M&A Deal Summary

Tetra Technologies Acquires Patterson-UTI Energy - Flowback Operations

On April 23, 2012, Tetra Technologies acquired energy services and equipment company Patterson-UTI Energy - Flowback Operations from Patterson-UTI for 43M USD

Acquisition Highlights
  • This is Tetra Technologies’ 2nd transaction in the Energy Services and Equipment sector.
  • This is Tetra Technologies’ 4th largest (disclosed) transaction.
  • This is Tetra Technologies’ 2nd transaction in the United States.

M&A Deal Summary
Date 2012-04-23
Target Patterson-UTI Energy - Flowback Operations
Sector Energy Services and Equipment
Buyer(s) Tetra Technologies
Sellers(s) Patterson-UTI
Deal Type Divestiture
Deal Value 43M USD

Target

Patterson-UTI Energy - Flowback Operations

United States
Patterson's flowback operations serve oil and gas operators in Appalachia and the U.S. Rockies from offices located in Pennsylvania, West Virginia and Colorado.

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Buyer(S) 1

Buyer

Tetra Technologies

The Woodlands, Texas, United States

website

Category Company
Founded 1981
Sector Energy Services and Equipment
Employees1,300
Revenue 553M USD (2022)
DESCRIPTION
Tetra Technologies' corporate headquarters in The Woodlands, Texas.
Tetra Technologies' corporate headquarters in The Woodlands, Texas.

Tetra Technologies is a geographically diversified oil and gas services company focused on completion fluids and associated products and services, water management, after-frac flow back, production well testing, offshore rig cooling, compression based production enhancement, and selected offshore services, including well plugging and abandonment, decommissioning, and diving. Tetra Technologies was founded in 1981 and is based in The Woodlands, Texas.

DEAL STATS #
Overall 3 of 5
Sector (Energy Services and Equipment) 2 of 3
Type (Divestiture) 1 of 1
Country (United States) 2 of 3
Year (2012) 2 of 3
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-09 Optima Solutions UK

Aberdeen, United Kingdom

Optima is a provider of rig cooling services and associated products that suppress heat generated by the high-rate flaring of hydrocarbons during offshore well test operations

Buy £40M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-31 Greywolf Production Systems

Crossfield, Alberta, Canada

Greywolf Production Systems, Inc. is a well testing services and are putting our mark on the Coil Tubing service industry.

Buy $56M

Seller(S) 1

SELLER

Patterson-UTI

Houston, Texas, United States

website

Category Company
Founded 1978
Sector Oil/Gas Exploration
Employees3,000
Revenue 2.6B USD (2022)
DESCRIPTION

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.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
Country (United States) 1 of 1
Year (2012) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-07-02 Universal Pressure Pumping

Houston, Texas, United States

Universal Pressure Pumping, Inc.provides unsurpassed pressure pumping and reservoir enhancement services to the oil and gas industries.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-06-06 Pressure Pumping Operations - East Texas

Texas, United States

Pressure Pumping Operations - East Texas includes 31,500 horsepower of hydraulic fracturing equipment.

Buy -
Mergr

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