ProPetro Holding Corporation announced a three-year deal to deliver 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,” said ProPetro's CEO Sam Sledge in a press release on April 29. “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."
Under the agreement, ProPetro will deploy FORCE electric-powered hydraulic fracturing fleets, along with silvertip wireline and pump down services, over a three-year term, according to the release. The initial deployment will include two FORCE fleets, with an option for a third fleet in early 2025. Various performance incentives are included in the agreement.
"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,” Sledge said. “Today's announcement reinforces our strategy's validity and our drive to build an efficient and profitable business here at ProPetro."
ProPetro Holding Corporation, headquartered in Midland, is a provider of completion services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources, according to their website. For more information, visit www.propetroservices.com.