ProPetro to Provide Hydraulic Fracturing Services to ExxonMobil in the Permian Basin
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ProPetro Holding Corp. said it has entered into a three year hydraulic fracturing services agreement to provide electric hydraulic fracturing services to ExxonMobil in the Permian Basin.
“We’re thrilled to announce a key strategic step for ProPetro as we strengthen our longstanding relationship with ExxonMobil. Having collaborated with them since 2015, our partnership has always been rooted in safety and operational excellence. Now, by introducing our FORCE℠ electric fleets, we’re moving towards a more sustainable and industrialized future together,” said ProPetro’s Chief Executive Officer, Sam Sledge.
“This step is a significant moment for us, showcasing our collaboration with a leading global energy provider to deliver innovative, cost-effective, and more environmentally friendly energy service solutions through our multi-year agreement. This commitment, which includes electric hydraulic fracturing, wireline, and pumpdown services, underlines our dedication to leading the industry with high-quality, low-emission, and industrialized services,” added Sledge.
“On behalf of ProPetro, we look forward to advancing our partnership with ExxonMobil, emphasizing our mutual dedication to reliable and safe operations in the Permian Basin, a cornerstone of energy reliability and security. Today’s announcement reinforces our strategy’s validity and our drive to build an efficient and profitable business here at ProPetro,” concluded Sledge.
ProPetro will deliver and dedicate FORCE℠ electric-powered hydraulic fracturing fleets to provide fracture stimulation pumping services coupled with its Silvertip wireline and pumpdown services along with other products in connection with such services.
The agreement includes the deployment of two FORCE℠ electric hydraulic fracturing fleets, wireline, and pumpdown services in the first half of 2024 with an option for a third FORCE℠ fleet with wireline and pumpdown services to commence operations in early 2025. The services are to be delivered over a three-year term with various provisions including performance incentives.
ProPetro Holding Corp. is a Midland, Texas-based provider of premium completion services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. They help bring reliable energy to the world.
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