07:41 AM EST, 12/12/2025 (MT Newswires) -- ProPetro Holding ( PUMP ) said Friday its PROPWR division has executed a contract to offer turnkey power for the development and installation of distributed microgrids throughout the Permian Basin's New Mexico portion with a Coterra Energy ( CTRA ) unit.

Deployment and operations are slated to start in Q1.

The company said PROPWR has placed orders for an additional 190 megawatts of equipment, with deliveries of all units expected by the end of 2027.

PROPWR now projects 2026 capital expenditures at $250 million to $275 million, above its previous outlook range of $200 million to $250 million.

The company said it's in the advanced stages of negotiating definitive documentation regarding a $350 million lease finance facility.

ProPetro ( PUMP ) shares were up 2.4% in recent premarket activity, while Coterra was little changed.