ProPetro acquires Par Five Energy cementing assets; expects $10M 2024 EBITDA boost

ProPetro Holding Corp.

Acquisition of Par Five's cementing business in the Delaware Basin complements existing Midland Basin operations.
Par Five owned over 14 cementing spreads and recently expanded its bulk plant facilities.
ProPetro expects the deal to increase 2024 Adjusted EBITDA by ~$10M with 80-90% conversion to free cash flow.
CEO Sam Sledge cites accretive growth and enhanced free cash flow generation as strategic rationale.
Transaction advised by PPHB and Vinson & Elkins; legal advisor to Par Five was Murphy Mahon Keffler & Farrier.

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