ProPetro
ProPetro Holding Corp. is a Permian Basin oilfield services company providing hydraulic fracturing, wireline, cementing, and complementary completion services to leading upstream E&P companies, and is now expanding into mobile power generation (PROPWR) for data centers and industrial customers.
- Company typePublic
- Founded2005
- HeadquartersMidland, United States
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What ProPetro does
ProPetro Holding Corp. (NYSE: PUMP) is a Permian Basin-focused oilfield services company that provides hydraulic fracturing, wireline, cementing, and complementary services to leading upstream oil and gas exploration and production companies. Founded in 2005 and headquartered in Midland, Texas, the company operates 11 hydraulic fracturing fleets totaling 1,259,500 HHP (including 445,000 HHP of Tier IV DGB dual-fuel and 312,000 HHP of FORCE electric-powered equipment), 28 wireline units, and 29 cementing units. It also offers Aqua Prop wet sand solutions and, through its PROPWR subsidiary launched in late 2025, mobile natural gas-fueled power generation services targeting oil and gas producers, industrial customers, and data centers, with contracted capacity of approximately 550 megawatts and a target of 2.6 GW deployed by year-end 2031.
The company's business model is enterprise field sales to a concentrated base of large E&P customers, with services priced on usage-based terms tied to duration of fleet deployment and equipment specifications, typically under contracts of twelve months or longer. Revenue is generated through dedicated fleet deployments at customer wellsites, with top five customers representing 68.2% of FY2025 revenue, led by ExxonMobil (24.9%), Occidental Petroleum (13.7%), EOG Resources (12.1%), and Permian Resources (11.2%). In FY2025, ProPetro reported revenue of $1.269 billion (down 12.1% from $1.444 billion in FY2024) and returned to profitability with approximately $824,000 in net income versus a $137.9 million loss in the prior year.
ProPetro's strategic posture has shifted decisively in 2025-2026 toward power generation. The company executed a $150 million public stock offering in January 2026, closed a $350 million lease facility with Eldridge Capital in February 2026, and priced $600 million of 0.00% convertible senior notes due 2031 in May 2026, raising approximately $581 million in net proceeds. Capital is being deployed toward the PROPWR buildout under a strategic framework with Caterpillar for up to 2.1 GW of power generation assets. Concurrently, the company divested its Vernal, Utah cementing business in November 2025 and lost its Pioneer/ExxonMobil-nominated board seat in May 2026, reflecting portfolio and governance recalibration alongside the new growth investment.
ProPetro firmographics
Firmographics- Name
- ProPetro
- Legal name
- ProPetro Holding Corp.
- Website
- https://propetroservices.com
- Company type
- Public
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- ProPetro Holding Corp. is a Permian Basin oilfield services company providing hydraulic fracturing, wireline, cementing, and complementary completion services to leading upstream E&P companies, and is now expanding into mobile power generation (PROPWR) for data centers and industrial customers.
- Ownership category
- akta.pro rank
ProPetro industry classification
Industry- Product category
- Oilfield Services
- NAICS
- Oil and Gas Field Machinery and Equipment Manufacturing (333132), Fluid Power Pump and Motor Manufacturing (333996)
- SIC
- Oil & Gas Field Machinery & Equipment (3533), Oil & Gas Field Services, Nec (1389), Engines & Turbines (3510)
- akta.pro primary industry
- Pressure Pumping & Stimulation (Hydraulic Fracturing, Acidizing) (EUALABAF)
- akta.pro secondary industries
- Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals) (EUALABAH), Centrifugal Pumps (IMAHANAA)
Keywords
Where ProPetro is headquartered
LocationHeadquarters
- HQ city
- Midland
- HQ country
- United States
- HQ region
- North America
Offices4 records
Markets served
ProPetro business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales
Revenue model
- Hydraulic Fracturing Services: Provides hydraulic fracturing services to E&P companies in the Permian Basin. Services are charged based on duration and equipment deployed at wellsites.
- Wireline Services: Wireline and ancillary services including perforating and pumpdown services for new oil well completions in the Permian Basin.
