ProPetro Holding Corp. announced a $350 million lease facility from Eldridge Capital Management for its power‑generation subsidiary, ProPetro Energy Solutions (PROPWR). The facility provides growth capital to acquire new gas‑turbine and reciprocating‑engine assets and expand its commercial pipeline across oilfield, industrial, and data‑center markets.
The financing is a key milestone in PROPWR’s strategy to deliver 750 megawatts of power capacity by 2028. The lease will support the acquisition of high‑efficiency natural‑gas reciprocating engine generators and modular turbines that underpin the company’s take‑or‑pay contracts in the Permian Basin and beyond.
ProPetro’s broader transformation plan seeks to shift from a cyclical hydraulic‑fracturing services model to a more predictable, infrastructure‑focused business. The $350 million facility strengthens the subsidiary’s balance sheet and positions it to capture additional market share in the growing data‑center and industrial power markets, where electricity demand outpaces grid availability.
The deal follows a series of capital‑raising moves, including a $163 million equity offering in January 2026 and debt arrangements with Caterpillar Financial Services. Together, these financing sources enable PROPWR to pursue its aggressive capacity expansion and support the company’s goal of reaching 1 gigawatt of power capacity by 2030.
Management highlighted the strategic fit of the lease, noting that Eldridge’s asset‑based credit strategy aligns with PROPWR’s growth trajectory. The transaction underscores ProPetro’s ability to leverage its core completions business to fund diversification, as the company’s Q4 2025 earnings beat—driven by strong free cash flow from completions—provided the financial foundation for the PROPWR investments.
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