CJ 2017 Annual Report

December 31, 2016, which represents a 633.1% year-over-year increase. Successor Predecessor Year Ended December 31, 2017 2016 Revenue Fracturing $ 777,147 $ 353,929 Wireline & Pumping Services 315,999 159,317 Other (Cementing, Coil, Directional Drilling and Research & Technology) 163,365 86,541 Total revenue $ 1,256,511 $ 599,787 Adjusted EBITDA $ 221,888 $ (41,624) Average active hydraulic fracturing horsepower 515,000 480,000 Total fracturing stages 15,189 11,413 Average coiled tubing units 44 45 Average active coiled tubing units 19 27 Average active wireline trucks 72 68 Average active pumpdown units 61 44 Please read Note 13 - Segment Information” in Part II, Item 8 “Financial Statements and Supplementary Data” of this Annual Report, for a reconciliation of Adjusted EBITDA, a non-GAAP financial measure, from net income (loss), which is the nearest comparable U.S. GAAP financial measure (in thousands) on a reportable segment basis for the years ended December 31, 2017 and 2016. In our Completion Services segment, we continued to experience strong customer demand for all of our core services, which resulted in sequential improvement in both revenue and profitability despite year-end seasonality. In our fracturing business, we deployed a refurbished horizontal frac fleet to a dedicated customer in the Mid-Continent in early December 2017, which resulted in approximately 615,000 HHP deployed at quarter end consisting of fourteen horizontal and two vertical frac fleets. We also experienced solid customer demand and improved pricing in our wireline and pumping businesses, offset by varying degrees of year-end seasonality as certain core customers either substantially reduced activity levels or deferred certain jobs into the first quarter of 2018. With respect to our wireline business, our Texas districts continued to outperform, delivering an almost 13.0% increase in revenue that enhanced fourth quarter profitability and offset seasonal revenue declines in other core basins. In our well construction and intervention services business, our fourth quarter financial performance benefited from the closing of the O-Tex Transaction. Additionally, our cementing services business continued to experience growing demand and improved utilization in our core West Texas operating basin as we were awarded more rigs from both new and existing customers. In our coiled tubing business, despite fourth quarter seasonality, utilization and pricing continued to improve due to tight market conditions for large diameter units and our recently signed agreements for dedicated units with some of our most active customers in both South and West Texas. Demand for large diameter units remains strong, and we are currently evaluating additional dedicated agreements with select customers for our two new-build units that we expect to be delivered early in the second quarter of 2018. Completion Services Outlook As we move through the first quarter of 2018, we currently expect that our Completion Services segment will continue to experience strong activity levels based on increasing demand for our products and services as customer budgets were refreshed and new production targets set early in the first quarter. Based on customer demand in our fracturing business, we expect to deploy an additional horizontal fleet, consisting of new-build pumps and refurbished ancillary equipment, to a dedicated customer by the end of the first quarter. This will result in us exiting the first quarter of 2018 with approximately 655,000 HHP deployed, consisting of fifteen horizontal and two vertical fracturing fleets. We also currently expect to deploy all of our additional refurbished equipment by year-end 2018 due to continued strong near-term outlook. In our cased-hole wireline and pumping business, we expect to deploy refurbished pumping units and previously stacked wireline trucks into 40