SEVENTY SEVEN ENERGY INC. (OTCMKTS:SSEIQ) Files An 8-K Regulation FD Disclosure

SEVENTY SEVEN ENERGY INC. (OTCMKTS:SSEIQ) Files An 8-K Regulation FD Disclosure

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Item7.01.

Regulation FD Disclosure.

On February22, 2017, Seventy Seven Energy Inc. (SSE) issued a
press release announcing it has established a record date for the
special meeting of its stockholders to consider and vote upon
(i)the proposal to adopt the previously announced Agreement and
Plan of Merger (the Merger Agreement) dated as of December12,
2016, by and among SSE, Patterson-UTI Energy, Inc., and Pyramid
Merger Sub, Inc. (the Merger Agreement Adoption Proposal), (ii)
the proposal to approve, on an advisory (non-binding) basis, the
compensation that may be paid or become payable to SSEs named
executive officers in connection with the merger contemplated by
the Merger Agreement and (iii)a proposal to approve the
adjournment of SSEs special meeting to a later date or dates, if
necessary or appropriate, to solicit additional proxies in the
event there are not sufficient votes at the time of the special
meeting to approve the Merger Agreement Adoption Proposal. The
record date for the special meeting has been established as
February22, 2017.

A copy of the press release announcing the record date and
meeting date for the Special Meeting is attached as Exhibit 99.1
hereto and incorporated by reference herein.

Item8.01. Other Events.

To the extent required, the information set forth in Item 7.01 is
incorporated into this Item 8.01 by reference.

Important Information for Investors and
Stockholders

This Current Report on Form 8-K (Form 8-K) does not constitute an
offer to sell or the solicitation of an offer to buy any
securities or a solicitation of any vote or approval. The
acquisition by Patterson-UTI of SSE in an all-stock transaction
(the proposed transaction) will be submitted to the stockholders
of each of Patterson-UTI and SSE for their consideration.
Patterson-UTI has
filed a Registration Statement on Form S-4 that includes a
prospectus and proxy statement jointly prepared by Patterson-UTI
and SSE. SSE and Patterson-UTI may also file other documents with
the Securities and Exchange Commission (the SEC) regarding the
proposed transaction.

INVESTORS AND
SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS
AND ANY OTHER RELEVANT DOCUMENTS THAT WILL BE FILED WITH THE SEC
CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE
PROPOSED TRANSACTION.

Investors and
security holders may obtain free copies of the proxy
statement/prospectus and other documents containing important
information about SSE and Patterson-UTI once such documents are
filed with the SEC through the website maintained by the SEC at
www.sec.gov. Copies of the documents filed with the SEC by
Patterson-UTI will be available free of charge on Patterson-UTIs
website at www.patenergy.com under the tab Investors and then
through the link titled SEC Filings or by contacting
Patterson-UTIs Investor Relations Department by email at
[email protected], or by phone at (281) 765-7100.
Copies of the documents filed with the SEC by SSE will be
available free of charge on SSEs website at www.77nrg.com under
the tab Investors and then through the link titled SEC Filings or
by contacting SSEs Investor Relations Department at [email protected],
or by phone at (405) 608-7730.

Participants in
the Solicitation

Patterson-UTI, SSE
and certain of their respective directors and executive officers
may be deemed to be participants in the solicitation of proxies
from the stockholders of Patterson-UTI in connection with the
proposed transaction. Information about the directors and
executive officers of Patterson-UTI is set forth in
the Proxy Statement on Schedule 14A for Patterson-UTIs 2016
annual meeting of stockholders, which was filed with the SEC on
April15, 2016. Information about the directors and executive
officers of SSE is set forth in the 2015 Annual Report on Form
10-K/A for SSE, which was filed with the SEC on April29, 2016 and
the Current Report on Form 8-K for SSE, which was filed with the
SEC on August1, 2016. These documents can be obtained free of
charge from the sources indicated above. Other information
regarding the participants in the proxy solicitation and a
description of their direct and indirect interests, by security
holdings or otherwise, will be contained in the proxy
statement/prospectus and other relevant materials to be filed
with the SEC when they become available.

