Patterson-UTI Energy Inc.
Description
Entered into a $600 million, five-year credit agreement with a group of financial institutions led by Wells Fargo Bank NA. The credit agreement amends and restates the company's 2012 credit agreement. The credit agreement is a committed senior unsecured revolving credit facility that permits aggregate borrowings of up to $600 million. The company may request that the lenders' aggregate commitments be increased by up to $300 million, not to exceed total commitments of $900 million.