The executive team for completions expert ProPetro Holding Corp., whose business is centered in the Permian Basin, remains bullish on natural gas and oil activity rising over the next several years on improved commodity prices and the continued “industrialization” of the energy sector.

The Midland, TX-based oilfield services (OFS) firm provides hydraulic fracturing (fracking) services, mostly for Permian exploration and production (E&P) customers. Business has been slow, but when E&Ps need equipment, they are more likely to contract for premium technology, including electric fleets, or e-fleets, and the dual-fuel systems that use natural gas.

“Despite the recent market slowdown, demand for our next generation offerings has not waned,” CEO Sam Sledge said during the third...