<SEC-DOCUMENT>0001193125-17-120281.txt : 20170412
<SEC-HEADER>0001193125-17-120281.hdr.sgml : 20170412
<ACCEPTANCE-DATETIME>20170411205803
ACCESSION NUMBER:		0001193125-17-120281
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170322
ITEM INFORMATION:		Regulation FD Disclosure
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170412
DATE AS OF CHANGE:		20170411

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PATTERSON UTI ENERGY INC
		CENTRAL INDEX KEY:			0000889900
		STANDARD INDUSTRIAL CLASSIFICATION:	DRILLING OIL & GAS WELLS [1381]
		IRS NUMBER:				752504748
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-22664
		FILM NUMBER:		17756904

	BUSINESS ADDRESS:	
		STREET 1:		4510 LAMESA HWY
		STREET 2:		P O DRAWER 1416
		CITY:			SNYDER
		STATE:			TX
		ZIP:			79549
		BUSINESS PHONE:		9155731104

	MAIL ADDRESS:	
		STREET 1:		P O DRAWER 1416
		CITY:			SNYDER
		STATE:			TX
		ZIP:			79550

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PATTERSON ENERGY INC
		DATE OF NAME CHANGE:	19940228
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>d287572d8k.htm
<DESCRIPTION>FORM 8-K
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<HTML><HEAD>
<TITLE>Form 8-K</TITLE>
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 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>FORM 8-K
</B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>CURRENT REPORT </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>PURSUANT
TO SECTION 13 OR 15(d) </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Date of Report (Date of earliest event reported): March&nbsp;22, 2017 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>PATTERSON-UTI ENERGY, INC. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Exact Name of Registrant as Specified in Its Charter) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:8pt" ALIGN="center">


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<TD VALIGN="top" ALIGN="center"><B>Delaware</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>0-22664</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>75-2504748</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(State or other jurisdiction <BR>of incorporation)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Commission</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>File Number)</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(IRS Employer <BR>Identification No.)</B></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>10713 West Sam Houston Pkwy N.,</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Suite 800</B></P> <P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Houston,
Texas</B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center"><B>77064</B></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:8pt">
<TD VALIGN="top" ALIGN="center"><B>(Address of principal executive offices)</B></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"><B>(Zip Code)</B></TD></TR>
</TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(281) 765-7100 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Registrant&#146;s telephone number, including area code) </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top">Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) </TD></TR></TABLE> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9744;</TD>
<TD ALIGN="left" VALIGN="top">Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) </TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>

