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New Deal


Announced

Completed

ProPetro completed the acquisition of Par Five Energy Services.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Integrated Oil and Gas

Acquisition

Domestic

Friendly

oil and gas exploration

Single Bidder

Completed

United States

Private

Majority

Synopsis

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ProPetro, a Midland, Texas-based provider of premium completion services to leading upstream oil and gas companies engaged in the exploration and production of North American unconventional oil and natural gas resources, completed the acquisition of Par Five Energy Services, an oil and gas exploration service in New Mexico. Financial terms were not disclosed. Specializing in cementing services in the Delaware Basin, Par Five’s business complements ProPetro's existing cementing business that operates predominantly in the Midland Basin region of the Permian Basin. The acquired business will be integrated within ProPetro’s existing cementing operating team and brand. This transaction forms a comprehensive cementing business to better serve Permian operators and is complementary to ProPetro’s industry-leading hydraulic fracturing and wireline completions businesses.

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