{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-168250","form_type":"8-K","ticker":"PTEN","cik":"0000889900","company_name":"PATTERSON UTI ENERGY INC","filed_at":"2023-06-16T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.654775+00:00","generated_at":"2026-06-13T23:29:37.649501+00:00","sec_items":["8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Patterson-UTI to merge with NexTier in all-stock deal; combined enterprise value $5.4B","bullets":["All-stock merger of equals; PTEN shareholders own 55%, NexTier 45%; exchange ratio 0.7520.","Combined annualized revenue $6.9B, adj. EBITDA $1.9B; expect ~$200M annual cost synergies within 18 months.","Expected close Q4 2023; Andy Hendricks CEO, Curtis Huff Board Chair.","Net debt to TTM EBITDA 0.5x; targeting returning 50%+ of FCF to shareholders.","Creates leading drilling and completions provider with 172 super-spec rigs and 3.3M hydraulic horsepower."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-168250","json":"https://secwatch.observer/filing/0001193125-23-168250.json","markdown":"https://secwatch.observer/filing/0001193125-23-168250.md","text":"https://secwatch.observer/filing/0001193125-23-168250.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/889900/000119312523168250/0001193125-23-168250-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/889900/000119312523168250/d506037d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T23:29:37.649501+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":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}