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Patterson-UTI Inks More Than $370M Deal For Drill Bit Maker

By Parker Quinlan ( July 5, 2023, 5:28 PM EDT) -- Patterson-UTI Energy Inc., advised by Gibson Dunn & Crutcher LLP, said Wednesday that it has entered into an agreement to purchase drill bit manufacturer Ulterra Drilling Technologies LP as part of a deal that includes $370 million in cash and 34.9 million shares of Patterson-UTI common stock....

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