Patterson-UTI Energy to repay credit agreement debt with new issue

By Sarah Lizee

Olympia, Wash., Jan. 5 – Patterson-UTI Energy, Inc. plans to repay debt under its credit agreement using proceeds from a private sale of senior notes, according to a press release.

Proceeds will also be used 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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