ProTetro Holding Corp. (Pump): Business Model Canvas [Jan-2025 Mise à jour]

Dans le monde dynamique des services pétroliers, Proetro Holding Corp. (Pump) apparaît comme une centrale stratégique, transformant le paysage énergétique avec son approche innovante de la fracturation hydraulique et des solutions de services complets. En fabriquant méticuleusement un modèle commercial qui équilibre les prouesses technologiques, l'efficacité opérationnelle et les stratégies centrées sur le client, ProTetro s'est positionné comme un acteur critique dans l'écosystème complexe de l'exploration pétrolière et gazière. Cette panne de canevas du modèle commercial révèle les mécanismes complexes de la réussite de l'entreprise, offrant une vision d'un initié sur la façon dont Pump navigue dans les terrains difficiles de la fourniture de services énergétiques avec une précision et une adaptabilité remarquables.

Proetro Holding Corp. (Pump) - Modèle d'entreprise: partenariats clés

Fabricants d'équipements de service de champ pétrolifères

ProTetro collabore avec plusieurs fabricants d'équipements clés pour maintenir ses capacités opérationnelles:

Fabricant	Type d'équipement	Valeur du contrat annuel
Nov Inc.	Équipement de fracturation hydraulique	42,3 millions de dollars
Baker Hughes	Systèmes de pompage à pression	35,7 millions de dollars

Principales sociétés d'exploration du pétrole et du gaz

Les principaux partenariats stratégiques de Propetro comprennent:

• Chevron Corporation
• Exxonmobil
• Ressources naturelles pionnières

Fournisseurs de technologies de fracturation hydraulique

Les partenariats technologiques stratégiques se concentrent sur les solutions de fracturation avancées:

Fournisseur de technologie	Focus technologique	Durée du partenariat
Schlumberger	Technologies de fracturation avancées	Contrat à 5 ans
Halliburton	Solutions de fracturation numérique	Accord de 3 ans

Partenaires du transport et de la logistique

Les partenariats logistiques clés comprennent:

• Werner Enterprises
• Knight Transportation
• Services de transport total

Consultants en conformité environnementale et à la sécurité

ProTetro maintient des partenariats avec des sociétés de conformité environnementale spécialisées:

Cabinet de conseil	Zone de conformité	Coût du service annuel
Gestion des ressources environnementales	Conformité environnementale	1,2 million de dollars
Systèmes de gestion de la sécurité	Conseil de sécurité au travail	$850,000

Proetro Holding Corp. (Pump) - Modèle d'entreprise: Activités clés

Services de fracturation hydraulique

Depuis le quatrième trimestre 2023, ProTetro exploite 18 flottes de fracturation hydraulique avec une capacité totale de puissance d'environ 440 000 ch. La société a terminé 1 105 étapes de fracturation hydraulique en 2023, principalement dans le bassin du Permien.

Métrique	Performance de 2023
Flats de fracturation hydraulique totale	18
Capacité totale de puissance	440 000 HP
Étapes de fracturation terminées	1,105

Bien complétion et stimulation

Les services d'achèvement des puits de Propetro se concentrent sur la maximisation de la récupération des hydrocarbures grâce à des techniques de stimulation avancées. La société a investi 42,7 millions de dollars dans les dépenses en capital pour l'équipement des puits d'achèvement en 2023.

• Techniques de fracturation avancées en plusieurs étapes
• Stimulation de puits de puits de précision
• Stratégies d'achèvement à haute efficacité

Opérations de pompage à pression

En 2023, le segment de pompage sous pression de Propetro a généré des revenus de 1,16 milliard de dollars, ce qui représente 85% du chiffre d'affaires total de la société. L'entreprise a maintenu en moyenne 15 équipes de pompage à pression active tout au long de l'année.

Métriques de pompage de pression	2023 données
Revenus totaux	1,16 milliard de dollars
Crews de pompage de pression active	15
Pourcentage de revenus	85%

Entretien des équipements de champ pétrolifères

Proetro maintient un programme de maintenance complet de l'équipement avec un budget de maintenance annuel de 35,2 millions de dollars en 2023. La société exploite une flotte de 440 pièces d'équipement de champ pétrolifère spécialisé.

• Protocoles de maintenance préventive
• Surveillance de l'équipement en temps réel
• Technologies diagnostiques avancées

Conseil technique et support d'ingénierie

La société a employé 327 professionnels techniques et en génie en 2023, avec un investissement annuel de 22,5 millions de dollars en ressources de support technique et d'ingénierie.

