pattersonuti energy pten has announced a merger with nextier oilfield nex that is expected to be completed in q4 of 2023 under the terms of the agreement pattersonuti energy has agreed to give nextier oilfield 540 billion in in exchange for nex stock currently neither company has disclosed whether the paymentwill be in cash or in stock pattersonuti energy is one of the largest land rig drilling contractors in the united states and maintains moderately sized pressurepumping operations primarily in texas and the appalachian region plus some modest operations in colombia it also provides directional drilling services and tool rental services in most u nextier oilfield solutions inc is a us a merger happens when a company combines operations with another company in practice one company will buy the other companys stock in exchange for its own stock in some cases cash is used to pay for the companys stock but usually the companies agree to a stockforstock transaction due to the exchange and acquisition of stock a merger is similar to an acquisition this is why the two terms are commonly grouped together as mergers and acquisitions ma however in a merger the leadership  operations of both companies usually change dramatically while during an acquisition this is less likely to happen make sure to follow our mergers  acquisitions calendar to stayuptodate on the most recent ma deals this article was generated by benzingas automated content engine and reviewed by an editor