{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-181582","form_type":"8-K","ticker":"PTEN","cik":"0000889900","company_name":"PATTERSON UTI ENERGY INC","filed_at":"2023-07-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:36.898218+00:00","generated_at":"2026-06-13T12:59:22.022458+00:00","sec_items":["1.01","3.02","7.01","8.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Patterson-UTI acquires Ulterra for $370M cash + 34.9M shares; Q3 close expected","bullets":["Acquires Ulterra, a leading PDC drill bit provider, for $370M cash and 34.9M shares of PTEN common stock.","Ulterra's 2023 EBITDA expected between $160M and $180M; revenue synergies expected within first year.","Ulterra's BitHub data platform complements PTEN+ and combined data analytics with NexTier merger.","Closing expected in Q3 2023, subject to HSR and customary conditions; Blackstone entered voting agreement supporting NexTier merger.","John Clunan will continue to lead Ulterra, reporting to Mike Holcomb; headquarters remain in Fort Worth."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-181582","json":"https://secwatch.observer/filing/0001193125-23-181582.json","markdown":"https://secwatch.observer/filing/0001193125-23-181582.md","text":"https://secwatch.observer/filing/0001193125-23-181582.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/889900/000119312523181582/0001193125-23-181582-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/889900/000119312523181582/d457497d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-13T12:59:22.022458+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":"960a736ec5f7701ed293dc64ace85545b21b229c","claim":"PATTERSON UTI ENERGY INC entered into Agreement and Plan of Merger with BEP Diamond Holdings Corp. valued at aggregate initial consideration of 34,900,000 shares of Patterson-UTI common stock and $370,000,000 (effective 2023-07-03).","evidence_excerpt":"On July 3, 2023, Patterson-UTI Energy, Inc., a Delaware corporation (“ Patterson-UTI ”), PJ Merger Sub Inc., a Delaware corporation and wholly owned subsidiary of Patterson-UTI (“ Merger Sub I ”), and PJ Second Merger Sub LLC, a Delaware limited liability company and wholly owned subsidiary of Patterson-UTI (“ Merger Sub II ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with BEP Diamond Holdings Corp., a Delaware corporation (“ Ulterra ”), which indirectly owns all of the outstanding equity interests of Ulterra Drilling Technologies, L.P., and BEP Diamond Topco L.P., a Delaware limited partnership, as sole stockholder of Ulterra (the “ Stockholder ”), pursuant to which, upon the terms and subject to the conditions set forth therein, (i) Merger Sub I will merge with and into Ulterra, with Ulterra continuing as the surviving entity (the “ Surviving Corporation ”) (the “ First Company Merger ”), and (ii) immediately following the First Company Merger, the Surv","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/889900/000119312523181582/0001193125-23-181582-index.htm","confidence":0.99,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"merger"},{"label":"Counterparty","value":"BEP Diamond Holdings Corp."},{"label":"Value","value":"aggregate initial consideration of 34,900,000 shares of Patterson-UTI common stock and $370,000,000"},{"label":"Effective","value":"2023-07-03"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}