ProPetro Services, Inc
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ProPetro Services, Inc - overview
Established
2005
Location
-, TX, US
Primary Industry
Oil & Gas
About
ProPetro Services, Inc is an oilfield service provider specializing in hydraulic fracturing and complementary services for the upstream oil and gas sector, primarily in North America. Founded in 2005 in Midland, US, ProPetro Services, Inc provides oilfield services specifically tailored for the exploration and production of oil and natural gas. The company has engaged in two significant deals, with its most recent deal taking place on March 16, 2017. Mike Wood is the founder, while Ahmad Salih, Phillip Gobe, and Sam Sledge serve as current executives.
ProPetro Services specializes in hydraulic fracturing and complementary services for upstream oil and gas companies involved in the exploration and production of unconventional oil and gas resources in North America. Their offerings include advanced hydraulic fracturing services, cementing operations, and specialized wireline services, optimizing resource extraction in the Permian Basin among other key locations across Texas and New Mexico. For the year 2024, ProPetro Services reported a revenue of USD 1,444. 29 mn and an EBITDA of USD 45.
21 mn. They generate income through performance-based service contracts like hydraulic fracturing, cementing, and wireline services, where clients pay based on project execution and services rendered. ProPetro Services plans to leverage the proceeds from the USD 750 mn raised through the sale of 25 million shares at USD 14 per share in June 2019 to enhance its service offerings and expand into new geographic markets. Their strategy includes designing and launching new products aimed at increasing operational efficiency.
Specific target markets for expansion include regions within the United States where oil production is on the rise, with plans to implement these expansions following their most recent fundraising efforts.
Primary Industry
Oil & Gas
Sub Industries
Oil & Gas Equipment and Services
Website
www.propetroservices.com/
Company Stage
Mature
Total Amount Raised
Subscriber access only
ProPetro Services, Inc - financials
| Fiscal Year Ended | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 981,865,000 | 1,704,562,000 | 2,052,314,000 | 789,232,000 | 874,514,000 | 1,279,701,000 | - | - | - |
| % Revenue Growth (YoY) | - | 73.6% | 20.4% | (61.5%) | 10.8% | 46.3% | - | - | - |
| EBITDA (USD) | 84,990,000 | 321,825,000 | 367,208,000 | 22,590,000 | 65,223,000 | 126,302,000 | - | - | - |
| Operating Income (USD) | 24,113,000 | 232,669,000 | 221,362,000 | (131,243,000) | (68,696,000) | (2,591,000) | - | - | - |
| Operating Margin | 2.5% | 13.6% | 10.8% | (16.6%) | (7.9%) | (0.2%) | - | - | - |
| % EBITDA Margin | 8.7% | 18.9% | 17.9% | 2.9% | 7.5% | 9.9% | - | - | - |
| NET Income (USD) | 12,613,000 | 173,862,000 | 163,010,000 | (107,020,000) | (54,185,000) | 2,030,000 | - | - | - |
| % Net Margin | 1.3% | 10.2% | 7.9% | (13.6%) | (6.2%) | 0.2% | - | - | - |
ProPetro Services, Inc - deals
| Deals Type | Deal Status | Target (s) | Deal Date | Investor(s) | Seller(s) | Deal size (Mn) | Enterprise value (Mn) | Post-money valuation (Mn) | EBITDA multiple (x) | Revenue multiple (x) | Lead partner (s) |
|---|---|---|---|---|---|---|---|---|---|---|---|
| IPO | Completed | ProPetro Services, Inc | - | ||||||||
| Buyout | Completed | ProPetro Services, Inc | - |
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ProPetro Services, Inc - key contacts
| Name | Position | Start Date | End Date | Vcard | Bio | ||
|---|---|---|---|---|---|---|---|
| President | Co-Founder | Board Member | BM |
BM Board Member
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