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Stock-based Compensation (Tables) | 12 Months Ended
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Dec. 31, 2024
Share-Based Payment Arrangement [Abstract] |
Schedule of Share-based Compensation Plans | Our share-based compensation plans at December 31, 2024 are as follows:
Plan Name |  | Shares Authorized for Grant |  | Shares Underlying Awards Outstanding |  | Shares Available for Grant
2021 Plan |  | 39,074,510 |  | 6,440,885 |  | 17,520,596
NexTier Plan |  | — |  | 977,011 |  | —
Former C&J Energy Plan |  | — |  | 406,405 |  | —
2014 Plan |  | — |  | 1,719,275 |  | —
Schedule of Stock Option Activity | Stock option activity for the year ended December 31, 2024 follows:
| Shares |  | Weighted Average Exercise Price Per Share
Outstanding at beginning of year | 2,865,223 |  | $ | 23.36 |
Exercised | — |  | $ | — |
Expired | (1,071,218) |  | $ | 25.19 |
Outstanding at end of year | 1,794,005 |  | $ | 22.26 |
Exercisable at end of year | 1,794,005 |  | $ | 22.26 |
Schedule of Additional Information with Respect to Non-vested Options | Additional information with respect to options granted, vested and exercised during the years ended December 31, 2024, 2023 and 2022 follows (in thousands, except per share data):
| 2024 |  | 2023 |  | 2022
Weighted-average grant date fair value of stock options granted (per share) | NA |  | NA |  | NA
Aggregate grant date fair value of stock options vested during the year | $ | — |  |  | $ | — |  |  | $ | — |
Aggregate intrinsic value of stock options exercised | $ | — |  |  | $ | — |  |  | $ | 410 |
Schedule of Restricted Stock Activity | Restricted stock unit activity for the year ended December 31, 2024 follows:
| Time Based |  | Performance Based |  | Weighted Average Grant Date Fair Value Per Share
Non-vested restricted stock units outstanding at beginning of year | 5,827,668 |  | 521,533 |  | $ | 10.60 |
Granted | 3,113,411 |  | — |  | $ | 10.49 |
Vested | (3,245,228) |  | (45,661) |  | $ | 9.11 |
Forfeited | (268,194) |  | (23,358) |  | $ | 11.33 |
Non-vested restricted stock units outstanding at end of year | 5,427,657 |  | 452,514 |  | $ | 11.34 |
Schedule of Restricted Stock Unit Activity | Additional information as of December 31, 2024 with respect to these non-vested restricted stock units follows (dollars in thousands):
Aggregate intrinsic value | $ | 45,167 |
Weighted-average remaining vesting period | 1.71 years
Unrecognized compensation cost | $ | 42,828 |
Schedule of Performance Units | The total target number of shares granted with respect to the Performance Units for the years 2019-2024 is set forth below:
| 2024 Performance Unit Awards |  | 2023 Performance Unit Awards |  | 2022 Performance Unit Awards |  | 2021 Performance Unit Awards |  | 2020 Performance Unit Awards |  | 2019 Performance Unit Awards
Target number of shares | 875,100 |  | 631,700 |  | 414,000 |  | 843,000 |  | 500,500 |  | 489,800
Schedule of Fair Value of Performance Units | The fair value of the Performance Units is set forth below (in thousands):
| 2024 Performance Unit Awards |  | 2023 Performance Unit Awards |  | 2022 Performance Unit Awards |  | 2021 Performance Unit Awards |  | 2020 Performance Unit Awards |  | 2019 Performance Unit Awards
Aggregate fair value at date of grant | $ | 10,904 |  |  | $ | 8,440 |  |  | $ | 10,743 |  |  | $ | 7,225 |  |  | $ | 826 |  |  | $ | 9,958 |
Schedule of Weighted Average Assumptions Used to Estimate Fair Value of Options | The weighted-average fair value calculations for performance units granted during the years ended December 31, 2024, 2023 and 2022 were based on the following weighted-average assumptions set forth below:
| 2024 |  | 2023 |  | 2022
Risk-free interest rate (1) | 4.6 | % |  | 3.6 | % |  | 2.9 | %
Expected stock volatility (2) | 56.9 | % |  | 72.1 | % |  | 86.5 | %
Expected dividend yield (3) | 2.9 | % |  | 3.0 | % |  | 1.0 | %
Expected term (in years) | 3 |  | 3 |  | 3
(1)The risk-free interest rate is based on U.S. Treasury securities for the expected term of the Performance Units. (2)Expected volatilities are based on the daily closing price of our stock based upon historical experience over a three-year period. (3)Expected dividend yield is based on the annualized dividend in effect on the measurement date and the stock price on the grant date.
Schedule of Compensation Expense Associated with Performance Units | Compensation expense associated with the Performance Units is set forth below (in thousands):
| 2024 Performance Unit Awards |  | 2023 Performance Unit Awards |  | 2022 Performance Unit Awards |  | 2021 Performance Unit Awards |  | 2020 Performance Unit Awards |  | 2019 Performance Unit Awards
Year ended December 31, 2024 | $ | 2,436 |  |  | $ | 2,665 |  |  | $ | 3,459 |  |  | $ | 584 |  |  | NA |  | NA
Year ended December 31, 2023 | NA |  | $ | 2,248 |  |  | $ | 3,749 |  |  | $ | 2,426 |  |  | $ | 69 |  |  | NA
Year ended December 31, 2022 | NA |  | NA |  | $ | 2,686 |  |  | $ | 2,408 |  |  | $ | 275 |  |  | $ | 830 |

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