# Patterson-UTI completes acquisition of Ulterra Drilling Technologies

Patterson-UTI Energy completed the acquisition of Ulterra Drilling Technologies for $370 million in cash and 34.9 million shares of common stock. Ulterra is a global provider of specialized drill bit solutions.

- Type: Acquisition
- Announced: 2023-08-15
- Where: United States
- Value: $370.0M
- Status: completed
- Products: drill bits
- Sectors: [Industrial Machinery](https://endata.com/sectors/industrial-machinery.md)

## Companies

- [Patterson-UTI Energy](https://endata.com/companies/540.md) (acquirer)
- [Ulterra Drilling Technologies](https://endata.com/companies/39663.md) (target)

## Sources

- [worldoil.com](https://www.worldoil.com/news/2023/8/15/patterson-uti-completes-ulterra-drilling-technologies-acquisition/), 2023-08-15: "Patterson-UTI Energy, Inc. has completed the acquisition of Ulterra Drilling Technologies, L.P., a global provider of specialized drill bit solutions."

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