Patterson-UTI proposes offering of fixed-rate senior notes due 2033

Chicago, Sept. 11 – Patterson-UTI Energy, Inc. plan to sell fixed-rate senior notes due 2033, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be callable with a make-whole premium until the par call period.

Any change of control will trigger a put at 101.

Wells Fargo Securities, LLC, U.S. Bancorp Investments, Inc. and Goldman Sachs & Co. LLC are the joint bookrunners.

U.S. Bank Trust Co., NA will be the trustee.

Gibson, Dunn & Crutcher is working as counsel for the issuer, and Latham & Watkins LLP is handling legal matters for the underwriters.

Proceeds will be used for general corporate purposes and to repay outstanding borrowings under the company’s credit agreement.

Based in Houston, Patterson-UTI provides onshore contract drilling and pressure pumping services to oil and natural gas exploration and production companies.

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