Patterson-UTI Energy plans to price private offering of notes

By Devika Patel

Knoxville, Tenn., Jan. 5 – Patterson-UTI Energy, Inc. intends to conduct a private sale of senior unsecured notes, according to a press release.

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

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

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