ProPetro is a Permian Basin-focused oilfield services company whose core business is hydraulic fracturing — pumping fluid and proppant into horizontal shale wellbores at high pressure to stimulate oil and gas production. ProPetro operates roughly 10–15 active frac fleets in the Permian, with total available capacity of approximately 1.26 million hydraulic horsepower (HHP). The fleet is transitioning toward lower-emission equipment, with about 75% of active capacity now burning natural gas rather than diesel, split across electric-powered FORCE fleets and Tier IV dual-fuel fleets. ProPetro also offers wireline and cementing services through its Silvertip and Par Five businesses, and wet sand logistics through AquaProp — each complementary to its core frac operations. Customers include ExxonMobil, Occidental Petroleum, EOG Resources, and Permian Resources, which together account for roughly 62% of revenue. ProPetro earns revenue by deploying fleets to E&P customers under dedicated long-term contracts or spot arrangements, with profitability driven primarily by fleet utilization, pricing, and equipment mix. The company is also building a power generation business, PROPWR, which deploys mobile natural gas-fueled power to oilfield, industrial, and data center customers under multi-year take-or-pay contracts. PROPWR had roughly 240 megawatts of committed capacity as of early 2026, with 550 megawatts of equipment on order or received, and ProPetro is targeting at least 750 megawatts of capacity by year-end 2028.