ProPetro Secures Contract for Electric Fracturing Services

By Tamara Parker • Friday, December 20 10:20 • Permanent Link

Propetro Holding Corp. (NYSE: PUMP) has announced that it has secured a term contract to provide electric hydraulic fracturing services to a large independent Permian-focused oil and gas operator. This strategic move marks the deployment of the company's fourth Force® electric frac fleet with the valued operator.

Propetro's CEO, Sam Sledge, highlighted that the company now has four Force® electric fleets on term contracts, emphasizing the industry-leading performance of their active fleets in delivering value to customers through efficient completions performance. This development underscores the company's strategy and drive to build an efficient and profitable business.

With the addition of the fourth Force® fleet, Propetro's mobile power generation equipment needs in support of the operations under current term contracts are estimated to be approximately 165 megawatts. This announcement further supports the company's expectations regarding the growth in mobile power demand for electric-powered hydraulic fracturing fleets, as well as other oil and gas and industrial projects.

Sledge also mentioned the company's recently announced mobile power generation solutions business, PropWr℠, noting its positioning to effectively provide services to support the increasing demand for mobile power generation in the oil and gas industry, AI data centers, and other industrial purposes.

This announcement highlights Propetro Holding Corp.'s continued expansion and strategic positioning in the market as it seeks to capitalize on favorable industry trends and provide value to its customers.

About Propetro Holding Corp.: Propetro is a Midland, Texas-based provider of premium completion services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. As a result of these announcements, the company's shares have moved 0.9% on the market, and are now trading at a price of $9.03. For the full picture, make sure to review ProPetro's 8-K report.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.