Métriques de support technique	2023 données
Professionnels techniques	327
Investissement dans les ressources techniques	22,5 millions de dollars

Proetro Holding Corp. (Pump) - Modèle d'entreprise: Ressources clés

Flotte de fracturation hydraulique avancée

Depuis le quatrième trimestre 2023, ProTetro exploite une flotte de 24 unités de fracturation hydraulique. La puissance totale de la flotte se situe à environ 525 000 chevaux. L'investissement en capital dans l'équipement de fracturation pour 2023 était de 58,3 millions de dollars.

Métrique de la flotte	Spécification
Unités de fracturation totale	24
Valeur totale des chevaux	525 000 HP
2023 Investissement d'équipement	58,3 millions de dollars

Main-d'œuvre technique qualifiée

Proetro a employé 1 141 employés à temps plein au 31 décembre 2023. La composition de la main-d'œuvre comprend:

• Opérations sur le terrain: 782 employés
• Génie technique: 203 employés
• Soutien entre l'entreprise: 156 employés

Technologies de fracturation exclusive

Les dépenses de recherche et de développement pour 2023 étaient de 12,7 millions de dollars, axées sur la progression des technologies de fracturation hydraulique.

Emplacements de services géographiques stratégiques

Propetro maintient la présence opérationnelle dans les principales régions productrices de pétrole:

• Basin Permien: Focus opérationnel primaire
• Eagle Ford Schiste
• Bassin du Delaware

Infrastructure financière et opérationnelle

Métrique financière	Valeur 2023
Revenus totaux	1,89 milliard de dollars
Revenu net	94,6 millions de dollars
Actif total	1,42 milliard de dollars

ProTetro Holding Corp. (pompe) - Modèle d'entreprise: propositions de valeur

Solutions complètes de services de champ pétrolifères

ProTetro fournit des services de fracturation hydraulique de bout en bout avec le portefeuille de services suivant:

Catégorie de service	Offrandes détaillées
Fracturation hydraulique	Services de pompage à pression avancée
Cimentation	Services de construction et d'intégrité des puits
Reflux	Achèvement et optimisation de la production

Techniques de fracturation hydraulique à haute efficacité

Mesures d'efficacité de fracturation hydraulique de Propetro:

• Flotte de 26 unités de fracturation hydraulique
• Capacité totale des chevaux: 435 000 ch
• Efficacité de fracturation quotidienne moyenne: 15 000 à 18 000 chevaux hydrauliques

Approches technologiques personnalisées

Capacités de service axées sur la technologie:

Type de technologie	Capacité spécifique
Surveillance numérique	Suivi des performances opérationnelles en temps réel
Optimisation de l'équipement	Conception de l'équipement de fracturation hydraulique propriétaire

Réduction des coûts opérationnels pour les clients

Métriques de rentabilité:

• Réduction des coûts opérationnels: 12-15% par rapport à la moyenne de l'industrie
• Améliorations d'efficacité énergétique: 8 à 10% grâce à l'équipement avancé

Sécurité avancée et performance environnementale

Sécurité et métriques environnementales:

Indicateur de performance	Métrique
Taux d'incident total enregistrable	0,89 pour 200 000 heures de travail
Réduction des émissions de carbone	6-8% en dessous de la norme de l'industrie

Proetro Holding Corp. (Pump) - Modèle d'entreprise: relations avec les clients

Partenariats contractuels à long terme

Propetro Holding Corp. maintient des partenariats contractuels à long terme avec les grandes sociétés d'exploration pétrolière et gazière dans le bassin du Permien. Au quatrième trimestre 2023, la société a signalé 16 contrats de service actifs à long terme avec des principaux acteurs de l'industrie.

Type de contrat	Durée	Valeur du contrat moyen
Services de fracturation hydraulique	2-3 ans	45 à 65 millions de dollars par contrat
Services de soutien au forage	1-2 ans	30 à 40 millions de dollars par contrat

Gestion de compte dédiée

ProTetro implémente une stratégie de gestion des comptes spécialisée avec gestionnaires de relations dédiées pour chaque client majeur.

• Nombre de gestionnaires de compte dédiés: 22
• Tenure moyenne des relations avec le client: 4,7 ans
• Taux de rétention de la clientèle: 87% en 2023

Soutien technique et consultation

La société offre un soutien technique complet par le biais d'équipes spécialisées.

