Business
Patterson-UTI and NexTier Oilfield Solutions Announce Expiration of Hart-Scott Rodino Waiting Period for Pending Merger
HOUSTON, TX / ACCESSWIRE / July 28, 2023 / Patterson-UTI Energy, Inc. (NASDAQ:PTEN) ("Patterson-UTI") and NexTier Oilfield Solutions Inc. (NYSE:NEX)
About this update from Patterson-uti Energy, Inc.
[{"type":"text","content":"HOUSTON, TX / ACCESSWIRE / July 28, 2023 / Patterson-UTI Energy, Inc. (NASDAQ:PTEN) (\"Patterson-UTI\") and NexTier Oilfield Solutions Inc. (NYSE:NEX) (\"NexTier\") today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the \"HSR Act\"), in connection with the previously announced all-stock merger of equals transaction.The expiration of the waiting period under the HSR Act satisfies one condition needed to close the merger, which remains on track to occur this year. The transaction remains subject to Patterson-UTI and NexTier shareholder approvals and satisfaction of other customary closing conditions.About Patterson-UTIPatterson-UTI is a leading provider of oilfield services and products to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling, pressure pumping and directional drilling services. For more information, visit www.patenergy.com.About NexTier Oilfield SolutionsHeadquartered in Houston, Texas, NexTier is an industry-leading U.S. land oilfield service company, with a diverse set of well completion and production services across the most active and demanding basins. Our integrated solutions approach delivers efficiency today, and our ongoing commitment to innovation helps our customers better address what is coming next. NexTier is differentiated through four points of distinction, including safety performance, efficiency, partnership and innovation. At NexTier, we believe in living our core values from the basin to the boardroom, and helping customers win by safely unlocking affordable, reliable and plentiful sources of energy.Cautionary Statement Regarding Forward-Looking StatementsThis press release contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are not limited to historical facts, but reflect Patterson-UTI's current beliefs, expectations or intentions regarding future events. Words such as \"anticipate,\" \"believe,\" \"budgeted,\" \"continue,\" \"could,\" \"estimate,\" \"expect,\" \"intend,\" \"may,\" \"plan,\" \"predict,\" \"potential,\" \"project,\" \"pursue,\" \"should,\" \"strategy,\" \"target,\" or \"will,\" and similar expressions are intended to identify such forward...