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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;7.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Regulation FD Disclosure. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On April&nbsp;10, 2017, Patterson-UTI Energy, Inc.
(&#147;Patterson-UTI&#148;) and Seventy Seven Energy Inc. (&#147;SSE&#148;) jointly issued a press release announcing the extension of the deadline for holders of SSE warrants to exercise their warrants. A copy of the press release is filed as
Exhibit 99.1 hereto and is incorporated by reference herein. </P> <P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;8.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Other Events. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Litigation Related to the Proposed Merger between Patterson-UTI and SSE </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As previously disclosed, on December&nbsp;12, 2016, Patterson-UTI entered into an Agreement and Plan of Merger (the &#147;Merger
Agreement&#148;) with SSE, and Pyramid Merger Sub, Inc. (the &#147;Merger&#148;). Patterson-UTI is filing this Current Report on Form 8-K to provide certain updates in respect of the proposed Merger. The following information should be read in
conjunction with the joint proxy statement/prospectus (the &#147;Joint Proxy Statement/Prospectus&#148;) relating to the proposed Merger, filed with the SEC on March&nbsp;22, 2017. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">As disclosed on page 125 of the Joint Proxy Statement/Prospectus, on February&nbsp;22, 2017, Maria Comeaux, a purported stockholder of SSE
filed a putative class action challenging the disclosures made in connection with the Merger against SSE and the members of SSE&#146;s board of directors. This lawsuit is styled Maria Comeaux et al. v. Seventy Seven Energy Inc., et al, Case No.
CIV-5:17-191-M, in the United States District Court for the Western District of Oklahoma. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">The related complaint (the &#147;Comeaux
Complaint&#148;) alleges inadequacies in the merger price and the process leading up to it, and claims that the Joint Proxy Statement/Prospectus filed in connection with the merger fails to disclose certain allegedly material information in
violation of Sections 14(a) and 20(a) of the U.S. Securities Exchange Act of 1934, as amended (the &#147;Exchange Act&#148;), and certain rules promulgated thereunder. The alleged omissions generally relate to (i)&nbsp;certain financial projections;
(ii)&nbsp;certain valuation analyses performed by SSE&#146;s financial advisor, Morgan Stanley; and (iii)&nbsp;alleged conflicts of interest faced by Morgan Stanley and a director of SSE. Based on these allegations, Comeaux sought to enjoin the
forthcoming stockholder vote on the Merger unless and until SSE discloses the allegedly omitted material information summarized above. Comeaux also seeks damages and attorneys&#146; fees. On April&nbsp;10, 2017, plaintiff Comeaux withdrew her motion
for a preliminary injunction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On March&nbsp;31, 2017, Garud Sudarsan, a purported holder of Series B and Series C Warrants of SSE, filed
a putative class action against SSE, Patterson-UTI and Merger Sub. This lawsuit is styled Garud Sudarsan et al v. Seventy Seven Energy Inc., et al, Case No.&nbsp;1:17-cv-02342, in the United States District Court for the Southern District of New
York. The related complaint (the &#147;Sudarsan Complaint&#148;) alleges (i)&nbsp;that SSE breached the Warrant Agreement (the &#147;Warrant Agreement&#148;), dated as of August&nbsp;1, 2016, among SSE, Computershare Inc. and Computershare Trust
Company N.A. (collectively as warrant agent) relating to Series A, Series B and Series C Warrants of SSE and (ii)&nbsp;tortious interference with the Warrant Agreement by Patterson-UTI and Merger Sub. Based on these allegations, Sudarsan seeks to
enjoin the cancelation of the Series A, Series B and Series C Warrants of SSE in connection with the proposed Merger. Sudarsan also seeks damages and attorneys&#146; fees. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On April&nbsp;7, 2017, Mainard Gael, a purported stockholder of SSE, filed a putative class action challenging the disclosures made in
connection with the merger against SSE and the members of SSE&#146;s board of directors. This lawsuit is styled Mainard Gael et al v. Seventy Seven Energy, Inc. et al, Case No.&nbsp;2017-0266, in the Court of Chancery of the State of Delaware. The
related complaint (the &#147;Gael Complaint&#148;) alleges that SSE&#146;s board of directors breached its fiduciary duties by failing to disclose in the Joint Proxy Statement/Prospectus filed in connection with the merger certain allegedly material
information. The alleged omissions generally relate to (i)&nbsp;certain financial projections; (ii)&nbsp;the fact that Douglas Wall, a member of the SSE board of directors, previously served as President and CEO of Patterson-UTI as recently as 2012;
(iii)&nbsp;the fact that Andrew Axelrod and Victor Danh, members of the SSE board of directors, are managing partners of certain of the SSE stockholders (the &#147;Significant SSE Stockholders&#148;) whose affiliates entered into voting and support
agreements with Patterson-UTI in connection with the proposed Merger; (iv)&nbsp;the identities of holders of Series A Warrants of SSE, which information the Gael Complaint alleges is necessary in order to determine whether the Significant SSE
Stockholders held significant Series A Warrants of SSE, notwithstanding the fact that had the Significant SSE Stockholders held Series </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">2 </P>


