Patterson-UTI Energy to acquire Pioneer Energy Services for $295m.

Patterson-UTI Energy, a provider of oilfield services, agreed to acquire Pioneer Energy Services, a provider of oilfield services, for $295m. "As a leading provider of contract drilling services in the United States, we are proud to announce this transaction. Pioneer's high-quality fleet of 17 drilling rigs in the United States, of which 16 are super-spec, will be a valuable addition to our business. Additionally, many of these rigs are capable of substituting cleaner-burning natural gas for diesel, a technology that is becoming increasingly important to operators for reduced emissions.I look forward to welcoming the Pioneer employees to the Patterson-UTI family," Andy Hendricks, Patterson-UTI CEO.