Patterson-UTI Energy Inc. (NASDAQ: PTEN) has entered into an agreement to acquire Warrior Rig Ltd. and certain related entities. Based in Calgary, Warrior designs, manufactures and services high-spec rig components with a recent focus on top drive technology for improved drilling performance. The pending transaction is subject to customary closing conditions, and is expected to close promptly.
Patterson-UTI Energy Inc. subsidiaries provide onshore contract drilling and pressure pumping services to exploration and production companies in North America. Patterson-UTI Drilling Company LLC and its subsidiaries operate land-based drilling rigs in oil and natural gas producing regions of the continental United States and western Canada. Universal Pressure Pumping Inc. and Universal Well Services Inc. provide pressure pumping services primarily in Texas and the Appalachian region.