Patterson-uti energy announces sale of pioneer well service rig and wireline businesses

Houston, tx / accesswire / january 3, 2022 / patterson-uti energy, inc. (nasdaq:pten) today announced that it has sold to clearwell dynamics, llc the well service rig business and wireline business that it acquired as part of its acquisition of pioneer energy services corp. the sale transaction was completed on december 31, 2021, and patterson-uti received $43 million in cash consideration, subject to customary purchase price adjustments at closing for cash and working capital.
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