PUMP Gets A Relief
ProPetro (PUMP) provides hydraulic fracturing and other related services to the key unconventional resource basins in North America. Operationally, the lack of pressure pumping demand and upstream energy company's budget exhaustion can affect its top-line adversely in the short-term. Although the conclusion of the international review process has pushed the stock price up in the past couple of months, I think the current headwinds can weaken the price in the short-term.
Over the medium-to-long-term horizon, the company should benefit from the ten-year agreement with Pioneer Natural Resources, following the