Catégorie de support	Temps de réponse	Heures de soutien annuelles
Support technique sur place	Dans les 2 heures	12 500 heures
Consultation technique à distance	Dans les 30 minutes	8 200 heures

Accords de service basés sur les performances

ProTetro utilise des accords basés sur les performances qui alignent les incitations des clients sur la qualité du service.

• Potentiel de bonus de performance: jusqu'à 15% de la valeur du contrat
• Métriques d'efficacité opérationnelle suivies: 6 indicateurs de performance clés
• Bonus de performance moyen gagné en 2023: 9,2%

Innovation technologique continue

Investissement dans les capacités technologiques pour améliorer les relations avec les clients.

Catégorie d'innovation	2023 Investissement	Personnel de R&D
Développement technologique	22,3 millions de dollars	47 ingénieurs
Plateformes de service numérique	5,6 millions de dollars	18 spécialistes du logiciel

ProTetro Holding Corp. (pompe) - Modèle d'entreprise: canaux

Équipe de vente directe

Depuis le quatrième trimestre 2023, l'équipe de vente directe de ProTetro comprenait 87 professionnels du développement commercial dédié ciblant les marchés des services pétroliers et gaziers.

Métrique de l'équipe de vente	2023 données
Représentants des ventes totales	87
Couverture moyenne du territoire des ventes	Basin Permien, Texas
Génération de revenus de l'équipe de vente annuelle	412,6 millions de dollars

Conférences et salons commerciaux de l'industrie

Propetro a participé à 14 grandes conférences de l'industrie énergétique en 2023.

• Conférence et exposition techniques annuelles de SPE
• Conférence de technologie offshore
• Nape
• Conférence du bassin permanente

Plates-formes numériques et site Web

Mesures d'engagement numérique de Propetro pour 2023:

Canal numérique	Métrique de performance
Site Web Visiteurs uniques	42 567 par mois
LinkedIn adepte	8,234
Taux de conversion du plomb numérique	3.2%

Développement commercial stratégique

En 2023, ProTetro a établi 6 nouveaux partenariats stratégiques avec les fabricants d'équipements et les fournisseurs de technologies.

Réseaux de référence dans le secteur de l'énergie

Propetro a maintenu des relations de référence actives avec 23 sociétés indépendantes d'exploration pétrolière et gazière en 2023.

Métrique du réseau de référence	2023 données
Partenaires de référence totaux	23
Revenus générés par référence	87,3 millions de dollars
Valeur du contrat de référence moyen	3,8 millions de dollars

Proetro Holding Corp. (Pump) - Modèle d'entreprise: segments de clientèle

Grandes compagnies pétrolières indépendantes

ProTetro sert de grandes sociétés pétrolières indépendantes opérant dans le bassin du Permien, en mettant l'accent sur les régions à haute demande.

Catégorie client	Impact annuel sur les revenus	Pénétration du service
Grandes compagnies pétrolières indépendantes	487,6 millions de dollars	42.3%

Grandes sociétés pétrolières internationales

ProTetro fournit des services de fracturation hydrauliques spécialisés aux sociétés de pétrole mondiales.

Meilleurs clients d'entreprise	Valeur du contrat	Portée du service
Exxonmobil	213,4 millions de dollars	Opérations du bassin du Permien
Chevron	176,9 millions de dollars	Exploration de l'ouest du Texas

Entreprises d'exploration et de production

Propetro cible les sociétés d'exploration et de production ayant des services complets complets.

• Revenu total du segment du marché: 342,7 millions de dollars
• Durée du contrat moyen: 18-24 mois
• Couverture de service: bassin du Permien

Opérateurs de pétrole et de gaz non conventionnels

Proetro est spécialisée dans la fracturation hydraulique pour l'extraction des ressources non conventionnelles.

Type d'opérateur	Contrats de services annuels	Part de marché
Opérateurs non conventionnels	47 Contrats actifs	35.6%

Sociétés d'exploration de la région de schiste

ProTetro fournit des services spécialisés pour l'exploration et le développement de la région de schiste.

• Focus opérationnel primaire: bassin du Permien
• Revenus annuels des opérateurs de schiste: 276,5 millions de dollars
• Nombre de clients de la région de schiste actifs: 32 entreprises

ProTetro Holding Corp. (pompe) - Modèle d'entreprise: Structure des coûts

Acquisition et entretien de l'équipement

En 2023, les dépenses en capital de ProTetro étaient d'environ 250 millions de dollars, axées sur l'équipement de fracturation hydraulique et l'entretien des flotte. La flotte d'équipement de l'entreprise se compose de 26 unités de fracturation hydraulique d'une capacité totale de puissance de 435 000.

