ProPetro Secures New Contract for Fourth Electric Frac Fleet

ProPetro Expands Fracturing Services with New Contract

ProPetro Holding Corp. (NYSE: PUMP) is excited to announce that it has secured a term contract to provide electric hydraulic fracturing services to a significant independent operator focused on the Permian Basin. This development marks a strategic advancement for ProPetro in its mission to offer effective and sustainable energy solutions.

Details on the New Contract

Sam Sledge, ProPetro’s CEO, expressed enthusiasm about this contract, emphasizing its importance as part of the company’s growth strategy. The addition of the fourth FORCE electric hydraulic fracturing fleet demonstrates ProPetro's commitment to enhancing service reliability and efficiency. With four fleets now under contract, ProPetro is positioned to deliver industry-leading performance backed by adept technological capabilities.

Power Generation Needs

To support the operations required by these contracts, the four electric fleets will demand approximately 165 megawatts of mobile power generation equipment. This substantial requirement underlines the growing trend of mobile power usage within the oil and gas sector, particularly for electric-powered fracturing fleets.

Adapting to Market Dynamics

ProPetro recognizes the shifting dynamics within the energy market and is committed to adapting its strategies accordingly. The demand for efficient, sustainable energy solutions continues to rise, particularly due to increasing operational efficiency and environmental considerations. ProPetro aims to play a pivotal role in this transformation by offering premium services that cater to today’s market needs.

Investment in Mobile Power Solutions

In alignment with its strategic foresight, ProPetro recently established a mobile power generation solutions division named ProPWR?. This new business line is anticipated to leverage favorable trends within the energy industry and beyond, notably benefiting sectors like AI data centers and various industrial projects that require reliable power sources.

Commitment to Excellence

With a rich history of providing premium completion services, ProPetro is dedicated to supporting leading oil and gas companies in North America. The company's vision revolves around delivering reliable energy solutions while upholding the highest standards of efficiency and performance.

About ProPetro Holding Corp.

Based in Midland, Texas, ProPetro Holding Corp. specializes in completion services for upstream oil and gas firms engaged in the exploration and production of unconventional oil and natural gas resources. Committed to bringing energy reliability to the world, the company is continually enhancing its operational capabilities to meet the varying demands of the industry. More information about their services and solutions can be found on their official website.

Frequently Asked Questions

What is the latest contract announcement from ProPetro about?

ProPetro has announced a new term contract for a fourth FORCE electric hydraulic fracturing fleet to provide services to a significant independent oil and gas operator.

How many FORCE electric fleets does ProPetro currently have?

ProPetro now has four FORCE electric fleets on term contracts following this latest deal.

What is the significance of the 165 megawatts requirement?

This requirement highlights the growing demand for mobile power solutions within the oil and gas industry, specifically for electric fracturing operations.

What is ProPWR??

ProPWR? is ProPetro’s newly established mobile power generation solutions division, aimed at meeting the rising demand for power in various sectors.

Where can I find more information about ProPetro?

Additional information is available on ProPetro's official company website.

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