an employee or director of the Company prior to vesting of the award. Each RSU represents the right to receive one share of common stock. The grant date fair value of the RSUs is based on the closing share price of our common stock on the date of grant. As of March 31, 2022, the total unrecognized compensation expense for all RSUs was approximately $11.3 million, and is expected to be recognized over a weighted average period of approximately 2.3 years . On March 31, 2022, the Company modified the RSUs previously granted to a former officer in 2019, 2020 and 2021 to accelerate the vesting of such RSUs in connection with his separation agreement. As a result of this modification, we recorded an incremental stock expense of $1.3 million during the three months ended March 31, 2022. The following table summarizes RSUs activity during the three months ended March 31, 2022 (in thousands, except for weighted average fair value): Number of Weighted Outstanding at January 1, 2022 1,413 $ 9.19 Granted 560 $ 12.44 Vested (737) $ 9.10 Forfeited (2) $ 9.77 Canceled — $ — Outstanding at March 31, 2022 1,234 $ 10.72 Performance Share Units During the three months ended March 31, 2022, we granted 327,939 performance share units ("PSUs") to certain key employees and officers as new awards under the 2020 Incentive Plan. Each PSU earned represents the right to receive either one share of common stock or, as determined by the administrator in its sole discretion, a cash amount equal to fair market value of one share of common stock or amount of cash on the day immediately preceding the settlement date. 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. In connection with a former officer’s separation agreement, on March 31, 2022, the Company modified the PSUs previously granted to such former officer in 2020 and 2021 to provide for deemed satisfaction of the service requirement applicable to such PSUs as of March 31, 2022, such that such PSUs shall remain outstanding and eligible to vest based on our TSR relative to a designated peer group over the applicable performance period. As a result of these modifications, we recorded an incremental stock expense of $3.7 million during the three months ended March 31, 2022. The following table summarizes information about PSUs activity during the three months ended March 31, 2022 (in thousands, except for weighted average fair value): Period Target Shares Outstanding at January 1, 2022 Target Target Shares Vested Target Target Shares Outstanding at March 31, 2022 Weighted 2019 126 — (126) — — $ 27.49 2020 809 — — — 809 $ 8.30 2021 651 — — — 651 $ 14.76 2022 — 328 — — 328 $ 19.99 Total 1,586 328 (126) — 1,787 $ 12.80 Weighted Average FV Per Share $ 12.48 $ 19.99 $ 27.49 $ — $ 12.80 The total stock-based compensation expense for the three months ended March 31, 2022 and 2021 for all stock awards was $11.4 million and $2.5 million, respectively. The total unrecognized stock-based compensation expense as of March 31, 2022 was approximately $24.9 million, an

