$PTEN (Patterson-UTI Energy Inc.)

$PTEN {{ '2016-04-05T11:42:57+0000' | timeago}} • Announcement

$PTEN said it had an average of 64 drilling rigs operating in the United States and less than one rig in Canada for the month of March 2016. For 3 months ended March 31, 2016, $PTEN had an average of 71 drilling rigs operating in the United States and 3 rigs in Canada.

$PTEN {{ '2018-01-10T20:11:51+0000' | timeago}} • Announcement

$PTEN has priced its previously announced private offering of $525MM aggregate principal amount of 3.95% senior notes due 2028. The company intends to use the net proceeds to repay amounts outstanding under its credit agreement and for general corporate purposes. The offering is expected to close on Jan 19, 2018.

$PTEN {{ '2018-01-05T14:23:14+0000' | timeago}} • Announcement

Energy company $PTEN said it is planning to initiate a private offering of its senior notes. Patterson intends to use the net proceeds from the offering to repay loans and for general corporate purposes.

$PTEN {{ '2018-01-04T12:44:47+0000' | timeago}} • Announcement

$PTEN reported drilling activity for December 2017. For the month, the company had an average of 163 drilling rigs operating. For the three months ended Dec. 31, 2017, the company had an average of 161 drilling rigs operating.

$PTEN {{ '2017-12-05T15:19:56+0000' | timeago}} • Announcement

$PTEN reported that for the month of November 2017, the company had an average of 161 drilling rigs operating. For the two months ended November 30, 2017, the company had an average of 159 drilling rigs operating.

$PTEN {{ '2017-10-12T13:35:02+0000' | timeago}} • Announcement

$PTEN, a provider of drilling services to the energy sector, completed the acquisition of oilfield service firm Multi-Shot, LLC for around $262MM. The purchase consideration comprises about 8.8MM shares and $75MM of cash. Currently, Multi-Shot operates under the name MS Energy Services.

$PTEN {{ '2017-09-05T12:40:18+0000' | timeago}} • Announcement

$PTEN has agreed to acquire Multi-Shot, LLC d/b/a MS Energy Services, on a debt-free basis for total consideration of approx. 8.8MM shares of Patterson-UTI common stock and $75MM of cash. The transaction is expected to close early in the fourth quarter.

$PTEN {{ '2017-09-05T12:35:56+0000' | timeago}} • Announcement

Oilfield services company $PTEN has appointed C. Andrew Smith as the company's CFO. Smith most recently served as EVP and CFO of Kirby Corporation.

$PTEN {{ '2017-06-05T12:34:38+0000' | timeago}} • Announcement

$PTEN said it had an average 159 drilling rigs operating in the U.S. and one rig in Canada for the month of May 2017. For the 2 months ended May 31, 2017 the company had an average 138 drilling rigs operating in the U.S. and two rigs in Canada.

$PTEN {{ '2017-05-11T12:12:11+0000' | timeago}} • Announcement

$PTEN said John Vollmer III, EVP, Corporate Development, CFO and Treasurer, has notified the company of his decision to retire after nearly 20 years of distinguished service. His retirement will become effective after a transition period following the employment of his successor, which the company expects to occur before the end of the year.

$PTEN {{ '2017-04-20T20:32:04+0000' | timeago}} • Announcement

$PTEN closed its merger with Seventy Seven Energy. $PTEN repaid all of the outstanding debt of Seventy Seven Energy totaling $472MM. $PTEN entered into an agreement with its lenders by which the available commitment under its revolving credit facility was increased to $632MM through September 2017, and to $490MM through March 2019.

$PTEN {{ '2017-04-20T20:31:11+0000' | timeago}} • Announcement

$PTEN closed its merger with Seventy Seven Energy. Stockholders of Seventy Seven Energy are entitled to receive 1.7851 shares of newly issued $PTEN common stock in exchange for each share of Seventy Seven Energy.  $PTEN issued about 47.5MM shares pursuant to the merger.

$PTEN {{ '2017-04-11T13:01:32+0000' | timeago}} • Announcement

Seventy Seven Energy (SSE) and $PTEN said SSE extends deadline for warrant exercises. SSE and $PTEN does not believe that the extension of this deadline will impact the consummation of the merger, which is expected to occur on April 20, 2017.

$PTEN {{ '2017-04-11T13:00:34+0000' | timeago}} • Announcement

Seventy Seven Energy Inc. (SSE) and $PTEN said that SSE was extending the deadline for holders of its outstanding warrants to exercise those warrants in advance of the consummation of the merger contemplated by Agreement and Plan of Merger dated as of Dec. 12, 2016, by and among SSE, $PTEN, and Pyramid Merger Sub.

$PTEN {{ '2017-04-05T12:43:19+0000' | timeago}} • Announcement

$PTEN has an average of 88 drilling rigs operating in the U.S. and two rigs in Canada for the month of March 2017. For 3 months ended March 31, 2017, $PTEN had an average of 81 drilling rig operating in the U.S. and two rigs in Canada.

$PTEN {{ '2017-03-22T21:11:30+0000' | timeago}} • Announcement

$PTEN said it will hold a special stockholders meeting in connection with the proposed merger with Seventy Seven Energy Inc. (SSE) on April 20, 2017. The stockholders of record on Feb. 22, 2017 will be entitled to receive notice of the special meeting and to vote at the meeting.

$PTEN {{ '2017-03-06T12:42:20+0000' | timeago}} • Announcement

In February 2017, $PTEN had an average of 80 drilling rigs operating in the US and two rigs in Canada. For the two months ended February 28, 2017, $PTEN had an average of 78 drilling rigs operating in the US and two in Canada.

$PTEN {{ '2017-01-25T12:28:40+0000' | timeago}} • Announcement

$PTEN commenced an underwritten public offering of 14.8MM common shares. The company expects to grant the underwriters an option to purchase up to an additional 2.22MM common shares. $PTEN plans to use proceeds to fund the repayment of the outstanding debt of Seventy Seven Energy at closing of its merger with Seventy Seven Energy.

$PTEN {{ '2017-01-24T11:50:13+0000' | timeago}} • Announcement

$PTEN expects revenues of approximately $247MM, adjusted EBITDA of approximately $44MM and a net loss of approximately $78.1MM or $0.53 per share for 4Q16.

$PTEN {{ '2016-12-13T13:09:38+0000' | timeago}} • Announcement

$PTEN to acquire Seventy Seven Energy in an all stock deal of approx. $1.76Bil. The transaction which is subject to customary regulatory approvals, is expected to close late in 1Q17. $PTEN said it expects to achieve synergies in excess of $50MM and believes the merger will be accretive to cash flow per share.

$PTEN {{ '2016-12-13T13:02:37+0000' | timeago}} • Announcement

$PTEN and an Oklahoma-based company Seventy Seven Energy Inc. said the two together have entered into a definitive merger agreement. Under the terms of transaction, $PTEN will acquire all of the issued and outstanding shares of common stock of Seventy Seven Energy, in exchange for approx. 49.6MM shares of common stock of $PTEN.

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