Catégorie d'équipement	Coût annuel	Cycle de remplacement
Unités de fracturation hydraulique	180 millions de dollars	7-10 ans
Véhicules spécialisés	45 millions de dollars	5-6 ans
Entretien et réparations	25 millions de dollars	Annuel

Formation de main-d'œuvre et de main-d'œuvre

Les coûts de la main-d'œuvre de Propetro pour 2023 ont totalisé environ 392 millions de dollars, avec un décompte moyen des employés de 2 100 travailleurs.

• Compensation annuelle moyenne des employés: 186 667 $
• Budget de formation et de développement: 5,2 millions de dollars
• Dépenses de formation en sécurité: 3,1 millions de dollars

Recherche et développement technologiques

En 2023, ProTetro a investi 18,5 millions de dollars dans la recherche et le développement technologiques, en se concentrant sur l'efficacité de la fracturation hydraulique et l'innovation de l'équipement.

Frais de carburant opérationnel et de transport

Catégorie de dépenses	Coût annuel
Carburant diesel	62 millions de dollars
Entretien des véhicules	22 millions de dollars
Logistique de transport	15 millions de dollars

Conformité réglementaire et investissements de sécurité

Propetro a alloué 14,3 millions de dollars pour les programmes de conformité et de sécurité réglementaires en 2023.

• Conformité environnementale: 6,2 millions de dollars
• Équipement de sécurité et protocoles: 5,1 millions de dollars
• Rapports réglementaires et documentation: 3 millions de dollars

Proetro Holding Corp. (Pump) - Modèle d'entreprise: Strots de revenus

Frais de service de fracturation hydraulique

Au troisième trimestre 2023, ProTetro a rapporté des revenus des services de fracturation hydraulique de 305,4 millions de dollars. L'entreprise exploite 21 flottes de fracturation hydraulique, générant des revenus à travers les taux de jour et les services d'achèvement pour les sociétés d'exploration pétrolière et gazière.

Catégorie de service	Revenus (T1 2023)	Pourcentage du total des revenus
Services de fracturation hydraulique	305,4 millions de dollars	62.3%

Location et location d'équipement

ProTetro génère des revenus de location d'équipement grâce à sa flotte complète d'équipements de champ pétrolifères spécialisés. En 2022, les revenus de location d'équipement ont totalisé environ 42,6 millions de dollars.

• Location de flotte de fracturation hydraulique
• Location d'équipement de forage spécialisé
• Location de l'équipement de pompage sous pression

Services de conseil technique

Les services de conseil technique ont généré 18,2 millions de dollars de revenus pour ProTetro en 2022, représentant des services de conseil spécialisés pour les opérations de forage et d'achèvement.

Bonus contractuels basés sur la performance

Les incitations à la performance et les primes de contrat ont contribué environ 12,7 millions de dollars à la source de revenus de Propetro en 2022, liée à l'efficacité opérationnelle et aux mesures d'achèvement des contrats.

Métrique de performance	Revenus bonus (2022)
Bonus d'efficacité opérationnelle	7,3 millions de dollars
Incitations d'achèvement du contrat	5,4 millions de dollars

Solutions technologiques spécialisées du champ pétrolier

Des solutions basées sur la technologie ont généré 22,5 millions de dollars de revenus pour ProTetro en 2022, y compris les services avancés d'analyse et d'optimisation des données.

• Services d'analyse de données
• Conseil d'optimisation technologique
• Solutions de technologie de forage avancé

ProPetro Holding Corp. (PUMP) - Canvas Business Model: Value Propositions

You're looking at the core reasons why E&P operators choose ProPetro Holding Corp. in the Permian Basin right now, late 2025. It's about efficiency, cleaner power, and locking in service reliability.

Lower operating costs for E&P customers via natural gas-fueled fleets.

The shift to cleaner fuel sources directly impacts the customer's bottom line. ProPetro Holding Corp.'s natural gas-burning hydraulic fracture equipment now represents about 75% of its total fleet as of the third quarter of 2025. This transition, which includes Tier IV DGB dual-fuel and FORCE® electric-powered equipment, is designed to deliver significant fuel savings compared to traditional diesel operations. The company's accelerated transition to next-generation, dual-fuel and electric fleets now comprises about 75% of its total fleet, positioning ProPetro Holding Corp. to capture premium contract pricing.

Reliable, low-emission power solutions through the PROPWR segment.

