ProPetro's PROPWR Wing Lands First 10-Year, 80MW Power Deal

Group 1: Core Developments - ProPetro Holding Corp's power solutions division, PROPWR, has signed its first contract to deliver 80 megawatts (MW) of power capacity over a 10-year period, marking a significant milestone in distributed power for the oilfield services sector [1] - The project will utilize in-field gas to provide turnkey power to a distributed microgrid, employing natural gas reciprocating engines and gas turbines for reliable, low-emission power [1][2] Group 2: Strategic Implications - The agreement ensures stable, long-term earnings for PROPWR and highlights the increasing demand for flexible energy infrastructure in remote oilfield locations [2] - PROPWR will manage all on-site operations, maintenance, and monitoring, backed by take-or-pay obligations from the customer, enhancing its service reliability [2] Group 3: Market Position and Growth - ProPetro is positioning itself to deliver innovative solutions in a volatile oil and gas environment, aiming for lower-cost and lower-emission power [3] - The demand for PROPWR's services is surpassing expectations, with a letter of intent signed with a second customer and ongoing negotiations for more long-term agreements [4] Group 4: Financial Commitment - ProPetro plans to allocate $170 million in 2025 and $60 million in 2026 for capital spending in its PROPWR division to support current equipment orders [5]