In March 2013, Energy Capital announced the acquisition of ProPetro Services, a Midland, Texas based oilfield service provider. ProPetro is a leading provider of critical well completion and drilling services to upstream oil and gas customers throughout the Permian Basin, the Mid-Continent, and the Uinta-Piceance region of the Rocky Mountains.
In March 2017, ProPetro successfully completed its Initial Public Offering IPO and now trades on the NYSE under the ticker symbol “PUMP.”
The company offers a diversified suite of integrated services, including pressure pumping, land drilling, coiled tubing, cementing and flowback, which provide a balanced exposure to all stages of a well’s life cycle. The company’s operations are predominantly focused in the Permian Basin and well positioned to take advantage of the expected continuation of unconventional drilling activity levels in the region.