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Business Combination - Schedule of Fair Value of Consideration Transferred (Details) $ / shares in Units, $ in Thousands | Sep. 01, 2023 USD ($) $ / shares shares | Aug. 14, 2023 USD ($) $ / shares shares | Sep. 30, 2023 shares | Dec. 31, 2022 shares
--- | --- | --- | --- | ---
Business Acquisition [Line Items] |  |  |  |  |
Number of shares common stock outstanding | shares |  |  |  | 417,303,286 | 213,567,131
Ulterra Drilling Technologies, L.P. [Member] |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |
Shares of our common stock issued to nextier Oilfield | shares |  |  | 34,900,000 |  |
Common stock price | $ / shares |  |  | $ 14.94 |  |
Common stock equity consideration |  |  | $ 521,406 |  |
Plus net cash consideration | [1] |  | 375,740 |  |
Total consideration transferred |  |  | $ 897,146 |  |
NexTier Oilfield Solutions Inc. [Member] |  |  |  |  |
Business Acquisition [Line Items] |  |  |  |  |
Number of shares common stock outstanding | shares |  | 229,022,000 |  |  |
Multiplied by the exchange ratio |  | 0.752 |  |  |
Shares of our common stock issued to nextier Oilfield | shares |  | 172,224,000 |  |  |
Common stock price | $ / shares |  | $ 14.91 |  |  |
Common stock equity consideration |  | $ 2,567,872 |  |  |
Acceleration of RSU awards |  | 1,997 |  |  |
Fair value of replacement equity awards | [2] | 70,416 |  |  |
NexTier long-term debt repaid by Patterson-UTI |  | 161,000 |  |  |
Total consideration transferred |  | $ 2,801,285 |  |  |
[1] | Net cash consideration included $370 million cash consideration as adjusted for customary purchase price adjustments set forth in the Ulterra merger agreement relating to cash, net working capital, indebtedness and transaction expenses of Ulterra as of the closing. The adjustment is subject to a post-closing target net working capital adjustment in accordance with the Ulterra merger agreement.
[2] | In connection with the merger, each of the share-based awards held by legacy NexTier employees were replaced with our share-based awards on the merger date. The fair value of the replacement awards has been allocated between each employee’s pre-combination and post-combination services. Amounts allocated to pre-combination services have been included as consideration transferred as part of the merger. See Note 12 for replacement awards details.

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