Patterson-UTI Energy to merge with NexTier Oilfield in deal with enterprise value of about $5.4...

Published on 15 Jun 2023 on Market Watch

Patterson-UTI Energy to merge with NexTier Oilfield in deal with enterprise value of about $5.4...

Patterson-UTI Energy Inc. and NexTier Oilfield Solutions Inc. said Thursday they have reached an agreement to conduct a merger of equals in an all-stock deal with an enterprise value of $5.4 billion.

The deal comes after the Wall Street Journal reported that the two Houston-based companies were in talks earlier this week and comes at a time of consolidation in the oil-field-services industry.

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Patterson-UTI Energy to merge with NexTier Oilfield in deal with enterprise value of about $5.4...

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