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ProPetro Continues To Increase Frac Fleet Capacity on Customer Demand
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ProPetro Holding Corp. announced financial and operational results for the second quarter of 2017.
Second Quarter 2017 Highlights
Total revenue for the quarter increased 24% to $213.5 million, compared to $171.9 million for the first quarter of 2017. Net income for the quarter was $4.9 million, or $0.06 per diluted share, as compared to a net loss of $24.4 million, or $0.43 loss per diluted share, for the first quarter of 2017. Adjusted EBITDA for the quarter was $30.7 million, up approximately 89% from $16.2 million for the first quarter of 2017. Frac fleet remained fully utilized, including deployment of two new build fleets, ending the period with total capacity of 510,000 hydraulic horsepower (“HHP”) – more than a 20% increase as compared to the end of the first quarter of…- ✓ Full news archive — U.S., Canada & international coverage
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