Clearwell Dynamics completed the acquisition of well service rig and wireline businesses from Patterson-UTI for $43m.

Clearwell Dynamics, a provider of well servicing and wireline services, completed the acquisition of well service rig and wireline businesses from Patterson-UTI, a provider of oilfield services and products to oil and natural gas exploration, for $43m. "I remain very pleased with our acquisition of Pioneer Energy Services and the integration of the US and Colombian drilling businesses. As we previously announced, the Pioneer acquisition included a well-run and high-quality production services business that we believe will be better served as a focused stand-alone business. The proceeds of this sale exceed the cash portion of our purchase price for Pioneer Energy Services I would like to thank all parties involved in the execution of this sale transaction," Andy Hendricks, Patterson-UTI CEO.