STEP Energy, an energy services company, completed the acquisition of the coiled tubing assets of ProPetro, an oilfield services company, for $13m. “We have tremendous respect for the coiled tubing business that the ProPetro team has built. Lateral lengths in the Permian continue to increase and these four units, along with the highly skilled team of professionals who operate the equipment, build on STEP’s ability to service this market segment. Furthermore, the outlook for the coiled tubing market is improving rapidly as smaller competitors are consolidated and pricing moves higher. We are excited about how this acquisition will drive higher returns from our US division,” Steve Glanville, STEP President and COO.