Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Files An 8-K Entry into a Material Definitive Agreement
Item 2.03 Entry into a Material Definitive Agreement.
On March 26, 2019, Patterson-UTI Energy, Inc. (the “Company”) entered into Amendment No. 1 to Amended and Restated Credit Agreement (the “Amendment”), which amends the Company’s amended and restated credit agreement, dated as of March 27, 2018 (the “Credit Agreement”), among the Company, as borrower, Wells Fargo Bank, National Association, as administrative agent, letter of credit issuer, swing line lender and lender and each of the other letter of credit issuers and lenders party thereto.
The Amendment, among other things, extends the maturity date under the Credit Agreement from March 27, 2023 to March 27, 2024.The Credit Agreement is described in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital Resources” of the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, which description is incorporated herein by reference herein.
The above description of the Amendment is qualified in its entirety by reference to the complete text of the Amendment filed as Exhibit 10.1 hereto.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information described in Item 2.03 above is incorporated by reference into this Item 2.03.
Item 2.03 Financial Statements and Exhibits.
(d) Exhibits.
|
10.1 |
Amendment No. 1 to Amended and Restated Credit Agreement, dated March 26, 2019, among Patterson-UTI Energy, Inc., as borrower, Wells Fargo Bank, National Association, as administrative agent, letter of credit issuer, swing line lender and lender and each of the other letter of credit issuers and lenders party thereto. |
PATTERSON UTI ENERGY INC Exhibit
EX-10.1 2 pten-ex101_7.htm EX-10.1 pten-ex101_7.htm Exhibit 10.1 Execution Version AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT This AMENDMENT NO. 1 TO AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”),…
To view the full exhibit click here
About Patterson-UTI Energy, Inc. (NASDAQ:PTEN)
Patterson-UTI Energy, Inc. owns and operates fleets of land-based drilling rigs and a fleet of pressure pumping equipment in the United States. The Company operates in three segments: Contract Drilling, Pressure Pumping, and Oil and Natural Gas. The Company provides contract drilling services to oil and natural gas operators in the continental United States, and western and northern Canada. The Company provides pressure-pumping services to oil and natural gas operators. The Company also invests in oil and natural gas properties. The Company’s Contract Drilling segment markets its contract drilling services to oil and natural gas operators. The Company’s Pressure Pumping segment provides pressure-pumping services to oil and natural gas operators in Texas and the Appalachian region. The Company’s oil and natural gas working interests are located in producing regions of Texas and New Mexico. Pressure pumping services consist of well stimulation, such as hydraulic fracturing.