Related-Party Transactions

Related-Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions Operations and Maintenance Yards The Company rents 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. 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. On March 31, 2022, we entered into an amended and restated pressure pumping services agreement (the "A&R Pressure Pumping Services Agreement"), which was initially entered into in connection with the Pioneer Pressure Pumping Acquisition. The A&R Pressure Pumping Services Agreement was effective January 1, 2022 and continues through December 31, 2022. The A&R Pressure Pumping Services Agreement reduced the number of contracted fleets to six fleets from eight fleets, modified the pressure pumping scope of work and pricing mechanism for contracted fleets, and replaced the idle fees arrangement with equipment reservation fees (the "Reservation fees"). As part of the Reservation fees arrangement, the Company will be entitled to receive compensation for all eligible contracted fleets that are made available to Pioneer at the beginning of every quarter in 2022 through the term of the A&R Pressure Pumping Services Agreement. Revenue from services provided to Pioneer (including idle fees and Reservation fees) accounted for approximate ly $123.5 million and $86.3 million of our total revenue during the three months ended March 31, 2022 and 2021, respectively. As of March 31, 2022, the total accounts receivable due from Pioneer, including estimated unbilled receivable for services we provided, amounted to approxim ately $79.3 million a nd the amount due to Pioneer wa s $0. As of December 31, 2021, the balance due from Pioneer for services we provided amounted to approximately $62.1 million and the amount due to Pioneer was $0.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
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. During the three months ended March 31, 2022 and 2021, the Company made lease payments of approximate ly $0.1 million a nd $0.1 million, respectively. The assets and liabilities under this contract are equally allocated between our cementing and coiled tubing segments. In addition to the contractual lease period, the contract includes an optional renewal of up to ten years, and in management's judgment the exercise of the renewal option is not reasonably assured. The contract does not include a residual value guarantee, covenants or financial restrictions. Further, the Real Estate Lease does not contain variability in payments resulting from either an index change or rate change. We accounted for our Real Estate Lease as an operating lease. This conclusion resulted from the existence of the right to control the use of the assets throughout the lease term. We did not account for the land separately from the building of the Real Estate Lease because we concluded that the accounting effect was insignificant. As of March 31, 2022, the weighted average discount rate and remaining lease term was approximately 6.7% and 1.0 year, res pectively. As part of our expansion of our hydraulic fracturing equipment maintenance program, we entered into a two year maintenance facility real estate lease contract (the "Maintenance Facility Lease") with a commencement date of March 14, 2022. During the three months ended March 31, 2022, the Company made lease payments of approximately $0.03 million. In addition to the contractual lease period, the contract includes an optional renewal for three additional periods of one year each, 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 Maintenance Facility Lease does not contain variability in payments resulting from either an index change or rate change. We accounted for our Maintenance Facility Lease as 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 Maintenance Facility Lease because we concluded that the accounting effect was insignificant. As of March 31, 2022, the weighted average discount rate and remaining lease term was approximately 3.4% and 1.9 years, respectively. As of March 31, 2022, the total operating lease right-of-use asset cost was approximately $1.9 million, and accumulated amortization was approximately $0.9 million. As of December 31, 2021, our total operating lease right-of-use asset cost was approximately $1.2 million, and accumulat ed amortization was approximately $0.8 million. For the three months ended March 31, 2022 and 2021, we recorded operating lease cost of approximatel y $0.1 million and $0.1 million, respectively, in our statement of operations. Maturity Analysis of Lease Liabilities The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our operating lease as of March 31, 2022 are as follows: ($ in thousands) Totals 2022 $ 540 2023 398 2024 50 Total undiscounted future lease payments 988 Less: amount representing interest (33) Present value of future lease payments (lease obligation) $ 955 The total cash paid for amounts included in the measurement of our operating lease liability during the three months ended March 31, 2022 was approximatel y $0.1 million. The non-cash lease obligation we recorded upon execution of the Maintenance Facility Lease was approximately $0.6 million. During the three months ended March 31, 2021, total cash paid for amounts included in the measurement of our operating lease liability was approximately $0.1 million. 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 three months ended March 31, 2022 and 2021 our short-term lease expense was approximatel y $0.2 million
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. During the three months ended March 31, 2022 and 2021, the Company made lease payments of approximate ly $0.1 million a nd $0.1 million, respectively. The assets and liabilities under this contract are equally allocated between our cementing and coiled tubing segments. In addition to the contractual lease period, the contract includes an optional renewal of up to ten years, and in management's judgment the exercise of the renewal option is not reasonably assured. The contract does not include a residual value guarantee, covenants or financial restrictions. Further, the Real Estate Lease does not contain variability in payments resulting from either an index change or rate change. We accounted for our Real Estate Lease as an operating lease. This conclusion resulted from the existence of the right to control the use of the assets throughout the lease term. We did not account for the land separately from the building of the Real Estate Lease because we concluded that the accounting effect was insignificant. As of March 31, 2022, the weighted average discount rate and remaining lease term was approximately 6.7% and 1.0 year, res pectively. As part of our expansion of our hydraulic fracturing equipment maintenance program, we entered into a two year maintenance facility real estate lease contract (the "Maintenance Facility Lease") with a commencement date of March 14, 2022. During the three months ended March 31, 2022, the Company made lease payments of approximately $0.03 million. In addition to the contractual lease period, the contract includes an optional renewal for three additional periods of one year each, 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 Maintenance Facility Lease does not contain variability in payments resulting from either an index change or rate change. We accounted for our Maintenance Facility Lease as 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 Maintenance Facility Lease because we concluded that the accounting effect was insignificant. As of March 31, 2022, the weighted average discount rate and remaining lease term was approximately 3.4% and 1.9 years, respectively. As of March 31, 2022, the total operating lease right-of-use asset cost was approximately $1.9 million, and accumulated amortization was approximately $0.9 million. As of December 31, 2021, our total operating lease right-of-use asset cost was approximately $1.2 million, and accumulat ed amortization was approximately $0.8 million. For the three months ended March 31, 2022 and 2021, we recorded operating lease cost of approximatel y $0.1 million and $0.1 million, respectively, in our statement of operations. Maturity Analysis of Lease Liabilities The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our operating lease as of March 31, 2022 are as follows: ($ in thousands) Totals 2022 $ 540 2023 398 2024 50 Total undiscounted future lease payments 988 Less: amount representing interest (33) Present value of future lease payments (lease obligation) $ 955 The total cash paid for amounts included in the measurement of our operating lease liability during the three months ended March 31, 2022 was approximatel y $0.1 million. The non-cash lease obligation we recorded upon execution of the Maintenance Facility Lease was approximately $0.6 million. During the three months ended March 31, 2021, total cash paid for amounts included in the measurement of our operating lease liability was approximately $0.1 million. 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 three months ended March 31, 2022 and 2021 our short-term lease expense was approximatel y $0.2 million

