Is NexTier-Patterson UTI Deal A Sign Of More Consolidation Ahead?
Key Points Shares of Patterson UTI Energy Inc. and NexTier Oilfield Solutions surged following a merger announcement.The combined entity will be valued at approximately $5.4 billion.The merger is expected to be accretive to earnings per share and free cash flow per share in 2024.Merger-and-acquisition activity is rising in the oilfield services industry.Oilfield services companies face a shrinking customer base, driving the need for consolidation and synergies.5 stocks we like better than Patterson-UTI EnergyShares of Patterson UTI Energy Inc. (NASDAQ:PTEN) and NexTier Oilfield Solutions (NYSE...