Patterson-UTI to buy East Texas pressure pumping operations

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.

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.

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Image: Around 50% of the rigs presently drilling horizontal wells in the US are located in Texas. Photo: courtesy of meepoohfoto/ FreeDigitalPhotos.net.