One-Page Deal Sheet
Patterson-UTI Acquires MS Energy Services for $215 Million
Patterson-Uti Energy Inc. Ms Energy Services
Announced Date
September 05,2017
Close Date
October 12,2017
Transaction Type
Corporate
Location
Region
United States
Country
United States
Transaction Details: Require Private Equity Subscription
Patterson-UTI has agreed to acquire Denham Capital and Natural Gas Partners-backed MS Energy Services) for $215 million. MS is a directional drilling company with operations in the U.S.
Patterson will finance the acquisition using $75 million in cash and 8.8 million shares of stock ($15.94 per share).
Founded in 1980, MS Energy has grown to become a leading provider of directional drilling services in the United States. With operations in most major producing onshore oil and gas basins in the United States, MS Energy provides a comprehensive suite of directional drilling services including…
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