With customer demand rising for super-spec rigs powered by electricity and natural gas, contract drilling giant Patterson-UTI Energy Inc. on Tuesday agreed to trade stock and cash to buy Pioneer Energy Services Corp. for an estimated $295 million. With a fleet of around 150 super-spec, alternating current (AC) rigs, Houston-based Patterson-UTI is one of the…
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Articles from Patterson-Uti
Patterson-UTI Adding Directional Drilling Bulk with MS Energy Takeover
Houston-based Patterson-UTI Energy Inc. is trading shares and cash to acquire MS Energy Services, a directional drilling expert that works in most of the U.S. onshore basins.
September 5, 2017
Patterson-UTI Buying Gulf Coast Pressure Pumping Horsepower
A unit of Patterson-UTI Energy Inc. is growing its Gulf Coast region operations by acquiring pressure pumping assets that will support activities in the Eagle Ford and Haynesville shales.
September 19, 2014
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