The PROPWR℠ division is a major value driver, offering power generation that meets increasing ESG and efficiency standards. You can see the rapid scaling in the numbers:

PROPWR Metric	Value as of Late 2025 Data
Total Contracted Capacity (Q3 2025)	Over 150 megawatts
Contracted Capacity Target (Year-End 2025)	At least 220 megawatts
Total Equipment Ordered	360 megawatts
Projected Delivered Capacity (Year-End 2028)	Approximately 750 megawatts
Inaugural Long-Term Contract (Permian E&P)	80 megawatts for 10 years
New Data Center Contract	60 megawatts

The company is aiming to multiply its installed capacity, with projections to surpass one gigawatt by 2030. This segment is also positioned to capitalize on anticipated load growth in the Permian of >4 GW.

Long-term contract stability, de-risking customer operations.

Securing long-term agreements provides revenue visibility that traditional day-rate work doesn't offer. As of the third quarter of 2025, approximately 70% of ProPetro Holding Corp.'s active hydraulic horsepower is secured under long-term contracts. This is up from about 50% in the first quarter of 2025. These agreements, particularly for the PROPWR business, can run for significant durations, such as the ten-year term on the 80 megawatt deal. Pricing within these long-term contracts for dual-fuel and electric fleets is generally stable, featuring semiannual, formulaic adjustments that typically result in low, single-digit changes.

Integrated well completion services: frac, cementing, wireline, and sand.

ProPetro Holding Corp. maintains a full suite of completion services, though the focus has sharpened. The hydraulic fracturing segment remains the core revenue generator, accounting for approximately 74.9% of total revenues as of March 31, 2025. The company bolstered its sand offering by completing the acquisition of Aqua Prop, LLC for wet sand solutions on May 31, 2024. However, the cementing business in Vernal, Utah, was sold on November 1, 2024, as part of a strategic repositioning to focus on core operations. The strength of the core completions business is evident in its cash generation: Free Cash Flow for the Completions Business in Q3 2025 was $25 million, bringing the year-to-date total through the third quarter to $92 million.

High-performance, technologically advanced equipment in the Permian.

The value proposition rests heavily on deploying premium, next-generation equipment. ProPetro Holding Corp. operated with a total available hydraulic horsepower (HHP) of 1,312,000 as of March 31, 2025. The fleet mix includes Tier IV DGB dual-fuel and FORCE® electric-powered equipment. In terms of active deployment in Q2 2025, the company had between 13 to 14 hydraulic fracturing fleets active. By Q3 2025, ProPetro Holding Corp. had executed contracts for a total of seven contracted fleets, which included two larger simul frac fleets. The company had four FORCE® fleets operating, with a fifth planned for deployment in 2025, as noted in February 2025 materials.

Finance: draft 13-week cash view by Friday.

ProPetro Holding Corp. (PUMP) - Canvas Business Model: Customer Relationships

You're looking at how ProPetro Holding Corp. (PUMP) locks in revenue and ensures asset utilization, which is key when the Permian Basin activity is shifting, as we saw with frac fleet counts dropping from around 90 to 100 at the start of 2025 to approximately 70 by the third quarter of 2025. The relationship strategy centers on securing long-term commitments, especially for its newer, capital-light ventures.

Long-term, take-or-pay contracts for e-fleets and PROPWR services.

The PROPWR℠ division is the prime example of this, securing midstream-like agreements that offer significant revenue visibility. The inaugural contract, signed with a Permian-focused E&P operator, is a 10-year agreement committing 80 megawatts of power generation capacity, which includes take-or-pay obligations. This was followed by another long-term deal to commit approximately 60 megawatts to a hyperscaler data center in the U.S. Midwest. As of the third quarter of 2025, ProPetro Holding Corp. had over 150 megawatts contracted, with management expressing confidence in reaching at least 220 megawatts contracted by the end of 2025, up from a total ordered capacity of approximately 220 megawatts. For the core completions business, the stickiness is also evident: as of the second quarter of 2025, over 50% of ProPetro's active hydraulic horsepower was under long-term contracts, a figure that improved to approximately 70% of active hydraulic horsepower committed under long-term contracts by the third quarter of 2025.

