# Patterson-UTI to acquire Seventy Seven Energy in all-stock merger

Patterson-UTI Energy agreed to acquire Seventy Seven Energy in an all-stock deal valued at about $1.76 billion, creating a larger US land drilling and pressure pumping fleet. Closing is expected late in Q1 2017.

- Type: Acquisition
- Announced: 2016-12-12
- Where: United States
- Value: $1.76B
- Status: announced
- Products: high-spec drilling rigs, hydraulic fracturing services

## Companies

- [Patterson-UTI Energy](https://endata.com/companies/540.md) (acquirer)
- [Seventy Seven Energy](https://endata.com/companies/541.md) (target)

## Sources

- [investor.patenergy.com](https://investor.patenergy.com/Investors/News-and-Events/news/news-details/2016/Patterson-UTI-Energy-and-Seventy-Seven-Energy-Announce-Agreement-to-Merge/default.aspx), 2016-12-12: "Patterson-UTI will acquire all of the issued and outstanding shares of common stock of Seventy Seven Energy."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.