29 Oct 2010director interest notice● Neutral
PATTERSON UTI ENERGY INC Chief Accounting Officer Gregory W Pipkin had 51 shares withheld for taxes on vesting stock.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
6 Oct 2010debt financing● NeutralMajor
On October 5, 2010 the company sold $300 million of 4.97% Series A Senior Notes due October 5, 2020 in a private placement, guaranteed by its domestic subsidiaries (other than immaterial ones). The filing does not say what the proceeds will be used for.
6 Oct 2010securities registration● Neutral
PATTERSON UTI ENERGY INC filed notice of an exempt private placement.
29 Sept 2010director interest notice● Neutral
PATTERSON UTI ENERGY INC Chief Accounting Officer Gregory W Pipkin had 51 shares withheld for taxes on vesting stock.
31 Aug 2010director interest notice● Neutral
PATTERSON UTI ENERGY INC Chief Accounting Officer Gregory W Pipkin had 576 shares withheld for taxes on vesting stock.
19 Aug 2010debt financing● NeutralMajor
On August 19, 2010 the company signed a new $500 million unsecured credit agreement with Wells Fargo (a $400 million revolver maturing August 2013 and a $100 million term loan maturing August 2014) and drew the full $100 million term loan that day. It replaced the March 2009 credit agreement, which was terminated, with existing letters of credit carried over.
17 Aug 2010director interest notice● Neutral
PATTERSON UTI ENERGY INC Chief Accounting Officer Gregory W Pipkin had 1,180 shares withheld for taxes on vesting stock.
29 July 2010director interest notice● Neutral
PATTERSON UTI ENERGY INC Chief Accounting Officer Gregory W Pipkin had 51 shares withheld for taxes on vesting stock.
6 July 2010material agreement● NeutralMajor
On July 2, 2010 Patterson-UTI agreed to buy pressure pumping and electric wireline assets from Key Energy Services subsidiaries for about $237.7 million in cash, subject to adjustments and to Hart-Scott-Rodino waiting-period clearance, with a December 1, 2010 closing deadline. To help fund it, it also signed a 364-day, $250 million unsecured term loan with Wells Fargo that must be drawn by September 30, 2010 (October 30 with an extra fee).
29 June 2010director interest notice● Neutral
PATTERSON UTI ENERGY INC Chief Accounting Officer Gregory W Pipkin had 51 shares withheld for taxes on vesting stock.
11 June 2010director interest notice● Neutral
PATTERSON UTI ENERGY INC GENERAL COUNSEL AND SECRETARY Seth David Wexler received 20,000 shares as part of the equity award.