Jordan Soto, executive producer, Hart Energy: Patterson-UTI and NexTier just closed their $5.4 billion mega merger, creating one of North America's largest services companies. This is your A&D Minute powered by BOK Financial Securities.
Combining Patterson-UTI and NexTier Oilfield Solutions creates the largest U.S. shale drilling and completions pure play with a presence across the nation's most active basins.
Andy Hendricks, president and CEO, Patterson-UTI: We're celebrating 30 years on the NASDAQ, but even bigger than that for us, we've just recently closed on the merger with NexTier Oilfield Solutions. Our world has changed significantly at Patterson-UTI with what we've announced this year.
JS: Viper Energy Partners is picking up roughly $1 billion in mineral and royalty interests, including the prolific Permian Basin. The Diamondback subsidiary’s deal also includes net royalty acres in the Denver-Julesburg Basin, but according to Viper, over 90% of the deal's value were in Permian interests in the Midland and Delaware basins.
Western Midstream Partners is expanding its Powder River footprint by scooping up Meritage Midstream Services for $885 million. Meritage has around 1500 miles of gas gathering pipelines in the core of Wyoming's Powder River Basin.
The midstream sector has seen a flurry of M&A activity this year. Where will we see other deals get inked? That's your A&D Minute with BOK Financial Securities.
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