Quarterly report pursuant to Section 13 or 15(d)

Reportable Segment Information - (Tables)

Reportable Segment Information - (Tables)

6 Months Ended

Jun. 30, 2020

A reconciliation from segment level financial information to the consolidated statement of operations is provided in the table below ($ in thousands):




	Three Months Ended June 30, 2020
	Pressure Pumping		All Other			Total
Service revenue	$	103,815	$	2,294		$	106,109
Adjusted EBITDA	$	34,030	$	(8,620	)	$	25,410
Depreciation and amortization	$	38,910	$	1,263		$	40,173
Capital expenditures	$	10,034	$	1,846		$	11,880
Total assets at June 30, 2020	$	1,052,915	$	40,687		$	1,093,602

	Three Months Ended June 30, 2019
	Pressure Pumping		All Other			Total
Service revenue	$	515,867	$	13,627		$	529,494
Adjusted EBITDA	$	131,187	$	(4,625	)	$	126,562
Depreciation and amortization	$	34,023	$	1,459		$	35,482
Goodwill at December 31, 2019	$	9,425	$	—		$	9,425
Capital expenditures	$	156,542	$	4,677		$	161,219
Total assets at December 31, 2019	$	1,381,811	$	54,300		$	1,436,111



	Six Months Ended June 30, 2020
	Pressure Pumping		All Other			Total
Service revenue	$	490,735	$	10,443		$	501,178
Adjusted EBITDA	$	112,696	$	(12,362	)	$	100,334
Depreciation and amortization	$	77,879	$	2,498		$	80,377
Capital expenditures	$	49,301	$	2,674		$	51,975
Total assets at June 30, 2020	$	1,052,915	$	40,687		$	1,093,602

	Six Months Ended June 30, 2019
	Pressure Pumping		All Other			Total
Service revenue	$	1,047,931	$	27,742		$	1,075,673
Adjusted EBITDA	$	282,228	$	(5,391	)	$	276,837
Depreciation and amortization	$	65,806	$	2,793		$	68,599
Goodwill at December 31, 2019	$	9,425	$	—		$	9,425
Capital expenditures	$	238,577	$	8,789		$	247,366
Total assets at December 31, 2019	$	1,381,811	$	54,300		$	1,436,111

Reconciliation of net income (loss) to adjusted EBITDA ($ in thousands):



	Three Months Ended June 30, 2020
	Pressure Pumping			All Other			Total
Net loss	$	(13,528	)	$	(12,392	)	$	(25,920	)
Depreciation and amortization	38,910			1,263			40,173
Interest expense	—			791			791
Income tax benefit	—			(6,460		)	(6,460		)
Loss on disposal of assets	8,587			147			8,734
Stock-based compensation	—			2,962			2,962
Other expense	—			267			267
Other general and administrative expense⁽¹⁾	—			4,802			4,802
Retention bonus and severance expense	61			—			61
Adjusted EBITDA	$	34,030		$	(8,620	)	$	25,410

	Three Months Ended June 30, 2019
	Pressure Pumping			All Other			Total
Net income (loss)	$	64,230		$	(28,097	)	$	36,133
Depreciation and amortization	34,023			1,459			35,482
Interest expense	22			2,004			2,026
Income tax expense	—			10,272			10,272
Loss on disposal of assets	31,117			81			31,198
Stock-based compensation	—			2,840			2,840
Other expense	—			276			276
Other general and administrative expense⁽¹⁾	—			6,540			6,540
Retention bonus expense	1,795			—			1,795
Adjusted EBITDA	$	131,187		$	(4,625	)	$	126,562



	Six Months Ended June 30, 2020
	Pressure Pumping			All Other			Total
Net loss	$	(9,220	)	$	(24,504	)	$	(33,724	)
Depreciation and amortization	77,879			2,498			80,377
Impairment expense	15,559			1,095			16,654
Interest expense	1			2,071			2,072
Income tax benefit	—			(7,370		)	(7,370		)
Loss on disposal of assets	28,402			186			28,588
Stock-based compensation	—			3,433			3,433
Other expense	—			271			271
Other general and administrative expense ⁽¹⁾	—			9,937			9,937
Retention bonus and severance expense	75			21			96
Adjusted EBITDA	$	112,696		$	(12,362	)	$	100,334

	Six Months Ended June 30, 2019
	Pressure Pumping			All Other			Total
Net income (loss)	$	162,324		$	(56,386	)	$	105,938
Depreciation and amortization	65,806			2,793			68,599
Interest expense	22			3,906			3,928
Income tax expense	—			32,164			32,164
Loss on disposal of assets	50,123			302			50,425
Stock-based compensation	—			4,669			4,669
Other expense	—			464			464
Other general and administrative expense ⁽¹⁾	—			6,540			6,540
Deferred IPO and retention bonus expense	$	3,953		$	157		$	4,110
Adjusted EBITDA	$	282,228		$	(5,391	)	$	276,837

(1)

Other general and administrative expense relates to nonrecurring professional fees paid to external consultants in connection with the Company's expanded audit committee review, SEC investigation and shareholders' litigation.