Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Files An 8-K Other EventsItem 8.01 Other Events.
On April 21, 2017, Patterson-UTI Energy, Inc. (the “Company”) filed a Current Report on Form 8-K reporting, among other things, the completion of the Company’s merger (the “SSE merger”) with Seventy Seven Energy Inc. (“SSE”).This Current Report on Form 8-K is being filed to provide (i) unaudited consolidated financial statements of SSE as of and for the three months ended March 31, 2017 and (ii) an unaudited pro forma condensed combined statement of operations of the Company for the year ended December 31, 2017, giving effect to the SSE merger as if it had occurred on January 1, 2017.The Company is filing thisfinancial informationin order tocomply with certain financial statement requirements that will be applicable upon the filing by the Company of a registration statement under the Securities Act of 1933 prior to the filing of the Company’s annual report on Form 10-K for the year ended December 31, 2018, including the registration statement with respect totheCompany’s3.95% Senior Notes due 2028 (the “Notes”) required bytheRegistrationRightsAgreement, dated January 19, 2018, among the Company, the guarantors of theNotes, andGoldman, Sachs & Co. LLC, Wells Fargo Securities, LLC and Merrill Lynch, Pierce,Fenner& Smith Incorporated.
Item 9.01 Financial Statements and Exhibits.
(a) Financial Statements of Business Acquired
The unaudited consolidated financial statements of SSE as of and for the three months ended March 31, 2017, together with the notes thereto, are attached hereto as Exhibit 99.1.
(b) Pro Forma Financial Information
The unaudited pro forma condensed combined statement of operations of Patterson-UTI for the year ended December31, 2017, together with the notes thereto, is attached hereto as Exhibit 99.2.
PATTERSON UTI ENERGY INC ExhibitEX-99.1 2 pten-ex991_67.htm EX-99.1 pten-ex991_67.htm Exhibit 99.1 SEVENTY SEVEN ENERGY INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited,…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.