Patterson-UTI Energy has signed an agreement to acquire 31,500 horsepower of hydraulic fracturing equipment in East Texas.
The equipment will provide the company with a new base of operations and employees in order to support drilling programmes in East Texas and Louisiana.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The acquired assets will supplement Patterson-UTI’s current Texas-based pressure pumping operations in the Permian Basin, the Eagle Ford shale of South Texas and the Barnett shale of North Texas. The company also has a pressure pumping presence in the Marcellus and Utica shale plays.
Based upon published rig counts, around 50% of the rigs presently drilling horizontal wells in the US are situated in Texas.
Patterson-UTI Energy subsidiaries offer onshore contract drilling and pressure pumping services to North American exploration and production firms.
The company and its subsidiaries have over 275 marketable-land-based drilling rigs and operate primarily in oil and natural gas producing regions in the continental US, Alaska, and western and northern Canada.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataImage: Around 50% of the rigs presently drilling horizontal wells in the US are located in Texas. Photo: courtesy of meepoohfoto/ FreeDigitalPhotos.net.