- Cementing Services: Cementing services for completion of new wells and remedial work on existing wells using pressure pumping equipment.
- PROPWR Power Generation Services: Turnkey power generation services provided through contractual arrangements with prices per unit of power generated or per period plus minimum quantities, and cost-plus-margin arrangements for related services. Started revenue-generating activities in Q3 2025.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Multi-year contract | Services priced based on fleet deployment duration and equipment specifications |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
ProPetro product offering
Product offeringCore offering
ProPetro provides hydraulic fracturing, wireline, and cementing services to leading upstream oil and gas companies operating in the Permian Basin. The company operates a fleet of over 1.25 million hydraulic horsepower across 11 frac fleets, 28 wireline units, and 29 cementing units, and has expanded into turnkey mobile power generation through its PROPWR division for oil and gas producers, industrial customers, and data centers.
Product overview
ProPetro is an integrated energy services company providing complementary completion services to upstream oil and gas producers in the Permian Basin. The company's portfolio consists of six distinct offerings: Hydraulic Fracturing (core pumping services), Cementing, Silvertip Wireline, FORCE Electric Fleet (electric-powered frac equipment), PROPWR (mobile power generation for data centers and industrial applications), and Aqua Prop (wet sand logistics). The core business centers on hydraulic fracturing and wireline services, while PROPWR represents a strategic diversification into power generation services for AI data centers and energy-intensive industrial customers.
Differentiator
Problem solved
Functional benefit
Brands
- PROPWR: Power generation solutions division providing turnkey mobile power generation services to oil and gas producers, industrial projects, and data centers using natural gas-fueled power equipment
- FORCE Electric Fleet
- Aqua Prop®
- Silvertip Wireline
Products and services
- Hydraulic Fracturing
Quantifiable outcome
- Total available hydraulic horsepower of 1,259,500 HHP as of December 31, 2025
- +3 more outcomes
Companies that use ProPetro
Customer profileNamed customers6 records
Segments2 records
Ideal customer profiles2 records
ProPetro technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
ProPetro partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- Caterpillar Inc.coreStrategic framework agreement for up to 2.1 gigawatts of power generation assets over five years. PROPWR commits to purchasing at least 1.5 GW of incremental capacity with combined existing orders positioning for approximately 2.6 GW deployed by year-end 2031. Agreement leverages Caterpillar's power generation technologies and global scale to address accelerating demand from energy-intensive applications including data centers.
- Coterra Energy Inc.coreDistributed microgrid contract for Coterra's New Mexico Permian Basin operations starting early 2026. PROPWR secured over 220 megawatts of contracted power with additional equipment orders bringing total capacity to approximately 550 megawatts. Supports Coterra's focus on capital efficiency with lower-emission on-site power.
- XTO Energy Inc. (ExxonMobil subsidiary)coreSub-agreement for hydraulic fracturing services with two committed FORCE electric-powered hydraulic fracturing fleets and option for third fleet with wireline and pumpdown services. Agreement expires late 2026.
Scale indicators13 records
Recent moves6 records
Expansion highlights5 records
ProPetro competitors and assessment
Company assessmentEmerging players
- Bloom Energy: Bloom Energy (NYSE: BE) provides fuel cell-based distributed power generation solutions targeting data centers and industrial customers. Compares to ProPetro's PROPWR division as an emerging player in behind-the-meter and distributed power generation for energy-intensive applications.
Broad incumbents
- Halliburton Company: Halliburton (NYSE: HAL) is one of the world's largest oilfield services companies with a broad portfolio spanning drilling, completions (including hydraulic fracturing), and production services. While overlapping with ProPetro in pressure pumping, Halliburton's scale and global footprint make it a broad incumbent rather than a focused peer.
- Schlumberger (SLB): SLB (NYSE: SLB) is the largest global oilfield services company offering integrated drilling, completions, and production solutions worldwide. Overlaps with ProPetro in hydraulic fracturing and completions but operates at far greater scale and geographic diversity as a broad incumbent.