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A Warrants, such ownership would have been required to be disclosed in the Joint Proxy Statement/Prospectus; and (v)&nbsp;alleged conflicts of interest faced by Morgan Stanley. Based on these
allegations, Gael seeks to enjoin the consummation of the Merger, and if the proposed Merger is consummated, Gael seeks damages. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On
April&nbsp;10, 2017, Louis Scarantino, a purported stockholder of SSE, filed a putative class action challenging the disclosures made in connection with the merger against SSE, the members of SSE&#146;s board of directors, Patterson-UTI and Merger
Sub. This lawsuit is styled Louis Scarantino et al v. Seventy Seven Energy Inc. et al, Case No.&nbsp;2017-0278, in the Court of Chancery in the State of Delaware. The complaint (the &#147;Scarantino Complaint&#148;) contains allegations and seeks
remedies that are similar to those contained in the Gael Complaint. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Patterson-UTI and SSE believe that each of these lawsuits is without
merit, that the alleged omissions in the Comeaux, Sudarsan and Scarantino Complaints are not material and intend to vigorously defend against each of them. Neither Patterson-UTI nor SSE can predict the outcome of these lawsuits or any others that
might be filed, nor can they predict the amount of time and expense that will be required to defend the lawsuits. None of the foregoing lawsuits are expected to affect the consummation of the Merger, which is currently expected to occur on
April&nbsp;20, 2017. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Important Information for Investors and Stockholders </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Current Report on Form 8-K (&#147;Form 8-K&#148;) does not constitute an offer to sell or the solicitation of an offer to buy any
securities or a solicitation of any vote or approval. The acquisition by Patterson-UTI of SSE in an all-stock transaction (the &#147;proposed transaction&#148;) will be submitted to the stockholders of each of Patterson-UTI and SSE for their
consideration. Patterson-UTI and SSE have mailed a joint proxy statement/prospectus to their respective stockholders. SSE and Patterson-UTI may also file other documents with the Securities and Exchange Commission (the &#147;SEC&#148;) regarding the
proposed transaction. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS
THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Investors and security holders may obtain free copies of the proxy statement/prospectus and other documents containing important information
about SSE and Patterson-UTI through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by Patterson-UTI are free of charge on Patterson-UTI&#146;s website at www.patenergy.com under the tab
&#147;Investors&#148; and then through the link titled &#147;SEC Filings&#148; or by contacting Patterson-UTI&#146;s Investor Relations Department by email at investrelations@patenergy.com, or by phone at (281)&nbsp;765-7100. Copies of the documents
filed with the SEC by SSE are free of charge on SSE&#146;s website at www.77nrg.com under the tab &#147;Investors&#148; and then through the link titled &#147;SEC Filings&#148; or by contacting SSE&#146;s Investor Relations Department at
IR@77nrg.com, or by phone at (405)&nbsp;608-7730. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Participants in the Solicitation </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Patterson-UTI, SSE and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of
proxies from the stockholders of Patterson-UTI in connection with the proposed transaction. Information about the directors and executive officers of Patterson-UTI is set forth in the 2016 Annual Report on Form 10-K/A for Patterson-UTI, which was
filed with the SEC on March&nbsp;13, 2017. Information about the directors and executive officers of SSE is set forth in the 2015 Annual Report on Form 10-K/A for SSE, which was filed with the SEC on April&nbsp;29, 2016 and the Current Report on
Form 8-K for SSE, which was filed with the SEC on August&nbsp;1, 2016. These documents can be obtained free of charge from the sources indicated above. Other information regarding the participants in the proxy solicitation and a description of their
direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the SEC when they become available. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">3 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Cautionary Statement Regarding Forward-Looking Statements </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">This Form 8-K contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation
Reform Act of 1995 that are not limited to historical facts, but reflect Patterson-UTI&#146;s current beliefs, expectations or intentions regarding future events. Words such as &#147;anticipate,&#148; &#147;believe,&#148; &#147;budgeted,&#148;
&#147;continue,&#148; &#147;could,&#148; &#147;estimate,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;may,&#148; &#147;plan,&#148; &#147;predict,&#148; &#147;potential,&#148; &#147;project,&#148; &#147;pursue,&#148; &#147;should,&#148;
&#147;strategy,&#148; &#147;target,&#148; or &#147;will,&#148; and similar expressions are intended to identify such forward-looking statements. The statements in this Form 8-K that are not historical statements, including statements regarding the
expected timetable for completing the proposed transaction, benefits and synergies of the proposed transaction, costs and other anticipated financial impacts of the proposed transaction; the combined company&#146;s plans, objectives, future
opportunities for the combined company and services, future financial performance and operating results and any other statements regarding Patterson-UTI&#146;s and SSE&#146;s future expectations, beliefs, plans, objectives, financial conditions,
assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond
Patterson-UTI&#146;s or SSE&#146;s control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: failure to obtain the required
votes of Patterson-UTI&#146;s or SSE&#146;s stockholders; the timing to consummate the proposed transaction; satisfaction of the conditions to closing of the proposed transaction may not be satisfied or that the closing of the proposed transaction
otherwise does not occur; the risk that a regulatory approval that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated; the diversion of management time on transaction-related
issues; the ultimate timing, outcome and results of integrating the operations of Patterson-UTI and SSE following the consummation of the proposed transaction; the effects of the business combination of Patterson-UTI and SSE following the
consummation of the proposed transaction, including the combined company&#146;s future financial condition, results of operations, strategy and plans; potential adverse reactions or changes to business relationships resulting from the announcement
or completion of the proposed transaction; expected synergies and other benefits from the proposed transaction and the ability of Patterson-UTI to realize such synergies and other benefits; expectations regarding regulatory approval of the
transaction; results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending and in oil and natural gas prices, which could adversely affect demand for
Patterson-UTI&#146;s services and their associated effect on rates, utilization, margins and planned capital expenditures; global economic conditions; excess availability of land drilling rigs and pressure pumping equipment, including as a result of
low commodity prices, reactivation or construction; liabilities from operations; weather; decline in, and ability to realize, backlog; equipment specialization and new technologies; shortages, delays in delivery and interruptions of supply of
equipment and materials; ability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and in integrating acquisitions; governmental regulation; product liability; legal proceedings; political,
economic and social instability risk; ability to effectively identify and enter new markets; cybersecurity risk; dependence on our subsidiaries to meet our long-term debt obligations; variable rate indebtedness risk; and anti-takeover measures in
our charter documents. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Additional information concerning factors that could cause actual results to differ materially from those in the
forward-looking statements is contained from time to time in Patterson-UTI&#146;s and SSE&#146;s SEC filings. Patterson-UTI&#146;s filings may be obtained by contacting Patterson-UTI or the SEC or through Patterson-UTI&#146;s web site at
http://www.patenergy.com or through the SEC&#146;s Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov. SSE&#146;s filings may be obtained by contacting SSE or the SEC or through SSE&#146;s web site at www.77nrg.com or through
EDGAR. Patterson-UTI and SSE undertake no obligation to publicly update or revise any forward-looking statement. </P>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">4 </P>


