ProPetro announces contract for four FORCE electric fleets, terms undisclosed

ProPetro Holding (PUMP) has entered into a term contract to provide electric hydraulic fracturing services to a large independent Permian-focused oil and gas operator. ProPetro’s Chief Executive Officer, Sam Sledge, commented, “We are pleased to announce another key strategic step for ProPetro as we deploy another of our industry-leading FORCE electric frac fleets with a valued Permian operator. We now have four FORCE electric fleets on term contracts and continue to experience industry-leading performance from our active fleets that are delivering value to our customers through efficient completions performance. Today’s announcement reinforces our strategy’s validity and our drive to build an efficient and profitable business here at ProPetro. Our four FORCE fleets will now require approximately 165 megawatts of mobile power generation equipment in support of the operations called for in their current term contracts. This announcement further supports our expectations regarding the growth in mobile power demand for electric-powered hydraulic fracturing fleets, among other oil and gas and industrial projects. We believe our recently announced mobile power generation solutions business, ProPWR?, is well-positioned to effectively provide services to support this growing demand and will benefit from these favorable trends, which are accelerating not only in the oil and gas industry but also for AI data centers and other industrial purposes.”