Introduction of New CFO
ProPetro welcomed Caleb Weatherl as the new Chief Financial Officer, bringing significant experience in the energy and financial sectors.
Next-Generation Fleet Expansion
75% of ProPetro's fleet is next-generation, including Tier IV DGB dual-fuel and FORCE electric fleets. Over 50% of active hydraulic horsepower is under long-term contracts.
PROPWR Success
ProPetro announced its inaugural contract for PROPWR, securing a 10-year agreement for 80 megawatts of power generation, with all 220 megawatts expected to be contracted by the end of 2025.
Strong Cash and Liquidity
ProPetro reported total cash of $75 million and total liquidity of $178 million, maintaining a strong financial position.
Resilient Free Cash Flow
Despite market challenges, ProPetro's Completions business generated $26 million in free cash flow.