Here's a quick view of the key contracted assets as of late 2025:

Service/Asset Type	Contract Term	Committed Capacity/Count	Customer Type/Location
PROPWR℠ Power Generation	10-year	80 megawatts (Inaugural Contract)	Permian E&P Operator
PROPWR℠ Power Generation	Long-term	Approximately 60 megawatts	Hyperscaler Data Center (Midwest)
PROPWR℠ Total Contracted (Target)	Long-term	At least 220 megawatts (Expected by YE 2025)	Various (Oil & Gas/Data Center)
Hydraulic Fracturing Horsepower	Long-term	Approximately 70% of active horsepower	Top-tier E&P Operators
Contracted Hydraulic Fleets	Long-term	7 contracted fleets (including 2 large simul-frac fleets)	Permian Basin Customers

Dedicated fleet deployment for top-tier E&P operators.

The contracts are heavily weighted toward high-quality, top-tier Exploration & Production (E&P) operators, which provides a stable foundation even when overall market utilization dips. For the hydraulic fracturing fleet, the long-term contracts specifically cover advanced equipment, including two Tier IV DGB dual-fuel fleets and four FORCE® electric-powered hydraulic fracturing fleets as of Q2 2025. The company noted that one of the FORCE fleets is equivalent to two standard zipper fleets, meaning the four deployed FORCE fleets effectively support five fleet equivalents of equipment. This focus on next-generation assets under contract de-risks future earnings, as the company stated it intends to continue allocating capital to FORCE electric equipment due to its high demand and contract security.

Direct sales and service teams focused on the Permian Basin.

ProPetro Holding Corp. is fundamentally a Midland, Texas-based company whose primary operational focus remains the Permian Basin. The company cites its 'strong customer base, focus on the Permian, operational excellence,' as key indicators of its differentiated service offering. The PROPWR division's inaugural contract was explicitly executed in collaboration with a Permian-focused E&P operator. Furthermore, in Q1 2025, the company secured letters of intent on approximately 75 megawatts of long-term PROPWR service capacity with two separate operators in the Permian Basin. This geographic and customer concentration is a deliberate strategy to serve the most prolific hydrocarbon production area globally.

High-touch service model for complex well completion projects.

The service model for completions is designed around operational excellence and flexibility to handle the complexities of modern well designs. ProPetro emphasizes its ability to execute complex fracturing designs and optimize well performance. Even when activity slows, the company is committed to maintaining fleet health, stating it 'will not compromise it by operating assets at sub-economic levels.' The high-touch nature is also reflected in the PROPWR service scope, which includes asset provision, onsite operations, maintenance, monitoring, and an availability guarantee for the customer. This level of comprehensive service for their power solutions is designed to be 'utility-like,' providing reliability where traditional utility power is unavailable.

Finance: draft 13-week cash view by Friday.

ProPetro Holding Corp. (PUMP) - Canvas Business Model: Channels

Direct sales force to major and independent E&P operators.

ProPetro Holding Corp. engages directly with leading upstream oil and gas companies, primarily in the Permian Basin, for its completion services.

• Hydraulic Fracturing Q3 2025 revenue was $210.2 million.
• Year-to-date revenue through Q3 2025 reached $979.5 million.
• As of the Q3 2025 announcement, approximately 70% of the Company's active hydraulic horsepower is secured under long-term contracts.
• The total available Hydraulic Horsepower (HHP) as of June 30, 2025, was 1,307,000 HHP.
• The HHP breakdown included 440,000 HHP of Tier IV DGB dual-fuel equipment and 312,000 HHP of FORCE electric-powered equipment.

Long-term service agreements for hydraulic fracturing.

Commitments are secured through term contracts, often involving the deployment of next-generation, lower-emission fleets.

Contract Metric	Value/Detail
Total Contracted Fleets (as of Q3 2025)	Seven, including two larger simul frac fleets.
XTO Energy Inc. Agreement	Two committed FORCE electric-powered hydraulic fracturing fleets with an option for a third.
XTO Agreement Term	Three years, or for contracted hours, whichever occurs last per fleet.
Active Fleets in Q2 2025	13 to 14.
Projected Active Fleets in Q3 2025	Average of 10 to 11.

Direct contracts for PROPWR power generation services.

The PROPWR℠ division secures long-term, direct capacity commitment contracts with both E&P operators and non-oil and gas customers like data centers.

• Inaugural 10-year contract secured for 80 megawatts of power capacity with a Permian E&P operator.
• Subsequent contract secured for 60 megawatts to support a hyperscaler data center operator.
• Total contracted capacity expanded to over 150 megawatts as of the Q3 2025 announcement.
• Anticipated total capacity to reach at least 220 megawatts by year-end 2025.
• Total equipment orders increased to 360 megawatts.
• Projected PROPWR business capital expenditures incurred for full-year 2025 is approximately $170 million.
• The company anticipates approximately 750 megawatts delivered by year-end 2028.

