On the Record · Patterson UTI Energy
Patterson UTI Energy acquisitions, on the record
The businesses Patterson UTI Energy bought and sold, as its annual reports describe them, with the cash it reported paying for acquisitions each year and every deal filing since 2016.
Deals its annual reports describe
| Business | Deal | When | Value |
|---|---|---|---|
NexTier Oilfield Solutions Inc. (NexTier)Word for word“On September 1, 2023, we completed the NexTier merger.” 10-K for 2023 | merger | On September 1, 2023, we completed the NexTier merger. | — |
Ulterra Drilling Technologies, L.P. (Ulterra)Word for word“On August 14, 2023, we completed the Ulterra acquisition.” 10-K for 2023 | acquisition | On August 14, 2023, we completed the Ulterra acquisition. | — |
NexTier Oilfield Solutions Inc.Word for word“On September 1, 2023, we completed our merger (the “NexTier merger”) with NexTier Oilfield Solutions Inc. (“NexTier”), a predominately U.S. land-focused oilfield service provider, with a diverse set of well completion and production services across a variety of active basins Each share of common stock of NexTier issued and outstanding immediately prior to the effective time (including outstanding restricted shares) was converted into the right to receive 0.752 shares of our common stock, which based on the 4 Table of Contents closing price of our common stock of $14.91 on September 1, 2023, valued the transaction at approximately $2.8 billion, including the assumption of debt.” 10-K for 2024 | merger | On September 1, 2023 | valued the transaction at approximately $2.8 billion, including the assumption of debt |
Ulterra Drilling Technologies, L.P.Word for word“On August 14, 2023, we completed our acquisition (the “Ulterra acquisition”) of Ulterra Drilling Technologies, L.P. (“Ulterra”), a global provider of specialized drill bit solutions.” 10-K for 2024 | acquisition | On August 14, 2023 | — |
oilfield rentals businessWord for word“Other Other consists of our oilfield rentals business, prior to its divestiture in April 2025, along with the results of our non-operating ownership interest in oil and natural gas assets located in Texas and New Mexico.” 10-K for 2025 | divestiture | April 2025 | — |
NexTierWord for word“For example, in 2023, we significantly expanded our completions business through the NexTier merger, and we added a specialized drill bit solutions business through the Ulterra acquisition.” 10-K for 2025 | merger | in 2023 | — |
UlterraWord for word“Merger and integration expense decreased due to the timing of the NexTier merger and the Ulterra acquisition, which both closed in the third quarter of 2023.” 10-K for 2025 | acquisition | third quarter of 2023 | — |
| Fiscal year ended | Cash paid for acquisitions (net of cash acquired) | Goodwill from acquisitions |
|---|---|---|
| 2016-12-31 | −$155,000 | $0 |
| 2017-12-31 | $502 million | $525.2 million |
| 2018-12-31 | $14.2 million | $9.4 million |
| 2019-12-31 | $13,000 | — |
| 2020-12-31 | $0 | — |
| 2021-12-31 | $29.4 million | — |
| 2022-12-31 | $0 | — |
| 2023-12-31 | $65.2 million | $1.37 billion |
| 2024-12-31 | $0 | — |
| 2025-12-31 | $0 | $0 |
Deal filings since 2016
- 2026-05-19 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2026-04-28 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2025-02-03 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-09-13 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-09-01 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-09-01 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2023-08-14 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2023-07-28 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-07-05 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2023-06-15 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2022-11-09 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2021-10-04 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2021-07-06 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-07-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-04-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2020-03-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-11-15 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-08-23 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2019-03-26 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-03-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-01-19 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2018-01-11 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-09-08 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-04-21 Form 8-K, Item 2.01: Completion of Acquisition or Disposition of Assets
- 2017-01-27 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2017-01-24 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2016-12-13 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
- 2016-07-12 Form 8-K, Item 1.01: Entry into a Material Definitive Agreement
Read from Patterson UTI Energy’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-02-10. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.