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
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 operations 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. At March 31, 2022, the total remaining lease commitments for all of our short-term leases and lodging commitments was approximately $3.1 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 either a fixed percentage of the purchase price for the minimum volumes or 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 three months ended March 31, 2022 and 2021, 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. As of March 31, 2022, the Company had issued letters of credit of approximately $4.2 million u nder the revolving credit facility in connection with the Company’s casualty insurance policy. Effective April 13, 2022, the Company's issued letters of credit increased to approximately $5.0 million under 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. On September 13, 2021, the Court partially granted and partially denied the motions to dismiss filed by the Company and the individual defendants. Discovery is still ongoing. 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. On September 15, 2021, the Court granted the Company's motion to dismiss the complaint in its entirety, without prejudice. On November 19, 2021, the Company received a demand letter from a law firm representing a purported shareholder of the Company that previously filed the dismissed Shareholder Derivative Lawsuit. The demand letter alleged facts and claims substantially similar to the Shareholder Derivative Lawsuit. The Company's board of directors (the "Board") has constituted a committee to evaluate the demand letter and recommend a course of action to the Board, and the committee has retained counsel to assist with its review. The committee’s review is ongoing. We are presently unable to predict the duration, scope or result of the Logan Lawsuit, or any other related lawsuit or investigation. As of March 31, 2022, no provision was made by the Company in connection with this pending lawsuit 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. No accrual was recorded in our financial statements in connection with this self-insurance strategy. Regulatory Audits In 2020, the Texas Comptroller of Public Accounts (the "Comptroller") 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 March 31, 2022, the audit is still ongoing and the final outcome cannot be reasonably estimated. In January 2022, we entered into a settlement agreement with the Comptroller for a $10.7 million tax refund, net of consulting fees, in connection with certain limited sales, excise and use tax for the audit period July 1, 2015 through December 31, 2018. The net refund to the Company of $10.7 million was recorded as part of other income in our statement of operations during the three months ended March 31, 2022 . During the three months ended March 31, 2021, we recorded net refund of approximately $2.1 million.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2022
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, 2021, 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 reservation or idle fee charges if a customer were to reserve or idle committed hydraulic fracturing equipment. The Company recognizes revenue related to idle or reservation fee charges on a daily basis or monthly 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 obligatio n , s atisfied 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 March 31, 2022, 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 in the oil and gas industry. We evaluated the historic loss experience on our accounts receivable and also separately considered customers with receivable balances that could 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 StandardsRecently Issued Accounting Standards Adopted in 2022 In March 2020, the Financial Accounting Standards Board ("FASB") issued ASU No. 2020-04, Reference Rate Reform
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 March 31, 2022 and December 31, 2021, approximated or equaled their carrying values as reflected in our condensed consolidated balance sheets.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Summary of Allowance for Credit Losses	The table below shows a summary of allowance for credit losses during the three months ended March 31, 2022: (in thousands) Balance - January 1, 2022 $ 217 Provision for credit losses during the period — Write-off during the period — Balance - March 31, 2022 $ 217

