• Home
  • About Us
    • Previous Issues
    • Submissions
    • Contact Us
  • Subscribe
  • Advertise
    • Audience
    • Editorial Calendar
    • Sizes & Specs
  • Jobs
    • View Open Positions
    • List Your Job

Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

  • News
    • Legislative Matters
    • PBPA
    • People
  • Trade Talk
    • Automation, Controls and Measurement
    • Environmental, Safety and Training
    • Fracking, Frac Sand and Water
    • Infrastructure
    • Pipe and Pipe Service
    • Technology
    • Wireline and Testing
  • Business & Analysis
    • Industry Analysis
    • Mergers and Acquisitions
    • The Financial Picture
  • Drilling Deeper
  • Permit Map
  • Fun
    • History
    • Workovers
  • Subscribe

Patterson-UTI acquires Ulterra Drilling Technologies of Fort Worth

July 11, 2023 by PBOG

Houston-based contract driller Patterson-UTI Energy said last week it agreed to acquire Ulterra Drilling Technologies of Fort Worth from Blackstone Group in a cash-and-stock transaction valued at $800 million ($370 million cash).  Ulterra designs, manufactures, sells and rents PDC drill bits (polycrystalline diamond compact) for customers in more than 30 countries.  Closing is expected in 2023Q3.

Andy Hendricks, CEO of Patterson-UTI, said July 5, “Ulterra’s industry-leading position in the North American PDC drill bit market will expand our operational and technology portfolio and strengthen our position as a leading drilling and completions company… The addition of Ulterra to our drilling offering and our recent announcement to merge with NexTier Oilfield Solutions advance our strategy to enhance our positions in both drilling and completions.”

Filed Under: PBOG Newsletter

Subscribe to PBOG

Subscribe: Newsletter | Magazine

September 2023

Sept 2023

Read the most recent issue of PBOG on your computer, iPad, Kindle, phone or other electronic reader.

If you'd like to view our previous issues, click here.

Connect with us online.

Facebook spacer Twitter spacer LinkedIn
Privacy Policy

Cookie Policy

Permian Basin Oil and Gas Magazine

3457 Curry Lane
Abilene, TX 79606
325.673.4822
pbog@zacpubs.com

Search PBOG.com

© 2023 · Zachry Publications