In-house logistics and service delivery via subsidiaries (e.g., AquaProp).

AquaProp, acquired in May 2024, is integrated into the Hydraulic Fracturing segment to provide in-house logistics for wet sand solutions.

The operations of AquaProp contributed to a $17.4 million increase in revenues for the three months ended June 30, 2025, and a $38.8 million increase for the six months ended June 30, 2025. The cash consideration for the AquaProp Acquisition included $13.7 million paid to the seller and $3.7 million of deferred cash consideration paid in May 2025.

ProPetro Holding Corp. (PUMP) - Canvas Business Model: Customer Segments

ProPetro Holding Corp. focuses its customer base on sophisticated operators within the North American oil and natural gas sector, primarily in the Permian Basin, but is strategically expanding into industrial power solutions.

Upstream Oil and Gas Exploration & Production (E&P) companies.

The core clientele consists of Exploration and Production (E&P) companies that require high-intensity and complex hydraulic fracturing services for well completion and stimulation. ProPetro Holding Corp. emphasizes its relationships with what it terms its 'blue-chip customers,' which are among the most active and financially robust operators in key resource areas. The company's fleet is designed to handle the most complex fracturing jobs, which appeals to the largest and most demanding public and private E&P operating companies.

Major integrated and large independent oil companies in the Permian Basin.

ProPetro Holding Corp. has strategically focused its efforts on establishing a best-in-class hydraulic fracturing platform targeting the Permian Basin since 2010. The company actively serves both the Midland and Delaware sub-basins within the Permian. This focus caters to clients with large drilling inventories and sizeable rig programs. As of the second quarter of 2025, over 50% of ProPetro Holding Corp.'s active hydraulic horsepower was under long-term contracts, ensuring a degree of stability with these key Permian operators.

Hyperscaler data center developers (emerging PROPWR segment).

The PROPWR℠ business line represents a clear expansion beyond traditional oilfield services, targeting industrial applications requiring reliable power solutions. A major milestone was achieved in the second quarter of 2025 with the securing of an inaugural 10-year contract for approximately 80 megawatts of long-term PROPWR℠ service capacity with a leading E&P operator in the Permian Basin. By the third quarter of 2025, the company had increased its total contracted PROPWR℠ capacity to over 150 megawatts, with expectations to reach at least 220 megawatts by the end of 2025. The Power Generation segment began revenue-generating activities during the third quarter of 2025.

Here's the quick math on the PROPWR℠ capacity commitments as of late 2025:

Metric	Value	Date/Period
Total Contracted Capacity (Q3 2025)	Over 150 megawatts	Q3 2025
Year-End 2025 Contracted Capacity Target	At least 220 megawatts	End of 2025
Total Equipment Ordered	360 megawatts	As of Q3 2025
Projected Equipment Delivered	Approximately 750 megawatts	By year-end 2028
Inaugural E&P Contract Capacity	80 megawatts	Secured Q2 2025

Customers prioritizing low-emissions and fuel cost savings.

Customer selection criteria are increasingly influenced by the desire to reduce environmental impact, alongside traditional factors like operational efficiency and service quality. ProPetro Holding Corp. attracts these customers by offering advanced, low-emission hydraulic fracturing fleets. By the close of 2024, approximately 75% of the company's hydraulic fracturing capacity utilized these cleaner fleets, which include Tier IV DGB dual-fuel and FORCE electric-powered options. This focus on next-generation services is a direct response to market demand for more environmentally conscious and efficient completions services.

Key fleet statistics reflecting this customer priority include:

• Approximately 75% of active hydraulic horsepower utilized cleaner fleets (Tier IV DGB dual-fuel and electric) by year-end 2024.
• As of Q3 2025, approximately 70% of active hydraulic horsepower is secured under long-term contracts.
• The company had four FORCE electric fleets operational under contract by the end of 2024, with a fifth expected in early 2025.
• The company invested over $1 billion in these advanced fleets between 2022 and 2023.

ProPetro Holding Corp. (PUMP) - Canvas Business Model: Cost Structure

You're looking at the hard numbers driving ProPetro Holding Corp.'s operations as of late 2025. The cost structure is heavily weighted toward capital deployment for future growth, specifically in the PROPWR℠ segment, alongside managing the existing specialized fleet.

