As previously
disclosed, on December12, 2016, SSE entered into an Agreement and
Plan of Merger (the Merger Agreement) with Patterson-UTI and
Pyramid Merger Sub, Inc. (the Merger). SSE is filing this Current
Report on Form 8-K to provide certain updates in respect of the
proposed Merger. The following information should be read in
conjunction with the joint proxy statement/prospectus (the Joint
Proxy Statement/Prospectus) relating to the proposed Merger,
filed with the SEC on March22, 2017.

As disclosed on
page 125 of the Joint Proxy Statement/Prospectus, on February22,
2017, Maria Comeaux, a purported stockholder of SSE filed a
putative class action challenging the disclosures made in
connection with the Merger against SSE and the members of SSEs
board of directors. This lawsuit is >

The related
complaint (the Comeaux Complaint) alleges inadequacies in the
Merger price and the process leading up to it, and claims that
the Joint Proxy Statement/Prospectus filed in connection with the
merger fails to disclose certain allegedly material information
in violation of Sections 14(a) and 20(a) of the U.S. Securities
Exchange Act of 1934, as amended (the Exchange Act), and certain
rules promulgated thereunder. The alleged omissions generally
relate to (i)certain financial projections; (ii)certain valuation
analyses performed by SSEs financial advisor, Morgan Stanley; and
(iii)alleged conflicts of interest faced by Morgan Stanley and a
director of SSE. Based on these allegations, Comeaux sought to
enjoin the forthcoming stockholder vote on the Merger unless and
until SSE discloses the allegedly omitted material information
summarized above. Comeaux also seeks damages and attorneys fees.
On April10, 2017, plaintiff Comeaux withdrew her motion for a
preliminary injunction.

On March31, 2017,
Garud Sudarsan, a purported holder of Series B and Series C
Warrants of SSE, filed a putative class action against SSE,
Patterson-UTI and Merger Sub. This lawsuit is >

On April7, 2017,
Mainard Gael, a purported stockholder of SSE, filed a putative
class action challenging the disclosures made in connection with
the merger against SSE and the members of SSEs board of
directors. This lawsuit is >

1

connection with
the proposed Merger; (iv)the identities of holders of Series A
Warrants of SSE, which information the Gael Complaint alleges is
necessary in order to determine whether the Significant SSE
Stockholders held significant Series A Warrants of SSE,
notwithstanding the fact that, had the Significant SSE
Stockholders held Series A Warrants, such ownership would have
been required to be disclosed in the Joint Proxy
Statement/Prospectus; and (v)alleged conflicts of interest faced
by Morgan Stanley. Based on these allegations, Gael seeks to
enjoin the consummation of the Merger, and if the proposed Merger
is consummated, Gael seeks damages.

On April10, 2017,
Louis Scarantino, a purported stockholder of SSE, filed a
putative class action challenging the disclosures made in
connection with the merger against SSE, the members of SSEs board
of directors, Patterson-UTI and Merger Sub. This lawsuit is
>

SSE and
Patterson-UTI believe that each of these lawsuits is without
merit, that the alleged omissions in the Comeaux, Sudarsan and
Scarantino Complaints are not material and intend to vigorously
defend against each of them. Neither SSE nor Patterson-UTI can
predict the outcome of these lawsuits or any others that might be
filed, nor can they predict the amount of time and expense that
will be required to defend the lawsuits. None of the foregoing
lawsuits are expected to affect the consummation of the Merger,
which is currently expected to occur on April20, 2017.

The descriptions
above are qualified in their entireties by reference to the
Comeaux Complaint, Sudarsan Complaint, Gael Complaint and
Scarantino Complaint, which are attached to this Current Report
on Form 8-K as Exhibits 99.2, 99.3, 99.4 and 99.5, respectively,
and are incorporated into this Item 8.01 by reference.

Important
Information for Investors and Stockholders