Current PTEN Stock Info

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 Seventy Seven Energy totaling $472 million ($403 million net of cash from Seventy Seven Energy).  Additionally, Patterson...

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