ProPetro Holding Corp. (NYSE:PUMP) acquired Silvertip Completion Services Operating, LLC from Lime Rock Partners, LLC and CrownQuest Operating, LLC for approximately $150 million on November 1, 2022. The Company acquired Silvertip for consideration of 10.1 million shares of ProPetro common stock, $30 million of cash, the payoff of $7.2 million of assumed debt, and certain other transaction costs, subject to customary post-closing adjustments, which implies a value of $150 million based upon a 15-day VWAP of ProPetro's stock price as of October 27, 2022. On a fully-diluted basis, Silvertip's former shareholders now own approximately 9% of ProPetro. Parks Paton Hoepfl & Brown acted as financial advisor to ProPetro Holding Corp. Alan Beck and Raleigh Wolfe of Vinson & Elkins LLP acted as legal advisor to ProPetro Holding Corp. Tudor, Pickering, Holt & Co., LLC acted as financial advisor to Silvertip Completion Services Operating, LLC. Bruce C. Herzog and Nick Dhesi of Latham & Watkins LLP acted as legal advisor to Silvertip Completion Services Operating, LLC. Jim Putnam of BDO USA, LLP acted as Due Diligence Provider to ProPetro Holding Corp. (NYSE:PUMP).

ProPetro Holding Corp. (NYSE:PUMP) completed the acquisition of Silvertip Completion Services Operating, LLC from Lime Rock Partners, LLC and CrownQuest Operating, LLC on November 1, 2022.