Patterson-UTI Energy Inc.
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Transactions
Patterson-UTI to Buy Pioneer Energy Services for $295 Million
Patterson-UTI to Buy Pioneer Energy Services for $295 Million
Patterson-UTI Evolves With $215 Million Deal For Directional Driller
Patterson-UTI Evolves With $215 Million Deal For Directional Driller
Patterson-UTI To Buy Seventy Seven For $1.76 Billion
Patterson-UTI To Buy Seventy Seven For $1.76 Billion
Patterson-UTI Energy To Acquire Drilling Technology Company
Patterson-UTI Energy To Acquire Drilling Technology Company
Patterson-UTI Closes Eagle Ford, Haynesville Acquisition
Patterson-UTI Closes Eagle Ford, Haynesville Acquisition
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New Financings
Entered into a $600 million, five-year credit agreement with a group of financial institutions led by…
Patterson-UTI Energy Inc. said on Jan. 5 that it is proposing to issue senior notes to eligible…
Entered senior unsecured term loan agreement with group of financial institution lenders led by Wells…
Launched a new stock buyback program that authorizes purchases of additional shares to be made from time…
Completed its stock buyback program approved by its board in July 2012 after repurchasing some 2.6…
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News
TPH: Lower 48 to Shed Rigs Through 3Q Before Gas Plays Rebound
TPH&Co. analysis shows the Permian Basin will lose rigs near term, but as activity in gassy plays ticks up later this year, the Permian may be headed towards muted activity into 2025.
Drilling Tech Rides a Wave
Can new designs, automation and aerospace inspiration boost drilling results?
Following Acquisitions, Patterson-UTI Focused on Integration
Patterson-UTI CEO Andy Hendricks is optimistic about rig recovery in 2024, and he says frac fundamentals remain strong.
Forty Under 40: Andrzej (Andrew) Stopka, Patterson-UTI Energy
Today's featured Forty Under 40 honoree is Andrzej (Andrew) Stopka, the director of engineering and rig construction at Patterson-UTI Energy.
Precision Drilling Expands in US, Canada with CWC Energy Services Acquisition
Precision Drilling Corp. is expanding its U.S. and Canadian drilling fleet by acquiring fellow Calgary player CWC Energy Services.
Patterson-UTI Closes $780MM Ulterra Drilling Technologies Deal
Patterson-UTI acquired Ulterra Drilling Technologies from affiliates of Blackstone Energy Partners in a cash and stock deal valued at about $780 million.
Analysts: Patterson-UTI M&A May Continue After NexTier, Ulterra Deals
Patterson-UTI’s cash-and-stock acquisition of Ulterra Drilling Technologies enhances PTEN’s position in the drilling and completions market. After the recent merger announcement with NexTier, analysts wonder if PTEN might pursue more M&A.
Permian Paradox: Patterson CEO Says Fewer Rigs Demand More Workers
Patterson-UTI CEO Andy Hendricks said the Lower 48’s hottest play has tapped out the local workforce, requiring the drilling company to bring employees into the Permian Basin.
Devon Energy Invests in Enhanced Geothermal Firm Fervo
Devon Energy joins other E&Ps exploring the geothermal space with a $10 million investment in Houston’s Fervo Energy.
US Land Drillers: Drilling Faster, Reaching More Resources
Here’s how Big Data is informing intelligent design for drilling operations, according to experts from U.S.-based land drilling companies Patterson-UTI and Helmerich and Payne.
Insight: North American Oil Companies Scramble to Find Workers Despite Boom
Patterson-UTI Energy may hire another 3,000 workers this year after hiring back 3,000 in 2021, and even has recruiters set up at a shopping mall in Williston, North Dakota, to find potential workers.
Patterson-UTI, Helmerich & Payne Eye Higher Prices Amid Tight OFS Market
U.S. oilfield service firm Patterson-UTI Energy said it is seeing significant price increases for both drilling and hydraulic fracturing and rival contract driller Helmerich & Payne said it was contracting some rigs around $30,000 per day.
Patterson-UTI Makes Strategic Investment in Houston-based Geothermal Technology Company
Patterson-UTI CEO Andy Hendricks said "geothermal will play an important role in the energy transition."
E&P Case Study: A New Tool to Reduce Emissions from Drilling Operations
EcoCell is a new energy management system set to reduce carbon emissions during drilling operations by utilizing battery energy storage to optimize the number of generators online.
Patterson-UTI Partners with Corva to Unlock Greater Rig, Cost, ESG Performance
The Corva and Patterson-UTI collaboration aims to equip oil and gas producers with the digital tools necessary to drill and complete more productive and profitable wells while also hitting lower emissions targets.Â