ProPetro Holding Corp
F:2PG
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ProPetro Holding Corp
F:2PG
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Cheniere Energy Inc
NYSE:LNG
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ProPetro Holding Corp
ProPetro Holding Corp. is an oilfield services company that helps shale producers complete new wells after drilling. Its core business is pressure pumping, especially hydraulic fracturing, where high-pressure fluid is used to crack rock and let oil and gas flow more easily. It also provides related completion services that support that same stage of well development. Its main customers are exploration and production companies, especially operators working in the Permian Basin. ProPetro makes money by sending crews, equipment, and technical services to customer well sites and charging for that work under service contracts or job-based arrangements. In simple terms, it sells the field labor and specialized equipment needed to finish wells, not the oil or gas itself. What makes the business different is that it sits in a narrow and highly cyclical part of the energy supply chain. ProPetro does not own producing assets; it earns fees when customers are drilling and completing wells and needs large, specialized pumping fleets to do the work. That makes it a service provider closely tied to U.S. shale activity, with value built around equipment, logistics, and execution in tough field conditions.
ProPetro Holding Corp. is an oilfield services company that helps shale producers complete new wells after drilling. Its core business is pressure pumping, especially hydraulic fracturing, where high-pressure fluid is used to crack rock and let oil and gas flow more easily. It also provides related completion services that support that same stage of well development.
Its main customers are exploration and production companies, especially operators working in the Permian Basin. ProPetro makes money by sending crews, equipment, and technical services to customer well sites and charging for that work under service contracts or job-based arrangements. In simple terms, it sells the field labor and specialized equipment needed to finish wells, not the oil or gas itself.
What makes the business different is that it sits in a narrow and highly cyclical part of the energy supply chain. ProPetro does not own producing assets; it earns fees when customers are drilling and completing wells and needs large, specialized pumping fleets to do the work. That makes it a service provider closely tied to U.S. shale activity, with value built around equipment, logistics, and execution in tough field conditions.
Revenue and cash flow: ProPetro reported second-quarter revenue of $306 million, up 13% sequentially, and operating cash flow of $66 million, showing that the completions business continued to generate cash despite weather, deployment, and downtime headwinds.
Profitability: Adjusted EBITDA was $45 million, or 15% of revenue, up 23% sequentially, while the company posted a net loss of $8 million, or $0.07 per diluted share.
Completions outlook: Management said the market is tightening, pricing is improving, and the company will activate a 13th frac fleet later in the third quarter because it sees durable demand and better long-term returns.
PROPWR momentum: The power business expanded contracted capacity from about 240 megawatts to 350 megawatts and generated positive EBITDA in each of the final 2 months of the quarter, an early sign of traction.
Liquidity: Management stressed it has ample funding for its plan, citing $784 million of cash, $905 million of total liquidity, and no borrowings on the ABL facility.
Guidance: Full-year 2026 capital expenditure guidance was lowered to $525 million to $595 million, mainly because one planned FORCE fleet buyout moved into early 2027.