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Target Hospitality acquires Midland, TX community from ProPetro

Jul. 02, 2019 10:57 AM ETTarget Hospitality Corp. (TH) StockPUMPBy: Akanksha Bakshi, SA News Editor
  • Target Hospitality (NASDAQ:TH -0.6%) announces the acquisition of a 168-room community located in Midland, TX from ProPetro Holding Corp., (PUMP -3.3%) expanding its presence in the Permian Basin to 19 communities.
  • Target Hospitality signed a long-term, exclusive network contract with ProPetro, including a long-term agreement for the entire Midland community. This will provide ProPetro with access to Target Hospitality’s full suite of turnkey services at the Midland location as well as across the Company’s proprietary Permian Basin lodging network.
  • The transaction closed on July 1, 2019.

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