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<TD WIDTH="10%" VALIGN="top" ALIGN="left"><B>Item&nbsp;9.01.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Financial Statements and Exhibits. </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:4%; font-size:10pt; font-family:Times New Roman"><B>(d) <U>Exhibits </U> </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Joint press release dated April&nbsp;10, 2017.</TD></TR>
</TABLE>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">5 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>SIGNATURES </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Date: April&nbsp;11, 2017 </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><DIV ALIGN="right">
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<TD VALIGN="top" COLSPAN="3"><B>PATTERSON-UTI ENERGY, INC.</B></TD></TR>
<TR STYLE="font-size:1pt">
<TD HEIGHT="16"></TD>
<TD HEIGHT="16" COLSPAN="2"></TD></TR>
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<TD VALIGN="top">By:</TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"> <P STYLE="margin-top:0pt; margin-bottom:1pt; border-bottom:1px solid #000000; font-size:10pt; font-family:Times New Roman">/s/ John E. Vollmer III</P></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">Name: &nbsp;&nbsp;John E. Vollmer III</TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top"><FONT STYLE="white-space:nowrap">Title:&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Senior&nbsp;Vice&nbsp;President&nbsp;-&nbsp;Corporate&nbsp;Development,</FONT></TD></TR>
<TR STYLE="page-break-inside:avoid ; font-family:Times New Roman; font-size:10pt">
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top">CFO and Treasurer</TD></TR>
</TABLE></DIV>
 <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center">6 </P>


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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>EXHIBIT INDEX </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD VALIGN="bottom" NOWRAP> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:28.45pt; font-size:8pt; font-family:Times New Roman"><B>Exhibit<BR>Number</B></P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; border-bottom:1.00pt solid #000000; width:39.50pt; font-size:8pt; font-family:Times New Roman"><B>Description</B></P></TD></TR>


