ProPetro has signed a three-year agreement to provide electric hydraulic fracturing services for Exxon Mobil’s Permian Basin operations.
ProPetro will deliver and dedicate its FORCE electric-powered hydraulic fracturing fleet services coupled with their Silvertip wireline and other pumpdown services to provide fracture stimulation pumping for Exxon, the company said in an April 29 press release.
The agreement includes the deployment of two FORCE electric hydraulic fracturing fleets, wireline, and pumpdown services in the first half of 2024 with an option for a third FORCE 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.
"This step is a significant moment for us, showcasing our collaboration with a leading global energy provider to deliver innovative, cost-effective, and more environmentally friendly energy service solutions through our multi-year agreement,” ProPetro’s CEO Sam Sledge said. “This commitment, which includes electric hydraulic fracturing, wireline, and pumpdown services, underlines our dedication to leading the industry with high-quality, low-emission, and industrialized services."
Recommended Reading
For Sale, Again: Oily Northern Midland’s HighPeak Energy
2024-03-08 - The E&P is looking to hitch a ride on heated, renewed Permian Basin M&A.
TotalEnergies Acquires Eagle Ford Interest, Ups Texas NatGas Production
2024-04-08 - TotalEnergies’ 20% interest in the Eagle Ford’s Dorado Field will increase its natural gas production in Texas by 50 MMcf/d in 2024.
CEO: Continental Adds Midland Basin Acreage, Explores Woodford, Barnett
2024-04-11 - Continental Resources is adding leases in Midland and Ector counties, Texas, as the private E&P hunts for drilling locations to explore. Continental is also testing deeper Barnett and Woodford intervals across its Permian footprint, CEO Doug Lawler said in an exclusive interview.
Halliburton’s Low-key M&A Strategy Remains Unchanged
2024-04-23 - Halliburton CEO Jeff Miller says expected organic growth generates more shareholder value than following consolidation trends, such as chief rival SLB’s plans to buy ChampionX.
Galp Seeks to Sell Stake in Namibia Oilfield After Discovery, Sources Say
2024-04-22 - Portuguese oil company Galp Energia has launched the sale of half of its stake in an exploration block offshore Namibia.