Oilfield services firm ProPetro cuts almost 150 workers - sources [Reuters]
ProPetro Holding Corp. (PUMP)
Last propetro holding corp. earnings: 3/31 04:54 pm
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Source: Reuters
Oilfield services firm ProPetro cuts almost 150 workers: sources (Reuters) - ProPetro Holding Corp ( PUMP.N The job cuts reflect slowing shale activity due to weak prices for oil and gas, and producers exhausting their spending budgets for the year, one of the people said. Midland, Texas-based ProPetro said last week it would cut the number of hydraulic fracturing fleets operated this quarter by as much as 28%, far surpassing analysts’ expectations. The fleets send water, sand and chemicals at high pressures underground to release trapped oil and gas. The layoffs represent a roughly 9.5% reduction in staff, based on the company’s latest annual filing. The job cuts came amid a board committee’s fact-finding review of past accounting practices, which has prompted a shake-up of top management and required senior executives to reimburse the company roughly $370,000. No senior executives were affected by the job cuts, which were unrelated to the accounting probe, the person said. Halliburt
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PUMP
News
- ProPetro Increases Share Repurchase Authorization to $200 million [Yahoo! Finance]Yahoo! Finance
- ProPetro Increases Share Repurchase Authorization to $200 millionBusiness Wire
- ProPetro Announces First Quarter 2024 Earnings CallBusiness Wire
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of ProPetro Holding Corp. - PUMPGlobeNewswire
- SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of ProPetro Holding Corp. - PUMPPR Newswire
PUMP
Earnings
- 2/21/24 - Miss
PUMP
Sec Filings
- 4/25/24 - Form 8-K
- 4/24/24 - Form 4
- 4/24/24 - Form 4
- PUMP's page on the SEC website