Eldridge Secures $350M Lease Facility to Fund ProPetro Equipment
Eldridge has closed a $350 million equipment lease facility with ProPetro to finance its pressure pumping fleet expansion. The agreement strengthens ProPetro’s liquidity and supports planned additions to its service capacity across US oilfield operations.
1. Facility Closing and Details
On February 23, Eldridge completed a $350 million lease facility agreement with ProPetro, providing dedicated financing for high-spec pressure pumping units. The structure offers off-balance-sheet funding to support the acquisition and deployment of new equipment.
2. Strategic and Operational Impact
This lease financing bolsters ProPetro’s liquidity profile and accelerates planned fleet expansions, enhancing service capacity. The additional equipment funding is poised to improve operational readiness and competitive positioning in major US shale markets.