Direct peers
- BJ Services: BJ Services is a leading provider of pressure pumping services including hydraulic fracturing and cementing across major U.S. shale plays. Directly comparable to ProPetro in frac fleet operations, customer base, and completion services focus, with overlap particularly in the Permian Basin.
- Patterson-UTI Energy: Patterson-UTI (NASDAQ: PTEN) operates drilling rigs and a significant pressure pumping business serving U.S. onshore basins including the Permian. Closely comparable to ProPetro in pressure pumping and integrated completions services business model.
- RPC, Inc. RPC (NYSE: RES) provides a range of oilfield services including pressure pumping, cementing, and acidizing through its Cudd Energy Services and Thru Tubing Solutions segments. Directly comparable to ProPetro in pressure pumping services, fleet scale, and U.S. onshore customer base.
- Liberty Energy: Liberty Energy (NYSE: LBRT) is a leading North American hydraulic fracturing services provider with a comparable Permian Basin-focused frac fleet. Both companies offer electric and natural gas-fueled low-emissions frac fleets serving similar large-cap E&P customers with similar completion-focused business models.
- ProFrac Holding Corp. ProFrac (NASDAQ: ACDC) operates one of the largest hydraulic fracturing fleets in the U.S. with a focus on electric and natural gas-fueled fleets. Directly comparable to ProPetro in frac fleet scale, technology differentiation, and Permian Basin customer base.
- NexTier Oilfield Solutions: NexTier Oilfield Solutions (NYSE: NEX) provides completion-focused services including hydraulic fracturing and wireline across key U.S. basins including the Permian. Directly competes with ProPetro in frac fleet capacity, completions integration, and low-emissions equipment strategy.
- Calfrac Well Services: Calfrac (TSX: CFW) is a North American pressure pumping specialist providing hydraulic fracturing and coiled tubing services. Highly comparable to ProPetro in pressure pumping business model, fleet composition, and customer base, with some geographic overlap in U.S. basins.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
ProPetro social profiles
Digital presenceProPetro financial estimates
Financial estimateRevenue estimate
Valuation estimate
ProPetro leadership team
Management profileNumber of profiles
Profiles13 records
ProPetro subsidiaries and ownership
Company hierarchySubsidiaries4 records
ProPetro funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
ProPetro M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about ProPetro
What does ProPetro do?
ProPetro provides hydraulic fracturing, wireline, and cementing services to leading upstream oil and gas companies operating in the Permian Basin. The company operates a fleet of over 1.25 million hydraulic horsepower across 11 frac fleets, 28 wireline units, and 29 cementing units, and has expanded into turnkey mobile power generation through its PROPWR division for oil and gas producers, industrial customers, and data centers.
Is ProPetro a public or private company?
ProPetro is a public company. It is classified as public and is currently operating.
When was ProPetro founded?
ProPetro was founded in 2005. It employs 1,001 to 5,000 people.
Where is ProPetro based?
ProPetro is headquartered in Midland, United States, in the North America region.
How does ProPetro make money?
Four revenue lines are on record. Hydraulic Fracturing Services are the primary driver. The others are wireline Services, cementing Services and PROPWR Power Generation Services.
Who are ProPetro's main competitors?
Bloom Energy is listed as an emerging player. Broad incumbents are Halliburton Company and Schlumberger (SLB). Direct peers are BJ Services, Patterson-UTI Energy, RPC, Inc., Liberty Energy, ProFrac Holding Corp., NexTier Oilfield Solutions and Calfrac Well Services.
Does ProPetro have an API?
No public API is recorded for ProPetro.
What industry is ProPetro in?
ProPetro's product category is Oilfield Services. Its primary akta.pro industry code is EUALABAF, Pressure Pumping & Stimulation (Hydraulic Fracturing, Acidizing), with a secondary code of EUALABAH, Production Services & Artificial Lift (ESP, Rod Lift, Gas Lift, Chemicals). Its NAICS code is 333132 and its SIC code is 3533.