Fracturing fluids and methods of fracturing a subterranean formation using such fluids are provided. A fracturing fluid having a first pH is foamed by introducing a gas to the fluid. The fracturing fluid comprises a surfactant that facilitates formation of the foam at the first pH. The foamed fracturing fluid is subsequently pumped to the subterranean formation to fracture it. The pH of the fracturing fluid is then changed to a second pH at which the surfactant facilitates reduction of the foam. The fracturing fluid releases proppant contained in the fluid to the subterranean formation. The fracturing fluid is then allowed to flow back to the surface. It can be recycled by changing the pH of the fracturing fluid back to the first pH and adding a gas to the fluid, causing it to foam again.