Patterson-uti completes acquisition of pioneer energy services

Houston, oct. 4, 2021 /prnewswire/ -- patterson-uti energy, inc. (nasdaq: pten) today announced that it has closed its previously announced acquisition of pioneer energy services corp.  total consideration for the acquisition included the issuance of approximately 26.3 million shares of patterson-uti common stock and payment of $30 million of cash, which based on the most recent closing price for patterson-uti of $9.44 valued the transaction at approximately $278 million, including the retirement of all pioneer energy services' debt.
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