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ProPetro Holding Corp. (symbol: PUMP) is a premier oilfield services company headquartered in Midland, Texas. The company specializes in providing essential services to the oil and gas industry, including hydraulic fracturing, wireline, cementing, and coiled tubing operations. ProPetro is primarily focused on the Permian Basin but also serves other significant oil-producing areas such as the Uintah-Piceance and Anadarko Basins.
Core Business and Services:
- Hydraulic Fracturing: This is ProPetro's primary revenue-generating service, which involves high-pressure injection of fluids to create fractures in rock formations, enhancing oil and gas extraction.
- Wireline Services: These services include the deployment of a wireline cable into wells for various tasks, such as logging and perforating, essential for evaluating and optimizing well performance.
- Cementing: ProPetro provides cementing services to ensure well integrity and zonal isolation during drilling and completion operations.
- Coiled Tubing: These services are used for well intervention and maintenance, offering flexibility and efficiency in various downhole operations.
Strategic Focus and Recent Achievements:
ProPetro's strategic focus lies in leveraging its advanced technology and experienced workforce to enhance operational efficiency and maximize client value. Recent achievements include expanding their hydraulic fracturing fleet with state-of-the-art equipment and forming strategic partnerships with leading exploration and production companies to deliver customized solutions.
Financial Condition:
The company maintains a robust financial position backed by consistent revenue streams from its diversified service offerings. It continues to invest in technology and equipment upgrades to stay competitive in the evolving oilfield services market.
Current Projects:
ProPetro is actively involved in multiple high-profile projects across its service areas, aiming to support sustainable and efficient oil and gas extraction. The company's commitment to safety, environmental stewardship, and community engagement underscores its operations.
For investors and stakeholders, ProPetro Holding Corp. represents a dynamic and reliable entity in the oilfield services industry, dedicated to driving growth and innovation in the sector.
ProPetro Holding Corp. (NYSE: PUMP) announced its earnings release for the first quarter of 2023, scheduled for May 3, 2023, before market opening. The company will conduct a conference call on the same day at 8:00 AM Central Time to discuss its results. Interested parties can access the call by dialing 1-844-340-9046 for U.S. callers or 1-412-858-5205 for international callers. A replay will be available for one week post-call. ProPetro operates in the oilfield services sector, primarily offering pressure pumping services to oil and gas companies in North America.
For additional details, visit www.propetroservices.com.
ProPetro Holding Corp. (NYSE: PUMP) reported a 46% revenue increase to $1.3 billion for the full year 2022, with net income rising to $2 million, contrasting a $54 million loss in 2021. Adjusted EBITDA soared by 134% to $317 million, with margins improving from 15% to 25%. In Q4 2022, revenues rose 5% to $349 million, while net income reached $13 million ($0.12 per diluted share). However, Q4 Adjusted EBITDA declined 7% to $84 million, impacted by fleet repositioning and seasonal factors. ProPetro acquired Silvertip Completion Services and expects 2023 capital expenditures between $250 million and $300 million while aiming for robust service demand.
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