Basis of Presentation and Nature of Operations On October 13, 2016, NexTier Oilfield Solutions Inc. (the Company or NexTier) was formed as Keane Group, Inc. ("Keane"), a Delaware corporation to be a holding corporation for Keane Group Holdings, LLC and its subsidiaries (collectively referred to as Keane Group), for the purpose of facilitating the initial public offering (the IPO) of shares of common stock of the Company. On October 31, 2019, the Company completed its merger (the C&amp;J Merger) with C&amp;J Energy Services, Inc. (C&amp;J) and changed its name to "NexTier Oilfield Solutions Inc." For more details regarding the C&amp;J Merger, refer to Note (3) Mergers and Acquisition s. The accompanying consolidated and combined financial statements were prepared using United States Generally Accepted Accounting Principles (GAAP) and the instructions to Form 10-K and Regulation S-X and include all of the accounts of NexTier and its consolidated subsidiaries. All intercompany transactions and balances have been eliminated. The Companys accounting policies are in accordance with GAAP. The preparation of financial statements in conformity with these accounting principles requires the Company to make estimates and assumptions that affect (1) the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and (2) the reported amounts of revenue and expenses during the reporting period. Ultimate results could differ from the Companys estimates. Significant items subject to such estimates and assumptions include the useful lives of property and equipment and intangible assets; allowances for doubtful accounts; inventory reserves; acquisition accounting; contingent liabilities; and the valuation of property and equipment, intangible assets, equity issued as consideration in an acquisition, income taxes, stock-based incentive plan awards and derivatives. Management believes the consolidated and combined financial statements included herein contain all adjustments necessary to present fairly the Companys financial position as of December 31, 2019 and 2018 and the results of its operations and cash flows for the years ended December 31, 2019 , 2018 and 2017 . Such adjustments are of a normal recurring nature. The consolidated and combined financial statements for the period from January 1, 2017 to July 2, 2017 reflect only the historical results of the Company prior to the completion of the Companys acquisition of RockPile (as defined herein). The consolidated and combined financial statements for the period from January 1, 2019 to October 31, 2019 reflect only the historical results of the Company prior to the completion of the C&amp;J Merger. The financial statements have been prepared using the acquisition method of accounting under existing U.S. GAAP, which requires that one of the two companies in the C&amp;J Merger be designated as the acquirer for accounting purposes. C&amp;J and Keane determined that Keane was the accounting acquirer. Accordingly, consideration given by Keane to complete the C&amp;J Merger was allocated to the underlying tangible and intangible assets and liabilities acquired based on their estimated fair values as of the date of completion of the C&amp;J Merger, with any excess purchase price allocated to goodwill. Earnings per share and weighted-average shares outstanding for the year ended December 31, 2017 have been presented giving pro forma effect to the Organizational Transactions (as defined herein) as if they had occurred on January 1, 2016. Financial results for the years ended December 31, 2017 are the financial results of Keane and Keane Group, the Companys predecessor for accounting purposes, as there was no activity under Keane prior to 2017. (a) Initial Public Offering On January 25, 2017, the Company completed the IPO of 30,774,000 shares of its common stock at the public offering price of $19.00 per share, which included 15,700,000 shares offered by the Company and 15,074,000 shares offered by the selling stockholder, including 4,014,000 shares sold as a result of the underwriters exercise of their overallotment option. The IPO proceeds to the Company, net of underwriters fees and capitalized cash payments of $4.8 million for professional services and other direct IPO related activities, was $255.5 million . The net proceeds were used to fully repay KGH Intermediate Holdco II, LLCs (Holdco II) term loan balance of $99.0 million and the associated prepayment premium of $13.8 million , and to repay $50.0 million of its 12% secured notes due 2019 (Senior Secured Notes) and the associated prepayment premium of approximately $0.5 million . The remaining proceeds were used for general corporate purposes, including capital expenditures, working capital and potential acquisitions and strategic transactions. Upon completion of the IPO and the reorganization, the Company had 103,128,019 shares of common stock outstanding. All underwriting discounts and commissions and other specific costs directly attributable to the IPO were deferred and netted against the gross proceeds of the offering through paid-in capital in excess of par value. (b) Organizational Transactions In connection with the IPO, the Company completed a series of organizational transactions (the Organizational Transactions), including the following:  Certain entities affiliated with Cerberus Capital Management, L.P., certain members of the Keane family, Trican Well Service Ltd. (Trican) and certain members of the Companys management team (collectively, the Existing Owners) contributed all of their direct and indirect equity interests in Keane Group to Keane Investor Holdings LLC (Keane Investor);  Keane Investor contributed all of its equity interests in Keane Group to the Company in exchange for common stock of the Company; and  The Companys independent directors received grants of restricted stock of the Company in substitution for their interests in Keane Group. The Organizational Transactions represented a transaction between entities under common control and were accounted for similarly to pooling of interests in a business combination. The common stock of the Company issued to Keane Investor in exchange for its equity interests in Keane Group was recognized by the Company at the carrying value of the equity interests in Keane Group. In addition, the Company became the successor and Keane Group the predecessor for the purposes of financial reporting. The financial statements for the periods prior to the IPO and Organizational Transactions have been adjusted to combine and consolidate the previously separate entities for presentation purposes. As a result of the Organizational Transactions and the IPO, (i) the Company became a holding company with no material assets other than its ownership of Keane Group, (ii) an aggregate of 72,354,019 shares of the Companys common stock were owned by Keane Investor and certain of the Companys independent directors, and Keane Investor entered into a Stockholders Agreement with the Company, (iii) the Existing Owners became holders of equity interests in the Companys controlling stockholder, Keane Investor (and holders of Keane Groups Class B and Class C Units became holders of Class B and Class C Units in Keane Investor) and (iv) the capital stock of the Company consists of (x) common stock, entitled to one vote per share on all matters submitted to a vote of stockholders and (y) undesignated and unissued preferred stock.