ProPetro

We are a Midland, Texas-based oilfield services company providing hydraulic fracturing and other complementary services to leading upstream oil and gas companies engaged in the exploration and production, or E&P, of North American unconventional oil and natural gas resources.

The Company was founded in 2005. In 2010, management strategically focused the Company's efforts on establishing a best-in-class hydraulic fracturing platform targeting the Permian Basin. Our fleet has been designed to handle the highest-intensity, most complex hydraulic fracturing jobs, and is largely standardized across units to facilitate efficient maintenance and repair and reduce equipment downtime, like the Southwest Airlines standardized fleet model.

Through a handful of acquisitions and a robust newbuild program during the rapid growth period in the oilfield of 2010 through 2018, the Company built a fleet of over 600,000 hydraulic horsepower. Then in 2019, the Company negotiated a strategic transaction in which ProPetro acquired the pumping services assets of Pioneer Natural Resources along with a 10-year service contract to provide hydraulic fracturing services. This timely transaction resulted in total pumping horsepower of nearly 1.5 million hydraulic horsepower.