Argonaut Private Equity completed the acquisition of Pioneer Well Services from Pioneer Natural Resources.

Argonaut Private Equity, a private equity fund, completed the acquisition of Pioneer Well Services, a fluid transfer, hot oiling, frac tank rental and wellsite construction services provider, from Pioneer Natural Resources. Financial terms were not disclosed. “The acquisition of the Pioneer Well Services assets allows us to partner with one of the premier operators in the Permian Basin in Pioneer Natural Resources, while leveraging our experience in the oil and gas industry and an unlevered balance sheet for American Well Services to continue its track record of providing first-class service and safety,” Steve Mitchell, Argonaut CEO.