Patterson-uti energy and nextier oilfield solutions to combine in merger of equals, creating industry leading drilling and completions services provider

Comprehensive u.s. oilfield services franchise to enhance drilling and completions value creation potential and maximize returns for shareholders combined $5.4 billion total enterprise value drives improved free cash flow generation and strong balance sheet to deliver long term value to shareholders, including continued commitment to shareholder return program expected to be accretive to earnings per share and free cash flow per share in 2024  expected to generate approximately $200 million of annual cost savings and operational synergies within 18 months following close curtis huff to serve as chair of the board; robert drummond to serve as vice chair of the board; andy hendricks to serve as ceo companies to host conference call today at 7:30 a.m. ct (8:30 a.m.
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