ProPetro Announces Expansion of Revolving Credit Facility
ProPetro Holding Corp. (PUMP)
Last propetro holding corp. earnings: 3/31 04:54 pm
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US:NASDAQ Investor Relations:
ir.propetroservices.com
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Source: Business Wire
50% Increase in Revolver Capacity MIDLAND, Texas--(BUSINESS WIRE)--ProPetro Holding Corp. (“ProPetro” or “the Company”) (NYSE: PUMP) today announced the expansion of its existing asset-based loan facility (the “Amended ABL”) to $300 million – a 50% increase over the previous cap of $200 million. The Amended ABL will provide additional flexibility in connection with the Company’s previously announced acquisition of Pioneer Natural Resources Company’s (NYSE: PXD) (“Pioneer”) pressure pumping assets. In addition, ProPetro will become a strategic long-term service provider to Pioneer, providing pressure pumping and related services for a term of up to 10 years. The transaction remains on schedule for closing at the end of this month.Pro-forma for the Pioneer transaction, the Company will have a net debt to LTM EBITDA ratio of below 1.0x and plans to remain at this level or below for the foreseeable future.Jeff Smith, Chief Financial Officer, commented, “We look forward to strong a sta
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PUMP
News
- ProPetro Holding Corp. (NYSE: PUMP) had its price target raised by analysts at Barclays PLC from $12.00 to $13.00. They now have an "overweight" rating on the stock.MarketBeat
- ProPetro Holding Corp. (NYSE: PUMP) had its "hold" rating re-affirmed by analysts at Benchmark Co..MarketBeat
- ProPetro Holding Corp. (NYSE:PUMP) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- ProPetro (PUMP) Q1 Earnings Beat Estimates, Revenues Fall Y/Y [Yahoo! Finance]Yahoo! Finance
- ProPetro Reports Financial Results for the First Quarter of 2024 [Yahoo! Finance]Yahoo! Finance
PUMP
Earnings
- 5/1/24 - Beat
PUMP
Sec Filings
- 5/10/24 - Form 4
- 5/6/24 - Form 4
- 5/6/24 - Form 144
- PUMP's page on the SEC website