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Patterson-UTI Mergers & Acquisitions

Patterson-UTI M&A Summary

Patterson-UTI has acquired 12 companies, including 4 in the last 5 years. A total of 3 acquisitions came from private equity firms. It has also divested 1 asset.

Patterson-UTI’s largest acquisition to date was in 2023, when it acquired Ulterra Drilling Technologies for $370M. 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 (55%) and energy services and equipment (46%).

M&A Summary

  • M&A Total Activity12
    • M&A Buy Activity11
    • M&A Sell Activity1
  • Total Sectors Invested 2
  • Total Countries Invested 2
  • M&A Buy/Sell Connections 5

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

All (12) Buy (11) Sell (1)
Date Target Value
$mlns 		Transaction Type Acquirer Seller SRC
Link
2023-07-05 Ulterra Drilling Technologies · Energy Services and Equipment
Fort Worth, Texas · www.ulterra.com

Ulterra Drilling Technologies is a supplier of polycrystalline diamond compact drill bits to the oil and gas industry. Ulterra’s singular focus on PDC drilling technology allows it to deliver the highest level of customer service and customization to producers across a wide range of basins and geological formations, driving industry leading performance and durability. Ulterra Drilling Technologies was formed in 1927 and is based in Fort Worth, Texas.

370 Add-on Acquisition

Patterson-UTI

The Blackstone Group PE
Advisor: Kirkland & Ellis


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