ProPetro's PROPWR unit signs 230 MW power deal with Targa Resources

ProPetro Holding Corp. (NYSE: PUMP) announced that its PROPWR business unit has signed new contracts with a subsidiary of Targa Resources Corp. (NYSE: TRGP) to commit approximately 230 megawatts of power generation capacity.

With the addition of these contracts, total capacity committed under contract for PROPWR stands at approximately 510 MW, a figure that also reflects previously announced oil and gas power capacity that is no longer committed under contract.

The long-term contracts will provide behind-the-meter power to support Targa's natural gas processing infrastructure in the Permian Basin, with full deployment expected in early 2028.

ProPetro said the recontracting allows PROPWR to redeploy associated capacity to Targa and make additional megawatts available for potential data center deployments in 2027 and beyond.

Sam Sledge, Chief Executive Officer of ProPetro, said in a statement: "These contracts reflect the significant and growing demand for reliable, behind-the-meter power across the energy value chain, and the essential role midstream infrastructure plays in moving Permian gas to various end markets."

ProPetro is headquartered in Midland, Texas, and provides completion services to upstream oil and gas companies. Its PROPWR division offers gas-to-power solutions to data center, oil and gas, and industrial customers.

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