ProPetro signs 230 MW Permian power deal with Targa

ProPetro’s PROPWR unit expands contracted power capacity with a long-term deal supporting Targa’s Permian gas processing and future data center demand.

Rhea-AI Filing Summary

ProPetro Holding Corp. (PUMP) announced that its PROPWR division has signed new long‑term power contracts committing approximately 230 megawatts of generation capacity to a subsidiary of Targa Resources Corp. With these agreements, PROPWR now has approximately 510 MW of capacity committed under contract, reflecting a recontracting of previously committed oil and gas power capacity. The redeployed capacity supports Targa’s natural gas processing infrastructure in the Permian Basin and is expected to be fully deployed by early 2028. The transaction also frees up additional megawatts that PROPWR may allocate to potential data center deployments in 2027 and beyond, aligning the business with rising LNG export and data center‑driven power demand.

8-K Event Classification

2 items: 7.01, 9.01

2 items

Item 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

New capacity committed to Targa: 230 MW Total PROPWR capacity under contract: 510 MW Data center deployment timing: 2027 and beyond +1 more

4 metrics

New capacity committed to Targa 230 MW Power generation capacity PROPWR will commit under new contracts

Total PROPWR capacity under contract 510 MW Committed power generation capacity after adding the Targa contracts

Data center deployment timing 2027 and beyond Potential timing for additional megawatts to be deployed to data centers

Full deployment timing for Targa contracts Early 2028 Expected timing for full deployment of behind-the-meter power to Targa

Key Terms

behind-the-meter power, liquefied natural gas, data center, gas-to-power solutions, +1 more

5 terms

behind-the-meter power technical

"These long-term contracts will provide behind-the-meter power to support Targa’s"

Power generated, stored or used on the customer’s side of the utility meter—such as rooftop solar, on-site batteries, or smart controls—so it never passes through the public utility’s meter. Investors care because behind-the-meter systems reduce a building’s reliance on grid electricity, lower energy bills, offer backup power, and can change demand patterns that affect utility revenues, energy cost forecasts, and the value of companies in energy, real estate and technology.

liquefied natural gas technical

"Growing liquefied natural gas (“LNG”) export demand along the U.S. Gulf Coast;"

Liquefied natural gas (LNG) is natural gas that has been cooled into a liquid so it can be shipped and stored more easily—think of it like condensing a bulky gas into a compact, refrigerated form for transport. It matters to investors because LNG supply, shipping capacity, and long-term contracts influence energy prices, company revenues, and exposure to geopolitical or infrastructure risks, much like how a clogged highway can delay deliveries and raise costs.

data center technical

"make additional megawatts available for potential data center deployments in 2027"

A data center is a secure facility that houses large numbers of computers, storage devices and networking gear that run, store and move digital information for businesses and online services. Investors treat data centers like modern warehouses: their occupancy, energy efficiency, connectivity and long-term service contracts drive steady revenue and capital needs, so changes in demand or costs can directly affect profitability and growth prospects.

gas-to-power solutions technical

"a modern, standardized fleet of gas-to-power solutions, serving data center, oil"

forward-looking statements regulatory

"Except for historical information contained herein, the statements and information in this news release are forward-looking statements"

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did ProPetro (PUMP) announce regarding new power contracts?

ProPetro announced that its PROPWR business unit entered into new long-term contracts with a subsidiary of Targa Resources Corp., under which PROPWR will commit approximately 230 MW of power generation capacity to support Targa’s natural gas processing infrastructure in the Permian Basin.

How much total power capacity does PROPWR have under contract after this deal for PUMP?

After these new contracts, PROPWR has approximately 510 MW of power generation capacity committed under contract. This total reflects previously announced oil and gas power capacity that is no longer committed and has been recontracted.

When is the new power capacity for Targa expected to be fully deployed?

The long-term contracts are expected to be fully deployed in early 2028, providing behind-the-meter power to support Targa’s continued investment in natural gas processing infrastructure in the Permian Basin.

How does this agreement position ProPetro (PUMP) for data center opportunities?

By recontracting previously committed capacity to Targa, PROPWR can redeploy associated capacity and make additional megawatts available for potential data center deployments in 2027 and beyond, aligning with increasing power demand from data center and AI infrastructure.

What kind of power solution will PROPWR provide under these contracts?

PROPWR will provide behind-the-meter power to Targa’s natural gas processing infrastructure in the Permian Basin, using its modern, standardized gas-to-power solutions to deliver reliable power at scale.

Who is the counterparty in ProPetro’s (PUMP) new power contracts?

The contracts are with a subsidiary of Targa Resources Corp., described as a large, investment-grade energy infrastructure company and one of the premier midstream operators in the United States.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/22/2026 - 04:14 PM Accepted by SEC EDGAR 09/22/2026 - 04:14 PM Learn about SEC filing dates

false000168024700016802472026-09-222026-09-22

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549 

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): September 22, 2026

ProPetro Holding Corp.

(Exact name of registrant as specified in its charter)

Delaware

001-38035

26-3685382

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

One Marienfeld Place, 110 N. Marienfeld Street, Suite 300, Midland, Texas 79701

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (432) 688-0012

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: 

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class			Trading Symbol(s)			Name of each exchange on which registered
Common Stock, par value $0.001 per share			PUMP			New York Stock Exchange
						NYSE Texas, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o

Item 7.01 Regulation FD Disclosure

On September 22, 2026, ProPetro Holding Corp. (the “Company”) issued a press release announcing that its wholly owned subsidiary, ProPetro Energy Solutions, LLC (“PROPWR”) has entered into contracts to commit approximately 230 megawatts of power generation capacity to a subsidiary of Targa Resources Corp., a large energy infrastructure company in the Permian Basin. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished with this report, including Exhibit 99.1, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number						Description of Exhibit
99.1						Press Release dated September 22, 2026.
104						Cover Page Interactive Data File. The cover page XBRL tags are embedded within the inline XBRL document (contained in Exhibit 101)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: September 22, 2026

PROPETRO HOLDING CORP.

