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Propetro Holding ( (PUMP) ) just unveiled an announcement.
ProPetro Holding Corp. has announced a new subsidiary, ProPetro Energy Solutions, LLC, operating as ProPWRSM, marking its first organic service line startup in over a decade. ProPWRSM will focus on mobile natural gas-fueled power generation to meet growing power demands in the Permian Basin for oilfield and industrial applications. The company has placed a $122 million order for 110 megawatts of power generation equipment, funded through cash and debt, with deployments expected from mid-2025 to early 2026. This strategic move aims to leverage ProPetro’s existing platform and customer base to become a premier mobile power service provider in the region.
More about Propetro Holding
ProPetro Holding Corp. is a Midland, Texas-based company providing premium integrated completion services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources.
YTD Price Performance: -5.97%
Average Trading Volume: 1,236,637
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $811.1M
For an in-depth examination of PUMP stock, go to TipRanks’ Stock Analysis page.
