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ProPetro Completes Purchase of Pioneer's Pressure Pumping Assets and Enters into Long-Term Service Agreement

Jan 02, 2019 - Business Wire
Mergers and Acquisitions

ProPetro Holding Corp. (NYSE: PUMP) ("ProPetro" or the "Company") announced today that, effective January 1, 2019, it completed its previously announced acquisition of the pressure pumping assets of Pioneer Natural Resources Company (NYSE: PXD) ("Pioneer") and became a strategic long-term service provider to Pioneer providing pressure pumping and related services for a term of up to 10 years. Under terms of the agreement previously announced on November 13, 2018, ProPetro acquired Pioneer's pres...