{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-23-042391","form_type":"8-K","ticker":"PTEN","cik":"0000889900","company_name":"PATTERSON UTI ENERGY INC","filed_at":"2023-08-14T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.899273+00:00","generated_at":"2026-06-11T13:36:19.358490+00:00","sec_items":["2.01","3.02","7.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.7,"calibrated_materiality_score":0.7,"confidence":"high","headline":"Patterson-UTI closes acquisition of Ulterra for $370M cash and 34.9M shares","bullets":["Total consideration includes $370M cash and 34.9M shares of PTEN common stock.","Cash portion funded with cash on hand and $325M drawn from revolving credit facility.","Ulterra adds Middle East presence and BitHub data platform, complementing PTEN+.","Ulterra strengthens Patterson-UTI's position in North American PDC drill bit market.","Ulterra shares subject to 120-day lockup pending NexTier merger stockholder vote."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-23-042391","json":"https://secwatch.observer/filing/0000950170-23-042391.json","markdown":"https://secwatch.observer/filing/0000950170-23-042391.md","text":"https://secwatch.observer/filing/0000950170-23-042391.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/889900/000095017023042391/0000950170-23-042391-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/889900/000095017023042391/pten-20230814.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-11T13:36:19.358490+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"709c3d1a80c5baa497ba6a6e9f1abf80615da958","claim":"PATTERSON UTI ENERGY INC completed an acquisition involving BEP Diamond Holdings Corp. (Ulterra) for 34,900,000 shares of common stock and $370,000,000 in cash (closed 2023-08-14).","evidence_excerpt":"consummated in accordance with the terms and conditions of the Merger Agreement. In connection with the consummation of the Mergers, Patterson-UTI paid aggregate consideration of 34,900,000 shares of common stock, par value $0.01 per share, of Patterson-UTI (such shares, the “ Shares ”) and an amount of cash equal to $370,000,000, as adjusted for customary purchase","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/889900/000095017023042391/0000950170-23-042391-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"acquisition"},{"label":"Counterparty","value":"BEP Diamond Holdings Corp. (Ulterra)"},{"label":"Consideration","value":"34,900,000 shares of common stock and $370,000,000 in cash"},{"label":"Closing","value":"2023-08-14"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}