Oilfield Contractor Patterson-UTI to Acquire Pioneer Energy (Bloomberg) Patterson-UTI Energy Inc. agreed to acquire smaller rival Pioneer Energy Services Corp. in a move that could lead to further consolidation among oversupplied contractors in the oilfield. The stock-and-cash deal is valued at about about $295 million, which includes the retirement of all of Pioneers debt, Houston-based Patterson-UTI said Tuesday in a statement. []