/s/ John J. Mitchell

John J. Mitchell
General Counsel and Corporate Secretary

EXHIBIT 99.1

PROPWR Signs New Power Contracts to Commit Approximately 230 Megawatts to Targa Resources Corp.

MIDLAND, Texas, September 22, 2026, (Business Wire) – ProPetro Holding Corp. (NYSE: PUMP) (“ProPetro”) today announced that its PROPWR business unit has entered into new contracts with a subsidiary of Targa Resources Corp. (NYSE: TRGP) (“Targa”), a large energy infrastructure company, for which PROPWR will commit approximately 230 megawatts (“MW”) of power generation capacity. With the addition of these contracts, total capacity committed under contract for PROPWR now stands at approximately 510 MW, which also reflects previously announced oil and gas power capacity that is no longer committed under contract. This recontracting allows PROPWR to redeploy the associated capacity to Targa and to make additional megawatts available for potential data center deployments in 2027 and beyond.

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

Importantly, this infrastructure supports continued growth in U.S. natural gas production needed to serve strong and growing demand for natural gas, including:

•Growing liquefied natural gas (“LNG”) export demand along the U.S. Gulf Coast;

•Increasing investment in power generation to serve the rapid buildout of data center and artificial intelligence infrastructure; and

•Additional grid-connected gas generation resources needed to meet load growth and improve reliability across U.S. power markets.

Sam Sledge, Chief Executive Officer of ProPetro, commented, “We are thrilled to establish a new long-term relationship with Targa, one of the premier midstream operators in the country. 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. Targa is a large, investment-grade counterparty, and these awards highlight PROPWR’s ability to deliver dependable power at scale. We view this as the start of a durable partnership and expect to be a reliable power provider to Targa for many years to come as they continue to expand their infrastructure footprint.”

About ProPetro

ProPetro Holding Corp. is a Midland, Texas based provider of premium completion services to upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources. Through its PROPWR division, ProPetro also delivers reliable, adaptable power services through a modern, standardized fleet of gas-to-power solutions, serving data center, oil and gas, and industrial customers in the United States. ProPetro helps bring reliable energy to the world, enabling operational excellence and energy reliability for their customers. For more information, visit www.propetroservices.com.

Forward-Looking Statements

Except for historical information contained herein, the statements and information in this news release are forward-looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Statements that are predictive in nature,

EXHIBIT 99.1

that depend upon or refer to future events or conditions or that include the words “may,” “could,” “confident,” “plan,” “project,” “budget,” “design,” “predict,” “pursue,” “target,” “seek,” “objective,” “believe,” “expect,” “anticipate,” “intend,” “estimate,” “will,” “should,” “continue,” and other expressions that are predictions of, or indicate, future events and trends or that do not relate to historical matters generally identify forward‑looking statements. Our forward‑looking statements include, among other matters, statements about the supply of and demand for hydrocarbons, LNG export demand, energy demand from data centers, including the associated demand for natural gas, industry trends and activity levels, our business strategy, projected financial results and future financial performance, the ability to obtain capital and/or financing on attractive terms, expected fleet and other equipment utilization, the future performance of newly improved technology, expected capital expenditures, the impact of such expenditures on our performance and capital programs, and the anticipated growth prospects of PROPWR, including the demand for its services, types of customers and the ability to secure long-term contracts, the ability to procure additional equipment, and timely receipt of such equipment and successful deployment. A forward‑looking statement may include a statement of the assumptions or bases underlying the forward‑looking statement. We believe that we have chosen these assumptions or bases in good faith and that they are reasonable.

Although forward‑looking statements reflect our good faith beliefs at the time they are made, forward-looking statements are subject to a number of risks and uncertainties that may cause actual events and results to differ materially from the forward-looking statements. Such risks and uncertainties include the volatility of oil prices, changes in the supply of and demand for power generation, the risks associated with the establishment of a new service line, including delays, lack of customer acceptance and cost overruns, the global macroeconomic uncertainty related to conflict in the Middle East region, including the Iran War, the Russia-Ukraine war, and events in Venezuela, general economic conditions, including the impact of continued inflation, central bank policy actions, the risk of a global recession, U.S. and global trade policy, including the imposition of tariffs and retaliatory measures, and other factors described in the Company's Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, particularly the “Risk Factors” sections of such filings, and other filings with the Securities and Exchange Commission (the “SEC”). In addition, the Company may be subject to currently unforeseen risks that may have a materially adverse impact on it. Accordingly, no assurances can be given that the actual events and results will not be materially different than the anticipated results described in the forward-looking statements. Readers are cautioned not to place undue reliance on such forward-looking statements and are urged to carefully review and consider the various disclosures made in the Company’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other filings made with the SEC from time to time that disclose risks and uncertainties that may affect the Company’s business. The forward-looking statements in this news release are made as of the date of this news release. ProPetro does not undertake, and expressly disclaims, any duty to publicly update these statements, whether as a result of new information, new developments or otherwise, except to the extent that disclosure is required by law.

Investor Contact:

Matt Augustine

Vice President, Finance and Investor Relations

EXHIBIT 99.1

matt.augustine@propetroservices.com

432-219-7620

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EX-99.1 14.6 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 2.0 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE DOCUMENT 15.1 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 26.7 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 15.8 KB