US contractor buys drilling player for $370 million — weeks after unveiling $5.4 billion merger

Patterson-UTI buys drilling technology company just a month after announcing merger with NexTier Oilfield Solutions

Mergers and acquisitions: Patterson-UTI chief executive Andy Hendricks. — Mergers and acquisitions: Patterson-UTI chief executive Andy Hendricks.Photo: PATTERSON-UTI ENERGY

Iain Esau

London

Patterson-UTI Ulterra Drilling Technologies NexTier Oilfield Solutions Americas North America

Published 5 July 2023, 12:28Updated 12 July 2023, 11:20