Patterson-UTI, NexTier to combine, creating $5.4B oil field services co.

Patterson-UTI Energy Inc. (Nasdaq: PTEN) and NexTier Oilfield Solutions Inc. (NYSE: NEX) will combine to create a major oil field services company. As of the first quarter of 2023, the combined company would have generated approximately $6.9 billion of revenue and $1.9 billion in adjusted EBITDA.