Pioneer Natural Resources Co. agreed to extend its pressure pumping services contract with ProPetro Services Inc., Midland, Texas-based ProPetro said in a company release on April 4.
The two companies entered into a pressure pumping services agreement in 2018 in connection with the acquisition of Pioneer’s pressure pumping services assets. Since that time, ProPetro and Pioneer have worked collaboratively to improve completions performance in the Permian Basin, achieving industry-leading results, according to the ProPetro release.
“This amendment to our existing agreement with ProPetro reflects Pioneer’s desire for continuous improvement in completions performance as demonstrated through the material progress achieved since our partnership began,” Pioneer President and COO Rich Dealy commented in a company release. “We thank ProPetro for its commitment to meet and exceed the high standards Pioneer expects in our operations.”