Reportable Segment Information

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Reportable Segment Information

Reportable Segment Information

The Company has seven operating segments for which discreet financial information is readily available: hydraulic fracturing, cementing, acidizing, coil tubing, flowback, surface drilling, and Permian drilling. These segments represent how the Chief Operating Decision Maker (CODM) evaluates performance and allocates resources.

In accordance with Accounting Standards Codification (ASC) 280—Segment Reporting, the Company has one reportable segment (pressure pumping) comprised of the hydraulic fracturing, cementing, and acidizing operating segments. All other operating segments and corporate administrative expenses are included in the ‘‘all other’’category in the table below. Inter-segment revenues are not material and are not shown separately in the table below.

The Company manages and assesses the performance of the reportable segment by its adjusted EBITDA (earnings before other income (expense), interest, taxes, depreciation & amortization, stock-based compensation expense, impairment expense, (gain)/loss on disposal of assets, gain on extinguishment of debt and other unusual or nonrecurring expenses or income). A reconciliation from segment level financial information to the consolidated statement of operations is provided in the table below.

	Three months ended September 30, 2017							Nine months ended September 30, 2017
($ in thousands)	Pressure Pumping		All Other			Total		Pressure Pumping		All Other			Total
Service revenue	$	271,924	$	10,806		$	282,730	$	639,355	$	28,798		$	668,153
Adjusted EBITDA	$	50,013	$	(2,245	)	$	47,768	$	98,296	$	(3,641	)	$	94,655
Depreciation and amortization	$	13,637	$	1,108		$	14,745	$	35,228	$	3,374		$	38,602
Goodwill	$	9,425	$	—		$	9,425	$	9,425	$	—		$	9,425
Capital expenditures	$	61,752	$	765		$	62,517	$	203,097	$	3,231		$	206,328
Total assets	$	604,769	$	33,822		$	638,591	$	604,769	$	33,822		$	638,591
	Three months ended September 30, 2016							Nine months ended September 30, 2016
	Pressure Pumping		All Other			Total		Pressure Pumping		All Other			Total
Service revenue	$	109,697	$	7,207		$	116,904	$	251,410	$	21,589		$	272,999
Adjusted EBITDA	$	2,951	$	(1,616	)	$	1,335	$	6,500	$	(4,930	)	$	1,570
Depreciation and amortization	$	9,274	$	1,516		$	10,790	$	27,905	$	4,764		$	32,669
Goodwill	$	9,425	$	1,177		$	10,602	$	9,425	$	1,177		$	10,602
Capital expenditures	$	11,641	$	202		$	11,843	$	21,582	$	312		$	21,894
Total assets at December 31, 2016	$	501,906	$	39,516		$	541,422	$	501,906	$	39,516		$	541,422

Reconciliation of net income (loss) to adjusted EBITDA:

	Three months ended September 30, 2017									Nine months ended September 30, 2017
($ in thousands)	Pressure Pumping			All Other			Total			Pressure Pumping			All Other			Total
Net income (loss)	$	28,372		$	(6,407	)	$	21,965		$	30,087		$	(27,552	)	$	2,535
Depreciation and amortization	13,637			1,108			14,745			35,228			3,374			38,602
Interest expense	—			644			644			—			6,469			6,469
Income tax (benefit) expense	—			(96		)	(96		)	—			128			128
Loss on disposal of assets	7,552			1,190			8,742			27,943			1,028			28,971
Stock-based compensation	—			751			751			—			8,730			8,730
Other expense	—			191			191			—			792			792
Other general and administrative expense (1)	—			149			149			—			722			722
Deferred IPO bonus expense	452			225			677			5,038			2,668			7,706
Adjusted EBITDA	$	50,013		$	(2,245	)	$	47,768		$	98,296		$	(3,641	)	$	94,655
	Three months ended September 30, 2016									Nine months ended September 30, 2016
($ in thousands)	Pressure Pumping			All Other			Total			Pressure Pumping			All Other			Total
Net loss	$	(12,265	)	$	(1,333	)	$	(13,598	)	$	(34,815	)	$	(1,015	)	$	(35,830	)
Depreciation and amortization	9,274			1,516			10,790			27,905			4,764			32,669
Interest expense	—			4,550			4,550			—			15,942			15,942
Income tax benefit	—			(6,946		)	(6,946		)	—			(18,644		)	(18,644		)
(Gain)/loss on disposal of assets	5,942			(19		)	5,923			13,410			(551		)	12,859
Stock-based compensation	—			510			510			—			1,130			1,130
Gain on extinguishment of debt	—			—			—			—			(6,975		)	(6,975		)
Other expense	—			106			106			—			419			419
Adjusted EBITDA	$	2,951		$	(1,616	)	$	1,335		$	6,500		$	(4,930	)	$	1,570

^{(1) Other general and administrative expense relates to legal settlement expense.}