Full-year 2025 capital expenditures incurred are now guided to be between $270 million and $290 million. This reflects a slight reduction from previous guidance, showing cost optimization efforts even while investing heavily elsewhere. The completions business portion of this spend is expected to be $80 million to $100 million for the full year. That's where the maintenance and repair costs for the specialized equipment fleet factor in; for instance, Q3 2025 incurred CapEx included approximately $20 million dedicated to maintenance within the completions business.

The PROPWR℠ expansion is a major cost driver. ProPetro Holding Corp. anticipates incurring approximately $190 million in capital expenditures for the PROPWR business in 2025, driven by accelerated delivery schedules and down payments supporting new orders. For context, in the third quarter of 2025 alone, capital expenditures incurred totaled $98 million, with about $79 million of that supporting PROPWR orders.

Operating expenses include significant fixed commitments, such as the lease costs for the electric fleets. We saw electric fleet lease expense hit $15 million in the third quarter of 2025. Also, general and administrative (G&A) expense for Q3 2025 was $22 million, down from $28 million in the prior quarter, showing some immediate cost control in overhead. The cost of services, excluding depreciation and amortization of about $39 million in Q3 2025, stood at $237 million for that quarter.

Here's a quick look at the key 2025 financial figures we have for the cost side of the equation:

Cost Category/Metric	Amount/Range (2025)	Period/Context
Total Capital Expenditures Incurred (Guidance)	$270M - $290M	Full Year 2025
PROPWR Capital Expenditures Incurred (Estimate)	~$190 Million	Full Year 2025
Completions Business CapEx Incurred (Guidance)	$80M - $100M	Full Year 2025
Maintenance CapEx (Completions)	~$20 Million	Q3 2025 Incurred
Electric Fleet Lease Expense	$15 Million	Q3 2025
Cost of Services (Excl. D&A)	$237 Million	Q3 2025
General and Administrative Expense	$22 Million	Q3 2025

You should also track the following cost-related guidance points:

• PROPWR capital expenditures projected for 2026 range from $200 million to $250 million.
• Capital expenditures paid in Q3 2025 were $44 million.
• Total liquidity at September 30, 2025, was $158 million.
• The company executed a letter of intent for a $350 million lease financing facility to fund PROPWR growth.

ProPetro Holding Corp. (PUMP) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for ProPetro Holding Corp. (PUMP) as of late 2025, which shows a clear reliance on core services while aggressively building out a new power segment.

The Hydraulic Fracturing Services revenue remains the primary engine, though utilization moderated slightly in the third quarter. For Q3 2025, this core business generated $210.2 million in revenue. This segment's stability is being enhanced by securing more work under longer-term agreements; approximately 70% of the Company's active hydraulic horsepower is now secured under long-term contracts.

The total top-line performance for the third quarter of 2025 was $294 million. This figure represents a 10% decrease from the prior quarter's $326 million.

The revenue streams are detailed below, showing the segment contribution for the third quarter of 2025:

Revenue Stream	Q3 2025 Revenue (Millions USD)
Hydraulic Fracturing Services	$210.2
Wireline Services	$52.2
Cementing Services	$31.6
Power Generation (PROPWR℠)	Modestly contributing

Complementary services, which include Wireline and Cementing, added significant top-line support alongside the core frac business. Sand logistics is also part of this service offering, supporting the primary operations.

The emerging PROPWR power generation service revenue is a key focus for future stability. While it only began contributing modestly to the Q3 2025 revenue, major contract milestones were achieved:

• Secured an inaugural 10-year contract for approximately 80 megawatts of capacity with a Permian-focused E&P operator, announced in Q2 2025.
• In Q3 2025, ProPetro Holding Corp. secured a separate long-term contract to commit 60 megawatts of power capacity to a leading hyperscaler data center.
• Total contracted capacity expanded to over 150 megawatts as of the end of Q3 2025.
• The company anticipates reaching at least 220 megawatts of contracted capacity by the end of 2025.

The push for revenue from long-term contracts is evident across both primary and new segments, aiming to provide stable, predictable cash flow. For the completions business, approximately 70% of active hydraulic horsepower is now under contract. The PROPWR contracts, like the 10-year agreement, lock in future revenue streams for the power division.

Here's a quick look at the cash flow metrics supporting these operations from Q3 2025:

• Net cash provided by operating activities was $42 million.
• Free Cash Flow for the Completions Business was $25 million for the quarter.
• Year-to-date total Free Cash Flow for the Completions Business reached $92 million through Q3 2025.

Finance: draft 13-week cash view by Friday.