Patterson-UTI
Company type | Public |
---|---|
Industry | Petroleum industry |
Founded | 1978 |
Headquarters | Houston, Texas, U.S. |
Key people | Mark S. Siegel, Chairman William Andrew Hendricks Jr., President & CEO |
Services | Well drilling |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | 5,800 (February 7, 2020) |
Website | patenergy |
Footnotes / references [1] |
Patterson-UTI Energy provides land drilling and pressure pumping services, directional drilling, rental equipment and technology to clients in the United States and western Canada.[2]
Patterson-UTI Companies include:
- Patterson-UTI Drilling
- Universal Pressure Pumping
- MS Directional
- Great Plains Oilfield Rental
- Warrior Rig Technologies
- Current Power Solutions
- Superior QC
- NexTier OFS
History
Patterson Drilling Company was founded in 1978 by Cloyce Talbott and Glenn Patterson.[1]
In 2001, Patterson Drilling acquired UTI Energy and renamed the company Patterson-UTI Energy.[3]
In September 2014, the company acquired Texas-based pressure pumping assets.[4]
In September 2016, the company acquired Warrior Rig.[5]
In April 2017, the company acquired Seventy Seven Energy.[6] The deal included Seventy Seven's affiliates: Great Plains Oilfield Rental, Nomac Drilling (now part of Patterson-UTI Drilling), and Performance Technologies (now part of Universal Pressure Pumping).[7]
In October 2017, the company acquired MS Energy Services (now MS Directional).[8]
In February 2018, the company acquired Superior QC, a provider of software used to improve the accuracy of horizontal wellbore placement.[9]
In October 2018, the company acquired Current Power Solutions, Inc.[10]
In October 2021, Patterson-UTI announced that it completed the acquisition of Pioneer Energy Services.
In September 2023, the company merged with NexTier OFS
References
- ^ a b "Patterson-UTI Energy, Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Patterson-UTI Energy, Inc. - Company - About Us". patenergy.com. Retrieved 2019-08-27.
- ^ "Patterson and UTI Complete Merger". www.rigzone.com.
- ^ "Patterson-UTI Energy Announces Agreement to Acquire Texas-Based Pressure Pumping Assets" (Press release). PR Newswire. September 19, 2014.
- ^ "Patterson-UTI Energy Announces Agreement to Acquire Drilling Technology Company" (Press release). PR Newswire. September 14, 2016.
- ^ "Patterson-UTI Energy Completes Merger with Seventy Seven Energy" (Press release). PR Newswire. April 20, 2017.
- ^ "Seventy Seven Energy's Merger is Complete With Houston Company". Oklahoma Energy Today. 2017-04-24. Retrieved 2019-08-27.
- ^ "Recent blog posts - MS Energy News". www.msenergyservices.com. Retrieved 2019-08-27.
- ^ "Patterson-UTI Energy Acquires Superior QC, A Directional Drilling Analytics Company" (Press release). PR Newswire. February 21, 2018.
- ^ "10-K: PATTERSON UTI ENERGY INC". MarketWatch. Retrieved 2019-08-27.