Patterson-UTI Energy to acquire Texas-based pressure pumping assets

Patterson-UTI Energy Inc.

Patterson-UTI Energy Inc. (NASDAQ: PTEN) reports that one of its subsidiaries has entered into an agreement to acquire the Texas-based pressure pumping assets of a privately held company. 

The acquisition includes 143,250 horsepower of hydraulic fracturing equipment, which was manufactured in 2011 and 2012, and provides Patterson-UTI with two additional bases of operations and employees to support customers in the Eagle Ford and Haynesville shale plays. 

The pending transaction, which is expected to close within 90 days, is subject to customary closing conditions and receipt of required third-party consents, and is subject to expiration or termination of the waiting period under the Hart-Scott-Rodino Act. 

 

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