Patterson-UTI NexTier Merger 2023 Drilling Completions

Patterson-UTI Energy and NexTier Oilfield Solutions announced a merger creating a premier U.S. land drilling and completions services provider. The combined company is positioned among industry leaders in contract drilling, pressure pumping, and directional drilling, with anticipated $200 million in annual synergies and accretive EPS and FCF per share by 2024.