Key Developments: Patterson-UTI Energy Inc (PTEN.O)
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$21.95
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$21.86
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1,035,915
3,468,745
$25.48
$12.81
Latest Key Developments (Source: Significant Developments)
Patterson-UTI Energy Inc Declares Quarterly Cash Dividend
Patterson-UTI Energy Inc announced that it has declared a quarterly cash dividend on its common stock of $0.05 per share, to be paid on June 28, 2013 to holders of record as of June 14, 2013. Full Article
Patterson-UTI Energy Inc Declares Quarterly Cash Dividend
Patterson-UTI Energy Inc announced that it has declared a quarterly cash dividend on its common stock of $0.05 per share, to be paid on March 29, 2013 to holders of record as of March 15, 2013. Full Article
Patterson-UTI Energy Inc Declares Quarterly Cash Dividend
Patterson-UTI Energy Inc announced that it has quarterly cash dividend on its common stock of $0.05 per share, to be paid on December 28, 2012 to holders of record as of December 14, 2012. Full Article
Patterson-UTI Energy Inc Announces $600 Million Credit Agreement
Patterson-UTI Energy Inc announced that it has entered into a $600 million, five-year credit agreement with a group of financial institutions led by Wells Fargo Bank, N.A. The credit agreement replaces the Company's 2010 credit agreement, which was scheduled to mature in less than one year. The credit agreement is a committed senior unsecured facility totaling $600 million. The new agreement increases the Company's revolving line of credit by $100 million to $500 million. The credit agreement also includes a $100 million term loan that the Company plans to fund in the fourth quarter of 2012. The Company may request that the lenders' aggregate commitments with respect to the revolving credit facility and/or the term loan facility be increased by up to $100 million, not to exceed total commitments of $700 million. The Company may use proceeds from borrowings under the credit agreement for working capital, capital expenditures, letters of credit, acquisitions, repurchases by the Company of its capital stock and general corporate purposes. Full Article
Patterson-UTI Energy Inc Announces Appointment of Andy Hendricks as Chief Executive Officer
Patterson-UTI Energy Inc announced that its Board of Directors has appointed William Andrew (Andy) Hendricks, Jr. as Chief Executive Officer(CEO) effective October 1, 2012, elevating him from his current position of Chief Operating Officer. He will replace Douglas J. Wall, who is retiring as CEO on September 30, 2012. Full Article
Patterson-UTI Energy Inc Completes $300 Million Private Placement of Senior Unsecured Notes
Patterson-UTI Energy Inc announced that it issued and sold $300 million aggregate principal amount of unsecured 4.27% Series B Senior Notes due June 14, 2022. The Company sold the notes in a private placement to accredited investors pursuant to an exemption from registration under the Securities Act of 1933, as amended. The Company used most of the proceeds from the sale of the notes to pay off its revolving line of credit and term loan under its bank credit facility. The remaining proceeds will be used for general corporate purposes. Full Article
TETRA Technologies, Inc. Announces Acquisition Of Eastern Reservoir Services
TETRA Technologies, Inc. announced that it has acquired Eastern Reservoir Services (ERS), a division of Patterson-UTI Energy, Inc., for $42.5 million in cash. Full Article
Patterson-UTI Energy, Inc. Announces Sale Of Flowback Operations
Patterson-UTI Energy, Inc. announced that it sold its flowback operations to TETRA Technologies, Inc. in a cash transaction. The sale price was $42.5 million and a subsidiary of Patterson-UTI retained the associated financial working capital of approximately $5 million. Full Article
Patterson-UTI Energy, Inc. Declares Quarterly Cash Dividend
Patterson-UTI Energy, Inc. announced that it has declared a quarterly cash dividend on its common stock of USD0.05 per share, to be paid on March 30, 2012 to holders of record as of March 15, 2012. Full Article
Patterson-UTI Energy, Inc. Declares Quarterly Cash Dividend
Patterson-UTI Energy, Inc. announced that the Company declared a quarterly cash dividend on its common stock of $0.05 per share, to be paid on December 30, 2011 to holders of record as of December 15, 2011. Full Article
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