ProPetro gains on microgrid deal with Coterra Energy

Coterra Energy

12/12/2025 13:21

** Shares of oilfield services provider ProPetro PUMP.N rise 3.2% to $11.50 premarket

** Co says its power service division PROPWR signs deal with a subsidiary of oil and gas company Coterra Energy CTRA.N

** Companies will provide power for the development and installation of distributed microgrids throughout the New Mexico portion of the Permian Basin

** With this deal, PROPWR has over 220 megawatts (MW) committed under contract, and has placed orders for an additional 190 MW of equipment, its total on-order capacity now about 550 MW

** The division's capital expenditure for 2026 is expected to be between $250 million and $275 million

** Up to last close, stock was up 19.4% YTD

(Reporting by Pranav Mathur in Bengaluru)

((Pranav.Mathur@thomsonreuters.com;))