Patterson-UTI Energy Inc. and NexTier Oilfield Solutions Inc. said Thursday they have reached an agreement to conduct a merger of equals in an all-stock deal with an enterprise value of $5.4 billion.
The deal comes after the Wall Street Journal reported that the two Houston-based companies were in talks earlier this week and comes at a time of consolidation in the oil-field-services industry.
Patterson-UTI’s…
This post was originally published on Market Watch
