ProPetro Holding Corp. announced on September 22, 2026, that its subsidiary, ProPetro Energy Solutions (PROPWR), has entered into new contracts to commit approximately 230 megawatts of power generation capacity to a subsidiary of Targa Resources Corp. (NYSE: TRGP). The contracts will provide behind-the-meter power to support Targa’s continued investment in natural gas processing infrastructure within the Permian Basin.
The announcement notes that the addition of these contracts brings the total capacity committed under contract for PROPWR to approximately 510 MW. This figure reflects previously announced oil and gas power capacity that is no longer committed under contract, allowing PROPWR to redeploy that capacity to Targa. The company stated that this recontracting allows for the availability of additional megawatts for potential data center deployments in 2027 and beyond.
Full deployment of the infrastructure is expected in early 2028. The company highlighted that the power supply supports the growth in U.S. natural gas production required to meet demand for liquefied natural gas exports, power generation for data centers, and grid-connected gas generation resources.
Sam Sledge, Chief Executive Officer of ProPetro, commented on the agreement, stating that Targa is a large, investment-grade counterparty. He noted that the contracts reflect the significant and growing demand for reliable, behind-the-meter power across the energy value chain and highlighted PROPWR’s ability to deliver dependable power at scale.
