ProPetro Holding Corp

ProPetro Holding Corp. (NYSE: PUMP) provides completion services to upstream oil and gas producers developing North American unconventional resources. All of its completions revenue comes from the Permian Basin, and it operates through two businesses.

Completions business:
- Hydraulic fracturing, wireline and cementing services.
- The frac fleet includes FORCE electric fleets (four under contract, at least one being bought out of operating leases), Tier IV DGB dual-fuel fleets and Direct Drive natural gas frac units.
- Most active horsepower burns natural gas, and more than two-thirds is under contract, with most renewals in the first half of 2027.
- About 13 fleets are currently active.

PROPWR power business:
- Provides behind-the-meter, turnkey 'power as a service' to data center, oil and gas, midstream and industrial customers in the United States.
- Service includes equipment, operations, maintenance, monitoring, permitting and availability guarantees.
- Uses a modular PWR~ASSET → PWR~NODE → PWR~PLANT architecture, built mainly on natural gas reciprocating engines from 2 MW to 10 MW plus mobile gas turbines.
- Has about 510 MW under contract, including a ~230 MW Targa Resources agreement.
- Has served a Midwest hyperscaler data center since June 2026.
- Has about 2.6 GW of equipment secured through orders and a Caterpillar strategic framework agreement, targeted for delivery by year-end 2031.

The company has raised roughly $1.5 billion over two years to fund PROPWR, including $690 million of convertible senior notes issued in May 2026. Updated Oct 28, 2026