ProPetro Holding Corp. announced that, effective January 1, 2019, it completed its previously announced acquisition of the pressure pumping assets of Pioneer Natural Resources Company 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 pressure pumping assets (PPS) in exchange for total consideration of $400 million comprised of $110 million of cash and 16.6 million shares of ProPetro common stock, representing approximately 17% Pioneer ownership in ProPetro.