PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) Files An 8-K Other Events
Item8.01
| Other Events. |
As previously reported, on December12, 2016, Patterson-UTI Energy, Inc.
(the Company) entered into an Agreement and Plan of Merger (the
Merger Agreement) with Seventy Seven Energy Inc. (SSE) and
Pyramid Merger Sub, Inc., a direct, wholly owned subsidiary of
the Company (Merger Sub), to which, upon the terms and subject to
the conditions set forth therein, Merger Sub will be merged with
and into SSE, with SSE continuing as the surviving entity and a
wholly owned subsidiary of the Company (the Merger). On January
23, 2017, the Company filed a Registration Statement on Form S-4
(File No.333-215655) relating to the Merger.
The Company is
filing this Current Report on Form 8-K to provide certain
financial information with respect to the Merger.
Included in this
filing as Exhibit 99.1 is the unaudited pro forma condensed
combined financial information described in Item9.01(b)
below.
| Item9.01 | Financial Statements and Exhibits. |
(b) Pro Forma
Financial Information
The following
unaudited pro forma condensed combined financial information of
the Company, giving effect to the Merger and the adjustments set
forth therein, is included in Exhibit99.1 hereto:
|
Unaudited pro forma condensed combined balance sheet as of December31, 2016, the unaudited pro forma condensed combined statements of operations for the year ended December31, 2016 and the related notes to the unaudited pro forma condensed combined financial statements. |
(d)
Exhibits.
|
Exhibit Number |
Description |
|
| 99.1 | Unaudited pro forma condensed combined financial information. |
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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. PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) Recent Trading Information
PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) closed its last trading session up +0.73 at 28.62 with 3,564,974 shares trading hands.