Reportable Segment Information

Reportable Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Reconciliation of Segment Information	A reconciliation from segment level financial information to the consolidated statement of operations is provided in the table below (in thousands): Three Months Ended March 31, 2022 Pressure Pumping All Other Total Service revenue $ 277,112 $ 5,568 $ 282,680 Adjusted EBITDA $ 76,995 $ (10,462) $ 66,533 Depreciation and amortization $ 30,930 $ 924 $ 31,854 Capital expenditures $ 71,602 $ 126 $ 71,728 Total assets at March 31, 2022 $ 1,047,878 $ 36,573 $ 1,084,451 Three Months Ended March 31, 2021 Pressure Pumping All Other Total Service revenue $ 158,191 $ 3,267 $ 161,458 Adjusted EBITDA $ 31,870 $ (11,853) $ 20,017 Depreciation and amortization $ 32,513 $ 965 $ 33,478 Capital expenditures $ 30,023 $ 2,305 $ 32,328 Total assets at December 31, 2021 $ 1,023,037 $ 38,199 $ 1,061,236 Reconciliation of net income (loss) to adjusted EBITDA (in thousands): Three Months Ended March 31, 2022 Pressure Pumping All Other Total Net income (loss) $ 29,370 $ (17,553) $ 11,817 Depreciation and amortization 30,930 924 31,854 Interest expense — 134 134 Income tax expense — 4,137 4,137 Loss (gain) on disposal of assets 16,421 (304) 16,117 Stock-based compensation — 11,364 11,364 Other income (2) — (10,357) (10,357) Other general and administrative expense (1) 274 1,193 1,467 Adjusted EBITDA $ 76,995 $ (10,462) $ 66,533 Three Months Ended March 31, 2021 Pressure Pumping All Other Total Net loss $ (13,675) $ (6,700) $ (20,375) Depreciation and amortization 32,513 965 33,478 Interest expense — 176 176 Income tax benefit — (6,663) (6,663) Loss on disposal of assets 13,032 20 13,052 Stock-based compensation — 2,487 2,487 Other income — (1,789) (1,789) Other general and administrative expense, (net) (1) — (961) (961) Severance expense — 612 612 Adjusted EBITDA $ 31,870 $ (11,853) $ 20,017 (1) Other general and administrative expense, (net of reimbursement from insurance carriers) primarily relates to nonrecurring professional fees paid to external consultants in connection with our audit committee review, SEC investigation and shareholder litigation, net of insurance recoveries. During the three months ended March 31, 2022 and 2021, we received reimbursement of approximately $1.0 million and $1.6 million , respectively, from our insurance carriers in connection with the SEC investigation and shareholder litigation. (2) Includes $10.7 million of net tax refund (net of advisory fees) received from the Texas Comptroller of Public Accounts in connection with limited sales, excise, and use tax beginning July 1, 2015 through December 31, 2018.

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Calculations of Net Loss Per Share	The table below shows the calculations for the three months ended March 31, 2022 and 2021, (in thousands, except for per share data): Three Months Ended March 31, 2022 2021 Numerator (both basic and diluted) Net income (loss) relevant to common stockholders $ 11,817 $ (20,375) Denominator Denominator for basic income (loss) per share 103,683 101,550 Dilutive effect of stock options 186 — Dilutive effect of performance share units 828 — Dilutive effect of restricted stock units 687 — Denominator for diluted income (loss) per share 105,384 101,550 Basic income (loss) per share $ 0.11 $ (0.20) Diluted income (loss) per share $ 0.11 $ (0.20)
Schedule of Antidilutive Securities	As shown in the table below, the f ollowing stock options, restricted stock units and performance stock units outstanding as of March 31, 2022 and 2021, respectively, have not been included in the calculation of diluted loss per common share for the three months ended March 31, 2022 and 2021 because they will be anti-dilutive to the calculation of diluted net income (loss) per common share: (In thousands) 2022 2021 Stock options 500 1,912 Restricted stock units 277 1,564 Performance stock units 160 1,480 Total 937 4,956

