ProPetro in three year deal with Exxon in Permian, no terms

ProPetro Holding (PUMP) has entered into a three year Hydraulic Fracturing Services Agreement to provide electric hydraulic fracturing services to ExxonMobil (XOM) in the Permian Basin. ProPetro’s Chief Executive Officer, Sam Sledge, commented, “We’re thrilled to announce a key strategic step for ProPetro as we strengthen our longstanding relationship with ExxonMobil. Having collaborated with them since 2015, our partnership has always been rooted in safety and operational excellence…” ProPetro will deliver and dedicate FORCESM electric-powered hydraulic fracturing fleets to provide fracture stimulation pumping services coupled with our Silvertip wireline and pumpdown services along with other products in connection with such services. The agreement includes the deployment of two FORCESM electric hydraulic fracturing fleets, wireline, and pumpdown services in the first half of 2024 with an option for a third FORCESM fleet with wireline and pumpdown services to commence operations in early 2025. The services are to be delivered over a three-year term with various provisions including performance incentives.