- Shale investor Dan Wilks reports a 7.5% active stake in oilfield services firm ProPetro (PUMP +0.6%), saying he may choose to push the company for a sale or other alternatives.
- The possible changes could be related to the company's capital allocation and ownership structure and could include mergers or an outright sale.
- Wilks first reported a nearly 10% passive stake in ProPetro in April, a month after the company's CEO departed in the aftermath of investigations about its financial reporting and controls.
- Wilks and his brother Farris have been acquiring stakes in hard-hit services oilfield service firms across North America in recent years and most recently engaged in a takeover battle for Calfrac Well Services.