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Cautionary
Statement Regarding Forward-Looking
Statements

This Form 8-K contains
forward-looking statements which are protected as forward-looking
statements under the Private Securities Litigation Reform Act of
1995 that are not limited to historical facts, but reflect
Patterson-UTIs current beliefs, expectations or intentions
regarding future events. Words such as anticipate, believe,
budgeted, continue, could, estimate, expect, intend, may, plan,
predict, potential, project, pursue, should, strategy, target, or
will, and similar expressions are intended to identify such
forward-looking statements. The statements in this Form 8-K that
are not historical statements, including statements regarding the
expected timetable for completing the proposed transaction,
benefits and synergies of the proposed transaction, costs and
other anticipated financial impacts of the proposed transaction;
the combined companys plans, objectives, future opportunities for
the combined company and services, future financial performance
and operating results and any other statements regarding
Patterson-UTIs and SSEs future expectations, beliefs, plans,
objectives, financial conditions, assumptions or future events or
performance that are not historical facts, are forward-looking
statements within the meaning of the federal securities laws.
These statements are subject to numerous risks and uncertainties,
many of which are beyond Patterson-UTIs or SSEs control, which
could cause actual results to differ materially from the results
expressed or implied by the statements. These risks and
uncertainties include, but are not limited to: failure to obtain
the required votes of Patterson-UTIs or SSEs
stockholders; the timing to consummate the proposed transaction;
satisfaction of the conditions to closing of the proposed
transaction may not be satisfied or that the closing of the
proposed transaction otherwise does not occur; the risk that a
regulatory approval that may be required for the proposed
transaction is not obtained or is obtained subject to conditions
that are not anticipated; the diversion of management time on
transaction-related issues; the ultimate timing, outcome and
results of integrating the operations of Patterson-UTI and SSE
following the consummation of the proposed transaction; the
effects of the business combination of Patterson-UTI and SSE
following the consummation of the proposed transaction, including
the combined companys future financial condition, results of
operations, strategy and plans; potential adverse reactions or
changes to business relationships resulting from the announcement
or completion of the proposed transaction; expected synergies and
other benefits from the proposed transaction and the ability of
Patterson-UTI to
realize such synergies and other benefits; expectations regarding
regulatory approval of the transaction; results of litigation,
settlements and investigations; actions by third parties,
including governmental agencies; volatility in customer spending
and in oil and natural gas prices, which could adversely affect
demand for Patterson-UTIs services and their associated effect on
rates, utilization, margins and planned capital expenditures;
global economic conditions; excess availability of land drilling
rigs and pressure pumping equipment, including as a result of low
commodity prices, reactivation or construction; liabilities from
operations; weather; decline in, and ability to realize, backlog;
equipment specialization and new technologies; shortages, delays
in delivery and interruptions of supply of equipment and
materials; ability to hire and retain personnel; loss of, or
reduction in business with, key customers; difficulty with growth
and in integrating acquisitions; governmental regulation; product
liability; legal proceedings; political, economic and social
instability risk; ability to effectively identify and enter new
markets; cybersecurity risk; dependence on our subsidiaries to
meet our long-term debt obligations; variable rate indebtedness
risk; and anti-takeover measures in our charter
documents.

Additional information
concerning factors that could cause actual results to differ
materially from those in the forward-looking statements is
contained from time to time in Patterson-UTIs and SSEs SEC
filings. Patterson-UTIs filings may be obtained by contacting
Patterson-UTI or the SEC or through Patterson-UTIs web site at
http://www.patenergy.com or through the SECs Gathering and
Analysis Retrieval System (EDGAR) at http://www.sec.gov. SSEs
filings may be obtained by contacting SSE or the SEC or through
SSEs web site at www.77nrg.com or through EDGAR. Patterson-UTI
and SSE undertake no obligation to publicly update or revise any
forward-looking statement.

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Item9.01. Financial Statements and Exhibits.

(d)Exhibits

99.1 Press release of Seventy Seven Energy Inc. dated February22,
2017.

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About SEVENTY SEVEN ENERGY INC. (OTCMKTS:SSEIQ)

Seventy Seven Energy Inc. is a diversified oilfield services company. The Company provides a range of well site services and equipment to the United States land-based exploration and production (E&P) customers operating in unconventional resource plays. The Company’s segments include Drilling, Hydraulic Fracturing and Oilfield Rentals. The drilling segment is operated through its subsidiary, Nomac Drilling, L.L.C., and provides land drilling services for oil and natural gas E&P activities. The hydraulic fracturing segment is operated through its subsidiary, Performance Technologies, L.L.C. (PTL), and provides high-pressure hydraulic fracturing or frac services and other well stimulation services. The Company’s oilfield rentals segment is operated through its subsidiary, Great Plains Oilfield Rental, L.L.C. (GPOR), and provides premium rental tools and specialized services for land-based oil and natural gas drilling, completion and workover activities.

SEVENTY SEVEN ENERGY INC. (OTCMKTS:SSEIQ) Recent Trading Information

SEVENTY SEVEN ENERGY INC. (OTCMKTS:SSEIQ) closed its last trading session at 0.0000 with 1,138,200 shares trading hands.

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