Patterson-UTI - M&A Summary and Business Overview

Oil/gas ExplorationCompany

Patterson-UTI M&A Summary

Patterson-UTI has acquired 11 companies, including 3 in the last 5 years. A total of 2 acquisitions came from private equity firms. It has also divested 1 asset.

Patterson-UTI’s largest acquisition to date was in 2021, when it acquired Pioneer Energy Services for $295M. It’s largest disclosed sale occurred in 2012, when it sold Patterson-UTI Energy - Flowback Operations to Tetra Technologies for $43M. Patterson-UTI has acquired in 3 different US states, and 2 countries. The Company’s most targeted sectors include oil/gas exploration (60%) and energy services and equipment (40%).

Patterson-UTI Business Overview

Where is Patterson-UTI headquartered?

Patterson-UTI is headquartered in Houston, Texas.

What is Patterson-UTI’s revenue?

Patterson-UTI disclosed revenue of 4,146M USD for 2023 and 2,648M USD for 2022.

How many employees does Patterson-UTI have?

Patterson-UTI has 3,000 employees.

What sector is Patterson-UTI in?

Patterson-UTI is an oil/gas exploration company.

When was Patterson-UTI founded?

Patterson-UTI was founded in 1978.

M&A Summary

  • M&A Total Activity11
    • M&A Buy Activity10
    • M&A Sell Activity1
  • Total Sectors Invested 2
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 4
  • M&A Advisors 3

Patterson-UTI

Patterson-UTI Energy, Inc.

10713 West Sam Houston Parkway North Suite 800,
Houston, Texas 77064
United States,
(281) 765-7100
www.patenergy.com

Patterson-UTI provide onshore contract drilling and pressure pumping services, operate land-based drilling rigs in oil and natural gas producing regions to exploration and production companies in North America. Patterson-UTI was founded in 1978 and is based in Houston, Texas.


M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.6/yr) # 7 - 1 1 1 - 10
vol $215M $295M $510M
Sell (0.0/yr) # 1 - - - - - 1
vol $43M $43M
  11

Most Recent M&A

Company Date Value Type
NexTier Oilfield Solutions, Inc. 2023-06-15 - Merger
Houston, Texas · www.nextierofs.com
Criterion Energy Partners, Inc. 2022-03-08 - Add-on Acquisition
Houston, Texas · www.criterionep.com
Pioneer Energy Services Corp. 2021-07-06 295M USD Add-on Acquisition
San Antonio, Texas · www.pioneeres.com
MS Directional 2017-09-05 215M USD Add-on Acquisition
Conroe, Texas · www.msdir.com
Seventy Seven Energy, Inc. 2017-04-20 - Merger
Oklahoma City, Oklahoma · www.77nrg.com
Warrior Rig Ltd. 2016-09-14 - Add-on Acquisition
Calgary, Alberta · www.warriorrig.com
Pressure Pumping Assets- Texas 2014-10-20 - Add-on Acquisition
, Texas
Torqued-Up - hydraulic fracturing division 2014-06-16 - Divestiture
, United States
Pressure Pumping Operations - East Texas 2014-06-06 - Add-on Acquisition
, Texas
Patterson-UTI Energy - Flowback Operations 2012-04-23 43M USD Divestiture
, United States
View All >>

M&A by Sector

Sector Buy # Value Sell # Value
Oil/Gas Exploration 6 (60%) 215M (42%) - -
Energy Services and Equipment 4 (40%) 295M (58%) 1 (100%) 43M (100%)
Total 10 $510M 1 $43M

By Geo

State/Country Buy Value Sell Value
United States 9 510M 1 43M
  Texas 7 510M - -
  Oklahoma 1 - - -
Canada 1 - - -
  Alberta 1 - - -
Domestic 9 (90%) 510M (100%) 1 (100%) 43M (100%)
Cross-border 1 (10%) - - -
Total 10 $510M 1 $43M

Top M&A Advisors

Financial Deals
Simmons & Company
 1
Goldman Sachs
 1
Legal Deals
Gibson, Dunn & Crutcher
 2

Deal Values

buy # Total
$100M to $1B 2 $510M
TOTAL $510M
Largest Pioneer Energy Services Corp.
$295M (2021-07-06)
sell # Total
< $100M 1 $43M
TOTAL $43M
Largest Patterson-UTI Energy - Flowback Operations
$43M (2012-04-23)

M&A Connections

Deals
Acquired from
Investor(s)
10%
1 (10%)
Strategic(s)
10%
1 (10%)
Divested to
Strategic(s)
100%
1 (100%)

Company Summary

SECTOR

Oil/Gas Exploration

Revenue

4,146   57% 2023
2,648   96% 2022
1,357   21% 2021
1,124   55% 2020
2,471   26% 2019
3,327   42% 2018
2,357   158% 2017
916   52% 2016
1,891   41% 2015
3,182   18% 2014
2,716   1% 2013
2,723   2012
(millions of USD) Show More Show Less

Employees

3,000

Established

1978

Public

NASDAQ: PTEN

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