ProPetro Holding (PUMP - Free Report) recently announced that it signed a contract with a leading independent Permian operator for the use of its first electric-powered hydraulic fracturing fleet (e-fleet). Per the agreement, PUMP will provide committed services for three years following the delivery of the e-fleet.
The contracted equipment will be positioned primarily to support simulated fracture operations. The undisclosed operator will initially use ProPetro’s Tier IV dynamic natural gas blending dual-fuel equipment. The transition to the e-fleet in the Permian Basin is anticipated to be completed in the third quarter of 2023.
The Midland, TX-based oilfield services provider stated that it executed orders for two more electric frac fleets, with the expected delivery in the fourth quarter of 2023. The additional order brings a total of four electric frac fleets to PUMP’s hydraulic fracturing offering, advancing the firm's fleet transition to next-generation equipment.
Founded in 2005, ProPetro Holding Corp. operates primarily in the Permian Basin spread over west Texas and New Mexico. The company offers a wide spectrum of specialized, complementary services and equipment for the exploration and production of oil and natural gas. Approximately 99% of PUMP's total revenues come from the Permian Basin.
ProPetro currently carries a Zacks Rank #2 (Buy). Investors interested in the energy space might look at some other top-ranked stocks — DCP Midstream Partners (DCP - Free Report) , Patterson-UTI (PTEN - Free Report) and Par Pacific (PARR - Free Report) — each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for DCP’s 2022 earnings stands at $4.47 per share, which indicates an increase of about 181.1% from the year-ago loss of $1.59.
DCP beat estimates for earnings in three of the trailing four quarters, the average being around 25.5%.
The consensus estimate for Patterson’s 2022 earnings is pegged at 54 cents per share, suggesting an increase of about 128% from the year-ago loss of $1.93.
PTEN beat estimates for earnings in three of the trailing four quarters, the average being around 169.2%.
The Zacks Consensus Estimate for Par Pacific’s 2022 earnings stands at $7.84 per share, which indicates an increase of about 555.8% from the year-ago loss of $1.72.
The consensus mark for PARR’s 2022 earnings has been revised upward twice in the past 60 days from $4.90 to $7.84 per share.
"electric" - Google News
December 08, 2022 at 08:35PM
https://ift.tt/DOLfSyt
ProPetro (PUMP) Gets Contract for First Electric Frac Fleet - Zacks Investment Research
"electric" - Google News
https://ift.tt/HPxOpTS
https://ift.tt/5ElT4O8
Bagikan Berita Ini
0 Response to "ProPetro (PUMP) Gets Contract for First Electric Frac Fleet - Zacks Investment Research"
Post a Comment