ProPetro increase share repurchase authorization to $200M

ProPetro Holding Corp. announced that the company’s Board of Directors approved an increase and extension of ProPetro’s share repurchase program. The program permits the repurchase of up to an additional $100M of the company’s common shares for a total of $200M and extends the expiration date by one year to May 31, 2025. “We are pleased to announce the expansion of our share repurchase program, which reflects the strong support of our Board of Directors in our strategy and ability to execute,” stated Sam Sledge, Chief Executive Officer. “We are confident we have the right strategy in place to benefit from our position as a sophisticated service provider. Our proven discipline and transformed, bifurcated fleet give us confidence in our strategy and earnings potential. As we continue to industrialize our business, we’re creating durable and repeatable results. The industrialized model that ProPetro is implementing will continue to pay off and produce benefits for years to come. Today’s expansion highlights our commitment and confidence in that strategy.”