Shares of oilfield services provider ProPetro (PUMP.N) rise 3.2% to $11.50 premarket
Co says its power service division PROPWR signs deal with a subsidiary of oil and gas company Coterra Energy (CTRA.N)
Companies will provide power for the development and installation of distributed microgrids throughout the New Mexico portion of the Permian Basin
With this deal, PROPWR has over 220 megawatts (MW) committed under contract, and has placed orders for an additional 190 MW of equipment, its total on-order capacity now about 550 MW
The division’s capital expenditure for 2026 is expected to be between $250 million and $275 million
Up to last close, stock was up 19.4% YTD

PUMP

ProPetro's shares rose 3.2% premarket after its power service division, PROPWR, signed a deal with Coterra Energy to develop microgrids in New Mexico's Permian Basin. PROPWR now has over 220 MW committed and plans to add 190 MW, totaling 550 MW. The division's 2026 capital expenditure is projected at $250-$275 million. ProPetro's stock is up 19.4% YTD.

BUZZ-ProPetro gains on microgrid deal with Coterra Energy