30 Oct 2017securities registration● Neutral
PATTERSON UTI ENERGY INC filed a prospectus supplement covering resales by selling shareholders.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
26 Oct 2017quarterly activities report▼ Bad
PATTERSON UTI ENERGY INC reported quarterly revenue of $685.0 million and a net loss of $33.8 million for the period ended 2017-09-30.
12 Oct 2017securities registration● Neutral
PATTERSON UTI ENERGY INC filed an automatic shelf registration, effective immediately as a well-known seasoned issuer.
12 Oct 2017capital raising announcement● NeutralMajor
Patterson-UTI closed its purchase of Multi-Shot, LLC (MS Energy Services) on October 11, 2017, paying $75 million in cash and 8,798,391 new shares of its common stock, which the company valued at about $262 million based on a $21.31 share price. This adds a directional drilling business to the contract drilling and pressure pumping operations, and the new shares are issued to the sellers, so existing holders are diluted by that amount.
8 Sept 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC EVP & Chief Financial Officer Charles Andrew Smith received a stock option grant for 94,117 shares.
8 Sept 2017director interest notice● Neutral
Charles Andrew Smith became a PATTERSON UTI ENERGY INC EVP & Chief Financial Officer and company insider (initial ownership filing).
4 Aug 2017quarterly activities report▼ Bad
PATTERSON UTI ENERGY INC reported quarterly revenue of $579.2 million and a net loss of $92.2 million for the period ended 2017-06-30.
1 Aug 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC President & CEO William Andrew Hendricks Jr. had 5,127 shares withheld for taxes on vesting stock.
27 July 2017quarterly activities report▼ Bad
PATTERSON UTI ENERGY INC reported quarterly revenue of $579.2 million and a net loss of $92.2 million for the period ended 2017-06-30.
14 July 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC SVP/General Counsel/Secretary Seth David Wexler received a stock option grant for 57,000 shares.
14 July 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC President-Drilling Subsidiary James Michael Holcomb received a stock option grant for 57,000 shares.
9 June 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC President-Drilling Subsidiary James Michael Holcomb had 12,303 shares withheld for taxes on vesting stock.
9 June 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC SVP/General Counsel/Secretary Seth David Wexler had 15,144 shares withheld for taxes on vesting stock.
18 May 2017agm notice● Neutral
PATTERSON UTI ENERGY INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
4 May 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC President-Drilling Subsidiary James Michael Holcomb received 22,272 shares as part of the equity award.
4 May 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC Chairman of the Board Mark S Siegel received 269,214 shares as part of the equity award.
4 May 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC Chief Financial Officer John E Vollmer III received 122,160 shares as part of the equity award.
4 May 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC President & CEO William Andrew Hendricks Jr. received 294,758 shares as part of the equity award.
4 May 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC Senior Vice President Kenneth N Berns received 122,160 shares as part of the equity award.
4 May 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC SVP, General Counsel, Sec?y Seth David Wexler received 22,272 shares as part of the equity award.
2 May 2017quarterly activities report▼ Bad
PATTERSON UTI ENERGY INC reported quarterly revenue of $305.2 million and a net loss of $63.5 million for the period ended 2017-03-31.
27 Apr 2017quarterly activities report▼ Bad
PATTERSON UTI ENERGY INC reported quarterly revenue of $305.2 million and a net loss of $63.5 million for the period ended 2017-03-31.
27 Apr 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC President & CEO William Andrew Hendricks Jr. had 10,408 shares withheld for taxes on vesting stock.
21 Apr 2017agm notice● Neutral
PATTERSON UTI ENERGY INC shareholders approved the routine matters put to a vote at the company's annual meeting (director elections, auditor ratification, and the executive-pay advisory vote).
12 Apr 2017business combination▼ BadMajor
The company disclosed four shareholder or warrant-holder lawsuits tied to the SSE merger: Comeaux (W.D. Oklahoma, Feb 22, 2017; injunction motion withdrawn April 10), Sudarsan (S.D.N.Y., March 31; names Patterson-UTI and seeks to block cancellation of SSE warrants), and Gael and Scarantino (Delaware Chancery, April 7 and April 10). The company calls them without merit and says none is expected to affect the merger, which it expects to occur April 20, 2017; outcomes and costs cannot be predicted. The filing also references a joint press release (April 10) extending the deadline for SSE warrant holders to exercise.
22 Mar 2017business combination● Neutral
The company announced that its special shareholder meeting to vote on issuing shares to SSE holders for the merger will be held April 20, 2017 at 9:00 a.m. Central in Houston, with holders of record at Feb 22, 2017 entitled to vote. This supplies the meeting date that was missing from the Feb 22 record-date filing; the vote result is not yet known.
22 Mar 2017securities registration● Neutral
PATTERSON UTI ENERGY INC filed the final prospectus for a registered offering.
13 Mar 2017business combination● Neutral
The company filed Amendment No. 2 to the SSE merger registration statement (S-4), again a preliminary joint proxy statement/prospectus. The visible terms are the same as in Amendment No. 1 (up to 49,559,000 shares, about $1.42 billion at the Dec 12, 2016 price, up to about 25% for former SSE holders); the only difference seen in the text is a page reference moving from 148 to 149. Meeting dates remain blank and the merger is still pending.
8 Mar 2017director interest notice● Neutral
PATTERSON UTI ENERGY INC director Charles Oliver Buckner exercised stock options for 10,000 shares and disposed of 17,989 shares.
23 Feb 2017business combination● Neutral
The company filed Amendment No. 1 to its registration statement (S-4) for the Seventy Seven Energy (SSE) merger, a draft joint proxy statement/prospectus that is still preliminary and not yet effective. It restates the terms: up to 49,559,000 new Patterson-UTI shares for SSE holders (about $1.42 billion at the Dec 12, 2016 price), former SSE holders owning up to about 25% of the combined company, existing Patterson-UTI shares unchanged, and about 59% of SSE shares committed by voting agreements. The meeting date is still blank, so approval remains outstanding.