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Share-based Payment Arrangement [Abstract]
Summary of Stock Options Activity	A summary of the stock option activity for the three months ended March 31, 2022 is presented below (in thousands, except for weighted average price): Number of Shares Weighted Outstanding at January 1, 2022 798 $ 9.77 Granted — $ — Exercised (105) $ 4.00 Forfeited — $ — Expired — $ — Outstanding at March 31, 2022 693 $ 10.65 Exercisable at March 31, 2022 693 $ 10.65
Summary of RSUs Activity	The following table summarizes RSUs activity during the three months ended March 31, 2022 (in thousands, except for weighted average fair value): Number of Weighted Outstanding at January 1, 2022 1,413 $ 9.19 Granted 560 $ 12.44 Vested (737) $ 9.10 Forfeited (2) $ 9.77 Canceled — $ — Outstanding at March 31, 2022 1,234 $ 10.72
Summary of Performance Shares Activity	The following table summarizes information about PSUs activity during the three months ended March 31, 2022 (in thousands, except for weighted average fair value): Period Target Shares Outstanding at January 1, 2022 Target Target Shares Vested Target Target Shares Outstanding at March 31, 2022 Weighted 2019 126 — (126) — — $ 27.49 2020 809 — — — 809 $ 8.30 2021 651 — — — 651 $ 14.76 2022 — 328 — — 328 $ 19.99 Total 1,586 328 (126) — 1,787 $ 12.80 Weighted Average FV Per Share $ 12.48 $ 19.99 $ 27.49 $ — $ 12.80

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Operating Lease Maturity	The maturity analysis of liabilities and reconciliation to undiscounted and discounted remaining future lease payments for our operating lease as of March 31, 2022 are as follows: ($ in thousands) Totals 2022 $ 540 2023 398 2024 50 Total undiscounted future lease payments 988 Less: amount representing interest (33) Present value of future lease payments (lease obligation) $ 955

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)segment	Dec. 31, 2021USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Number of reportable segments | segment	1
Contract with customer, asset, net	$ 70,600	$ 19,400
Allowance for credit losses during the period	217	$ 217
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Revenue, remaining performance obligation	$ 35,500
Revenue, remaining performance obligation, expected timing of satisfaction	1 month

Basis of Presentation - Allowan

Basis of Presentation - Allowance for Credit Losses (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 217
Provision for credit losses during the period	0
Write-off during the period	0
Ending balance	$ 217

Fair Value Measurement (Details

Fair Value Measurement (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Impairment of property and equipment	$ 0	$ 0
Carrying value of DuraStim equipment	$ 88,000,000

Long-Term Debt (Details)

