In the summer of 2021, Patterson-UTI Energy, which operates 21 active rigs in the Marcellus/Utica (out of 49 active M-U rigs, nearly half of all active M-U rigs!), announced it was buying a smaller competitor, Pioneer Energy Services Corp. (see Patterson-UTI Energy Buying Pioneer Energy Services for $295M). Patterson added Pioneer’s fleet of 16 super-spec drilling rigs to Patterson’s (at that time) fleet of 150 super-spec drilling rigs in the U.S. Big news! Yesterday Patterson announced it is expanding again by combining with NexTier Oilfield Solutions in a “merger of equals.” Please Login to view this content. (Not a member? Join Today!)
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