Thursday, February 6, 2025
Oil & Gas 360 - Haynes & Boone Borrowing Base Redeterminations Survey

Patterson-UTI Energy Completes Merger

Patterson-UTI (NASDAQ: PTEN) closed its merger with Seventy Seven Energy Inc. Stockholders of Seventy Seven Energy are entitled to receive 1.7851 shares of newly issued Patterson-UTI common stock in exchange for each share of Seventy Seven Energy.  Patterson-UTI issued approximately 47.5 million shares pursuant to the merger. Concurrent with the closing of the merger, Patterson-UTI repaid all of the outstanding debt of