Long-Term Debt (Details) - USD ($)	Apr. 13, 2022	Dec. 31, 2018	Apr. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
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 CreditFacility | Line of Credit
Debt Instrument [Line Items]
Borrowing capacity				$ 0	$ 0
ABL CreditFacility | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 300,000,000
Borrowing base, accounts receivable percentage		85.00%
Borrowing base				$ 60,100,000
ABL CreditFacility | Revolving Credit Facility | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 150,000,000
Borrowing base			$ 86,600,000
Coverage ratio establishing threshold, option one, percentage of facility size and borrowing base	10.00%
Coverage ratio establishing threshold, option two, amount	$ 10,000,000
Minimum | ABL CreditFacility | Revolving Credit Facility | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Borrowing base, accounts receivable percentage	85.00%
Maximum | ABL CreditFacility | Revolving Credit Facility | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Borrowing base, accounts receivable percentage	90.00%
LIBOR Loans | ABL CreditFacility | Revolving Credit Facility | Line of Credit
Debt Instrument [Line Items]
Basis spread on variable rate, floor		0.00%
LIBOR Loans | Minimum | ABL CreditFacility
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
LIBOR Loans | Maximum | ABL CreditFacility
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
Base Rate Loans | Minimum | ABL CreditFacility
Debt Instrument [Line Items]
Basis spread on variable rate		0.75%
Base Rate Loans | Minimum | ABL CreditFacility | Revolving Credit Facility | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate	0.50%
Base Rate Loans | Maximum | ABL CreditFacility
Debt Instrument [Line Items]
Basis spread on variable rate		1.25%
Base Rate Loans | Maximum | ABL CreditFacility | Revolving Credit Facility | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate	1.00%
SOFR Loans | Minimum | ABL CreditFacility | Revolving Credit Facility | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
SOFR Loans | Maximum | ABL CreditFacility | Revolving Credit Facility | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%

Reportable Segment Informatio_2

Reportable Segment Information - Narrative (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Dec. 31, 2021USD ($)turbine	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)
Revenue, Major Customer [Line Items]
Number of operating segments | segment		3
Loss on disposal of assets		$ 16,117	$ 13,052
Number of reportable segments | segment		1
Administrative fees expense		$ 17,300	5,000
Pressure Pumping
Revenue, Major Customer [Line Items]
Loss on disposal of assets		$ 16,421	$ 13,032
Pressure Pumping | Revenue from Contract with Customer, Product and Service Benchmark | Service Concentration Risk
Revenue, Major Customer [Line Items]
Concentration risk		93.60%	93.30%
Discontinued Operations, Disposed of by Sale | Pressure Pumping
Revenue, Major Customer [Line Items]
Number of turbines | turbine	2
Proceeds from divestiture of businesses	$ 36,000
Disposal group, including discontinued operation, assets	39,500
Loss on disposal of assets	$ 3,500

Reportable Segment Informatio_3

Reportable Segment Information - Reconciliation of Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Service revenue	$ 282,680	$ 161,458
Adjusted EBITDA	66,533	20,017
Depreciation and amortization	31,854	33,478
Capital expenditures	71,728	32,328
Total assets	1,084,451		$ 1,061,236
Pressure Pumping
Segment Reporting Information [Line Items]
Service revenue	277,112	158,191
Adjusted EBITDA	76,995	31,870
Depreciation and amortization	30,930	32,513
Capital expenditures	71,602	30,023
Total assets	1,047,878		1,023,037
All Other
Segment Reporting Information [Line Items]
Service revenue	5,568	3,267
Adjusted EBITDA	(10,462)	(11,853)
Depreciation and amortization	924	965
Capital expenditures	126	$ 2,305
Total assets	$ 36,573		$ 38,199

Reportable Segment Informatio_4

Reportable Segment Information - Reconciliation of Segment Information EBITDA (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Net income (loss)	$ 11,817	$ (20,375)
Depreciation and amortization	31,854	33,478
Interest expense	134	176
Income tax expense	4,137	(6,663)
Loss (gain) on disposal of assets	16,117	13,052
Stock-based compensation	11,364	2,487
Other income	(10,357)	(1,789)
Other general and administrative expense, (net)	1,467	(961)
Severance expense		612
Adjusted EBITDA	66,533	20,017
Insurance recoveries	1,000	1,600
Net tax refund received	10,700
Pressure Pumping
Segment Reporting Information [Line Items]
Net income (loss)	29,370	(13,675)
Depreciation and amortization	30,930	32,513
Interest expense	0	0
Income tax expense	0	0
Loss (gain) on disposal of assets	16,421	13,032
Stock-based compensation	0	0
Other income	0	0
Other general and administrative expense, (net)	274	0
Severance expense		0
Adjusted EBITDA	76,995	31,870
All Other
Segment Reporting Information [Line Items]
Net income (loss)	(17,553)	(6,700)
Depreciation and amortization	924	965
Interest expense	134	176
Income tax expense	4,137	(6,663)
Loss (gain) on disposal of assets	(304)	20
Stock-based compensation	11,364	2,487
Other income	(10,357)	(1,789)
Other general and administrative expense, (net)	1,193	(961)
Severance expense		612
Adjusted EBITDA	$ (10,462)	$ (11,853)

