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Schedule 13G/A: Blackstone Entities Disclose 28.06M PTEN Shares (7.3%)

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
SCHEDULE 13G/A

Rhea-AI Filing Summary

Patterson-UTI Energy, Inc. received a Schedule 13G/A reporting that a group of Blackstone-related entities and affiliates may be deemed the beneficial owners of 28,061,525 shares of the issuer's common stock, representing 7.3% of the outstanding class based on 385,987,026 shares outstanding. The filing shows that BEP Diamond Aggregator L.P. directly holds 25,958,752 shares while BEP Diamond Topco L.P. has sole voting power and shared dispositive power over 2,102,773 shares that are held in escrow under an Agreement and Plan of Merger dated July 3, 2023.

The statement clarifies the reporting structure among multiple related entities, describes which entities have sole or shared voting and dispositive power, and notes that several reporting persons expressly disclaim beneficial ownership except where directly reported. The filing also includes a certification that the securities were not acquired to change or influence control of the issuer.

Positive

  • Clear disclosure of a material stake: aggregate beneficial ownership of 28,061,525 shares (7.3%) is reported
  • Detailed ownership breakdown: identifies 25,958,752 directly held shares and 2,102,773 escrowed shares
  • Certification of intent: filers certify shares were not acquired to change or influence control

Negative

  • None.

Insights

TL;DR Blackstone-related parties report a 7.3% stake (28.06M shares) in PTEN, disclosed with escrow details and ownership chain.

The Schedule 13G/A provides transparent, itemized ownership data that investors can use to quantify institutional exposure: 28,061,525 shares aggregate beneficial ownership, with 25,958,752 directly held by BEP Diamond Aggregator L.P. and 2,102,773 shares in escrow under the merger agreement. Percentages are based on 385,987,026 shares outstanding per the issuer's April 29, 2025 quarterly filing. The filing is informational and does not assert intent to influence control, which limits immediate governance implications.

TL;DR A coordinated disclosure by multiple Blackstone entities documents voting and dispositive arrangements and an escrow holding tied to a merger agreement.

The document maps control relationships among reporting persons, identifies which entities exercise sole versus shared voting and dispositive power, and explicitly disclaims group status for some filers. The escrowed 2,102,773 shares are subject to release conditions under the Agreement and Plan of Merger dated July 3, 2023, which is material to timing of potential voting influence. The filing includes certification that holdings were not acquired to effect a change in control.






Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)






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BEP Diamond Topco L.P.
Signature:/s/ Omar Rehman
Name/Title:Omar Rehman, Authorized Signatory, See Exhibit 99.1
Date:08/08/2025
BEP Diamond Topco LLC
Signature:/s/ Omar Rehman
Name/Title:Omar Rehman, Authorized Signatory, See Exhibit 99.1
Date:08/08/2025
BEP Diamond Aggregator L.P.
Signature:/s/ Omar Rehman
Name/Title:Omar Rehman, Authorized Signatory, See Exhibit 99.1
Date:08/08/2025
BCP VII/BEP II Holdings Manager L.L.C.
Signature:/s/ Omar Rehman
Name/Title:Omar Rehman, Authorized Signatory, See Exhibit 99.1
Date:08/08/2025
Blackstone Energy Management Associates II L.L.C.
Signature:/s/ Omar Rehman
Name/Title:Omar Rehman, Authorized Signatory, See Exhibit 99.1
Date:08/08/2025
Blackstone Management Associates VII L.L.C.
Signature:/s/ Omar Rehman
Name/Title:Omar Rehman, Authorized Signatory, See Exhibit 99.1
Date:08/08/2025
BMA VII L.L.C.
Signature:/s/ Omar Rehman
Name/Title:Omar Rehman, Authorized Signatory, See Exhibit 99.1
Date:08/08/2025
Blackstone EMA II L.L.C.
Signature:/s/ Omar Rehman
Name/Title:Omar Rehman, Authorized Signatory, See Exhibit 99.1
Date:08/08/2025
Blackstone Holdings III L.P.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, MD - Assistant Secretary, See Exhibit 99.1
Date:08/08/2025
Blackstone Holdings III GP L.P.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary, See Exhibit 99.1
Date:08/08/2025
Blackstone Holdings III GP Management L.L.C.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary, See Exhibit 99.1
Date:08/08/2025
Blackstone Inc.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary, See Exhibit 99.1
Date:08/08/2025
Blackstone Group Management L.L.C.
Signature:/s/ Victoria Portnoy
Name/Title:Victoria Portnoy, Managing Director - Assistant Secretary, See Exhibit 99.1
Date:08/08/2025
Stephen A. Schwarzman
Signature:/s/ Stephen A. Schwarzman
Name/Title:Stephen A. Schwarzman, See Exhibit 99.1
Date:08/08/2025
Exhibit Information

EXHIBIT LIST Exhibit 99.1 Signature Blocks.

FAQ

What stake does Blackstone report in Patterson-UTI Energy (PTEN)?

The Reporting Persons collectively report beneficial ownership of 28,061,525 shares, representing 7.3% of PTEN's common stock as of June 30, 2025.

How many PTEN shares does BEP Diamond Aggregator L.P. directly hold?

25,958,752 shares are directly held by BEP Diamond Aggregator L.P., per the filing.

What are the escrowed shares reported in the filing?

BEP Diamond Topco L.P. maintains sole voting power and shared dispositive power over 2,102,773 shares held in escrow under the Agreement and Plan of Merger dated July 3, 2023.

On what share count are the percentage figures based?

Percentages are calculated using 385,987,026 shares outstanding as disclosed by the issuer in a quarterly report filed April 29, 2025.

Does the filing state an intent to influence control of PTEN?

The filing includes a certification that the securities were not acquired and are not held for the purpose of changing or influencing control of the issuer.
Patterson-Uti Energy Inc

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