ProPetro Holding Corp.'s PROPWR division secured its inaugural contract, committing 80 megawatts of power generation capacity. This is a 10-year agreement with a Permian-focused E&P operator. Asset deployment is scheduled to begin in the third quarter of 2025 and continue through 2026.
PROPWR will deliver turnkey power to a distributed microgrid installation, utilizing in-field gas where utility power is unavailable. The service scope includes assets, onsite operations, maintenance, monitoring, an availability guarantee, and take-or-pay obligations for the customer. This agreement marks a significant milestone for PROPWR, establishing a long-term, midstream-like revenue stream.
The company noted that demand for PROPWR services has been greater than expected since its launch. ProPetro is actively pursuing additional opportunities and is negotiating further contracts beyond this announcement. This contract lays the groundwork for future expansion and adds stability to ProPetro's core business.
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