Net Income (Loss) Per Share (De

Net Income (Loss) Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Numerator (both basic and diluted)
Net income (loss) relevant to common stockholders	$ 11,817	$ (20,375)
Denominator
Denominator for basic income (loss) per share (in shares)	103,683	101,550
Denominator for diluted income (loss) per share (in shares)	105,384	101,550
Basic income (loss) per share (in dollars per share)	$ 0.11	$ (0.20)
Diluted income (loss) per share (in dollars per share)	$ 0.11	$ (0.20)
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	937	4,956
Stock options
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	500	1,912
Restricted stock units
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	277	1,564
Performance stock units
Denominator
Antidilutive securities excluded from computation of earnings per share, amount (in shares)	160	1,480
Stock options
Denominator
Dilutive effect of share based payment (in shares)	186	0
Performance stock units
Denominator
Dilutive effect of share based payment (in shares)	828	0
Restricted stock units
Denominator
Dilutive effect of share based payment (in shares)	687	0

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options, granted (in shares)	0
Options, outstanding, intrinsic value	$ 2.3
Options, exercisable, intrinsic value	2.3
Options, exercised, intrinsic value	$ 0.8
Term for outstanding stock	3 years 4 months 24 days
Term for exercisable stock	3 years 4 months 24 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment arrangement, expense	$ 1.3
Performance stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	327,939
Vesting period	3 years
Share-based payment arrangement, expense	$ 3.7
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	$ 24.9
Compensation cost not yet recognized, period for recognition	2 years 2 months 12 days
Tax benefit from compensation expense	$ 11.4	$ 2.5
Incentive Award Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	560,274
Restricted stock units, conversion of stock, conversion rights (in shares)	1
Compensation not yet recognized, stock options	$ 11.3
Compensation cost not yet recognized, period for recognition	2 years 3 months 18 days
Employees and Officers | Incentive Award Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Director | Incentive Award Plan | Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of Stock Option Activity (Details)	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Number of Shares
Outstanding beginning balance (in shares) | shares	798,000
Granted (in shares) | shares	0
Exercised (in shares) | shares	(105,000)
Forfeited (in shares) | shares	0
Expired (in shares) | shares	0
Outstanding ending balance (in shares) | shares	693,000
Exercisable ending balance (in shares) | shares	693,000
Weighted Average Exercise Price
Outstanding beginning balance (in dollars per share) | $ / shares	$ 9.77
Granted (in dollars per share) | $ / shares	0
Exercised (in dollars per share) | $ / shares	4
Forfeited (in dollars per share) | $ / shares	0
Expired (in dollars per share) | $ / shares	0
Outstanding ending balance (in dollars per share) | $ / shares	10.65
Exercisable ending balance (in dollars per share) | $ / shares	$ 10.65

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of RSU Activity (Details) - Restricted stock units shares in Thousands	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Number of Shares
Outstanding beginning balance (in shares) | shares	1,413
Vested (in shares) | shares	(737)
Forfeited (in shares) | shares	(2)
Canceled (in shares) | shares	0
Outstanding ending balance (in shares) | shares	1,234
Weighted Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share)	$ 9.19
Granted (in dollars per share)	12.44
Vested (in dollars per share)	9.10
Forfeited (in dollars per share)	9.77
Canceled (in dollars per share)	0
Outstanding ending balance (in dollars per share)	$ 10.72

