American Oil and Gas Reporter - January 2017 - 134

IndustryFocus: Companies, People and Products
Seventy Seven To Merge Into Patterson-UTI Energy
HOUSTON-Patterson-UTI Energy
Inc. and Seventy Seven Energy Inc. announce they have entered into a definitive
merger agreement under which Patterson-UTI will acquire Seventy Seven in
an all-stock transaction.
Patterson-UTI says the transaction will
further solidify it as a leader in the U.S.
land drilling market with 201 high-spec
rigs. The company adds that it will have
one of the industry's largest, most modern
pressure pumping fleets, with 1.5 million
hydraulic fracturing horsepower located
in some of the United States' most prolific
regions.

"We are very excited to be joining
forces with Seventy Seven Energy," says
Andy Hendricks, Patterson-UTI's chief
executive officer. "Its contributions will
allow us to further capitalize on the shifting
industry fundamentals in the U.S. oil and
gas market, where customers are focused
increasingly on efficiency and high-quality
execution. This merger provides both
strong personnel and high quality equipment
that are complementary to our existing
service offerings."
Patterson-UTI predicts the merger will
close in first quarter 2017.
r

Tenaris Opens Facility To Aid Permian Drillers
HOUSTON-Tenaris has inaugurated
its service center in Midland, Tx. The
company describes the $36 million facility
as critical to deploying Rig Direct™, a
new business model through which it
works directly with customers to synchronize pipe manufacturing with drilling
operations.
The facility will store, inspect and
deliver oil country tubular goods, accessories, sucker rods, and in the future,
coiled tubing, Tenaris says.
"The investment in Midland represents a major shift in how we serve our
customers with increased visibility, flexibility and streamlined logistics solutions," says Tenaris Chairman and Chief
Executive Officer Paolo Rocca. "We

have decades of expertise in manufacturing. We have a complete product
portfolio. We have the industrial system
to support an endeavor such as Rig Direct."
Tenaris indicates 90 percent of its
OCTG sales in the Permian Basin are
through Rig Direct, which consists of
technical consulting, pipe management
services, and field support. The company
says the Midland service center will
complement the Tenaris seamless pipe
mill under construction in Bay City, Tx.,
which is expected to be operational by
mid-2017 and will allow more rapid responses to customers in U.S. shale plays.
For information, visit www.te naris.com/rigdirect.
❒

From left are Midland Mayor Jerry Morales, Tenaris North America President Germán Curá,
Pioneer Natural Resources Vice President of Supply Chain Management Alba Tellez, Midland
County Judge Mike Bradford, Tenaris Chairman and Chief Executive Officer Paolo Rocca,
and Tenaris Vice President and Managing Director for the United States Luca Zanotti.

134 THE AMERICAN OIL & GAS REPORTER

RPSEA To Reorganize,
Pursue More Funding
HOUSTON-Under a strategic plan released by the Research Partnership to Secure Energy for America, the nonprofit
consortium will expand the scope of its
Environmental & Safety Committee, and
establish regulatory and investor committees.
The cooperative research and development network of oil and gas experts says it
also has begun pursuing broader sources
of funding for projects, and will continue
to pursue government financing from state
and federal agencies. RPSEA indicates it
is pursuing project opportunities with individual energy companies, joint industry
projects, foundations, and not for profits.
The strategic plan streamlines the organization by merging multiple programs
into onshore and offshore areas.
"We have an enormous opportunity to
provide badly needed research for addressing the top challenges the oil and gas
industry is facing today," says RPSEA
President Tom Williams. "This unique
consortium of oil and gas producers, service
companies, research universities and national laboratories can manage top-notch
research teams with superior, specialized
skills for finding technology solutions that
will lead to commercial successes. This
strategic plan sets a course for us to firmly
establish ourselves as the premier problem
solver for the U.S. energy industry." r

OTA Compression Honored
For Sustaining Fast Growth
IRVING, TX.-OTA Compression LLC,
a national provider of vapor recovery and
wellhead compression solutions, announces
its fifth induction into the Aggie 100 by
the Mays Business School's Center for
New Ventures and Entrepreneurship at
Texas A&M University.
CNVE provides encouragement, education, networking and assistance to entrepreneurially-minded students, faculty
and Texas businesses, OTA says. Since
2005, CNVE has honored the world's 100
fasted-growing companies each year that
are owned or led by Texas A&M graduates.
OTA points out that this year's award ceremony included 700 business leaders from
seven states and three countries.
Nominees are ranked by percentage of
compound annual growth in sales or revenues (net of returns).
For information, visit http://aggie100.com
or www.otacompression.com.
r



American Oil and Gas Reporter - January 2017

Table of Contents for the Digital Edition of American Oil and Gas Reporter - January 2017

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