ProPetro Holding stock reports a 230 MW power deal

ProPetro Holding stock stood at USD 9.80 on the NYSE on September 23, 2026, down 2.29 percent from the previous close and 47.03 percent below its 52-week high of USD 18.50. The company also committed 230 megawatts of power capacity to a Targa Resources subsidiary through its PROPWR division, as Stock Titan reported for the September 22, 2026 filing.

PROPWR reaches 510 MW

The contracts lift PROPWR's committed capacity to 510 MW, with full deployment expected by early 2028. The power will support Targa's natural gas processing infrastructure in the Permian Basin, while capacity freed by the recontracting may support data center deployments in 2027 and beyond.

The contract is important because it adds a concrete customer commitment to ProPetro's power strategy rather than relying solely on future demand. The company had disclosed 350 MW of contracted PROPWR capacity in July, making the new agreement a material expansion of the unit's commercial footprint.

Revenue rises 13 percent sequentially

ProPetro generated Q2 2026 revenue of USD 305.8 million, up 13 percent from USD 270.7 million in Q1 2026. Adjusted EBITDA reached USD 44.8 million, equal to a 15 percent margin, while the quarter produced a net loss of USD 8.1 million, or USD 0.07 per diluted share, according to Prism MarketView.

The figures show a split operating picture. Revenue and adjusted EBITDA improved sequentially, but the net loss keeps profitability as the key counterweight to the company's expansion spending.

Stock remains below yearly high

At USD 9.80 on September 23, 2026, ProPetro Holding stock was USD 8.70 below its 52-week high and traded within a range of USD 4.87 to USD 18.50. The market capitalization was USD 1,203,674,387, while trading volume reached 3,973,921 shares.

For investors, the 230 MW contract and the 510 MW contracted-capacity figure provide measurable milestones for PROPWR. The next financial test is whether the higher revenue base can translate into earnings as power assets and additional fracturing capacity are deployed.