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of Performance Shares Activity (Details) - Performance stock units	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding beginning balance (in shares)	1,586,000
Target Shares Granted (in shares)	327,939
Target Shares Vested (in shares)	(126,000)
Target Shares Forfeited (in shares)	0
Outstanding ending balance (in shares)	1,787,000
Weighted Average FV Per Share
Outstanding beginning balance (in dollars per share) | $ / shares	$ 12.48
Granted (in dollars per share) | $ / shares	19.99
Vested (in dollars per share) | $ / shares	27.49
Forfeited (in dollars per share) | $ / shares	0
Outstanding ending balance (in dollars per share) | $ / shares	$ 12.80
2019
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)	(126,000)
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	$ 27.49
2020
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
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding beginning balance (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
2022
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)	328,000
Target Shares Vested (in shares)	0
Target Shares Forfeited (in shares)	0
Outstanding ending balance (in shares)	328,000
Weighted Average FV Per Share
Outstanding ending balance (in dollars per share) | $ / shares	$ 19.99

Related-Party Transactions (Det

Related-Party Transactions (Details) $ in Thousands	Dec. 31, 2018USD ($)	Mar. 31, 2022USD ($)propertyfleet	Mar. 31, 2021USD ($)	Mar. 30, 2022fleet	Dec. 31, 2021USD ($)
Related party leasing
Related Party Transaction [Line Items]
Number of properties adjacent to corporate office subject to leases | property		5
Property 1 | Related party leasing
Related Party Transaction [Line Items]
Expenses with related party		$ 30
Property 2 | Related party leasing
Related Party Transaction [Line Items]
Expenses with related party		30
Property 3 | Related party leasing
Related Party Transaction [Line Items]
Expenses with related party		100
Property 4 | Related party leasing
Related Party Transaction [Line Items]
Expenses with related party		100
Property 5 | Related party leasing
Related Party Transaction [Line Items]
Expenses with related party		200
Pioneer and Pioneer Pumping Services
Related Party Transaction [Line Items]
Revenue (including idle fees)		123,500	$ 86,300
Receivable from related parties		79,300			$ 62,100
Payable to related parties		$ 0			$ 0
Pioneer and Pioneer Pumping Services | Asset acquisition
Related Party Transaction [Line Items]
Common stock consideration	$ 16,600
Cash received from acquisition	$ 110,000
A&R Pressure Pumping Services Agreement | Asset acquisition
Related Party Transaction [Line Items]
Number of contracted fleets | fleet		6		8

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)period	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)	Mar. 31, 2013
Operating Leases
Cash paid for operating lease	$ 100	$ 100
Discount rate	6.70%
Lease term	1 year
ROU asset	$ 1,900		$ 1,200
Accumulated amortization	900		$ 800
Lease expense	100	100
Finance Leases
Payments included in measurement of operating lease liabilities	100	100
Non-cash lease obligation	955
Short-Term Leases
Asset lease	$ 200	$ 200
Real Estate Lease
Operating Leases
Term of contract				10 years
Renewal term (up to)				10 years
Maintenance Facility Lease
Operating Leases
Term of contract	2 years
Cash paid for operating lease	$ 30
Renewal term (up to)	1 year
Discount rate	3.40%
Lease term	1 year 10 months 24 days
Lessee, operating lease, number of additional lease periods | period	3
Finance Leases
Non-cash lease obligation	$ 600

Leases - Operating Lease Maturi

Leases - Operating Lease Maturity (Details) $ in Thousands	Mar. 31, 2022USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2022	$ 540
2023	398
2024	50
Total undiscounted future lease payments	988
Less: amount representing interest	(33)
Present value of future lease payments (lease obligation)	$ 955

Commitments and Contingencies (

Commitments and Contingencies (Details)	1 Months Ended	3 Months Ended
	May 31, 2020lawsuit	Mar. 31, 2022USD ($)	Apr. 13, 2022USD ($)	Jan. 31, 2022USD ($)	Mar. 31, 2021USD ($)
Obligation with Joint and Several Liability Arrangement [Line Items]
Lease commitment		$ 3,100,000
Letters of credit		4,200,000
Subsequent Event
Obligation with Joint and Several Liability Arrangement [Line Items]
Letters of credit			$ 5,000,000
Texas Comptroller of Public Accounts
Obligation with Joint and Several Liability Arrangement [Line Items]
Refund adjustment from settlement with taxing authority				$ 10,700,000	$ 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