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<TD HEIGHT="8" COLSPAN="2"></TD></TR>
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<TD VALIGN="top" NOWRAP>99.1</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Joint press release dated April 10, 2017.</TD></TR>
</TABLE>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Seventy Seven Energy Inc. Extends Deadline for Warrant Exercises </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">April&nbsp;10, 2017 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">OKLAHOMA CITY and HOUSTON &#150; SEVENTY
SEVEN ENERGY INC. (&#147;SSE&#148;) and PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) (&#147;Patterson-UTI&#148;) announced today that SSE was extending the deadline for holders of its outstanding warrants to exercise those warrants in advance of the
consummation of the merger contemplated by the previously announced Agreement and Plan of Merger (the &#147;Merger Agreement&#148;) dated as of December&nbsp;12, 2016, by and among SSE, Patterson-UTI, and Pyramid Merger Sub, Inc. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the terms of Warrant Agreement, dated as of August&nbsp;1, 2016 (the &#147;Warrant Agreement&#148;), among SSE, Computershare Inc., a Delaware
corporation, and its wholly owned subsidiary, Computershare Trust Company, N.A., a federally chartered trust company, the holders of warrants had until ten business days prior to the consummation of the merger to exercise their respective warrants
in accordance with the Warrant Agreement, with any warrants not exercised by that date being terminated. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Given the meaningful number of in-the-money
Series A warrants that have not been exercised, SSE and Patterson-UTI have determined that it is appropriate for SSE to extend the final deadline for warrant holders to exercise their warrants to April&nbsp;14, 2017 at 5 pm Eastern time. All other
provisions of the Warrant Agreement remain unmodified and in full force and effect. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">SSE and Patterson-UTI do not believe that the extension of this
deadline will impact the consummation of the merger, which is expected to occur on April&nbsp;20, 2017. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About Seventy Seven Energy Inc. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Headquartered in Oklahoma City, SSE provides a wide range of wellsite services and equipment to U.S. land-based exploration and production customers.
SSE&#146;s services include drilling, hydraulic fracturing and oilfield rentals and its operations are geographically diversified across many of the most active oil and natural gas plays in the onshore U.S., including the Anadarko and Permian basins
and the Eagle Ford, Haynesville, Marcellus, Niobrara and Utica shales. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About&nbsp;Patterson-UTI </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Patterson-UTI is an oilfield services company that primarily owns and operates in the United States one of the largest fleets of land-based drilling rigs and a
large fleet of pressure pumping equipment. Our contract drilling business operates in the continental United States and western Canada, and our pressure pumping business operates primarily in Texas and the Appalachian region. We also provide
drilling rig pipe handling technology to drilling contractors in North America and other select markets. In addition, we own and invest as a non-operating working interest owner in oil and natural gas assets that are primarily located in Texas and
New Mexico. Location information about the Company&#146;s drilling rigs and their individual inventories is available through the Company&#146;s website at www.patenergy.com </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Important Information for Investors and Stockholders </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote or approval. The
acquisition by&nbsp;Patterson-UTI&nbsp;of SSE in an&nbsp;all-stock&nbsp;transaction (the &#147;proposed transaction&#148;) will be submitted to the stockholders of each of&nbsp;Patterson-UTI and SSE for their consideration.&nbsp;SSE and
Patterson-UTI have jointly prepared and mailed to their respective stockholders a prospectus and proxy statement with respect to the proposed transaction. SSE and&nbsp;Patterson-UTI&nbsp;may also file other documents with the Securities and Exchange
Commission (the &#147;SEC&#148;) regarding the proposed transaction. </P>

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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT/PROSPECTUS AND ANY OTHER RELEVANT DOCUMENTS
THAT WILL BE FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investors and security holders may obtain free copies of the proxy statement/prospectus and other documents containing important information about SSE
and&nbsp;Patterson-UTI&nbsp;once such documents are filed with the SEC through the website maintained by the SEC at www.sec.gov. Copies of the documents filed with the SEC by&nbsp;Patterson-UTI&nbsp;will be available free of charge
on&nbsp;Patterson-UTI&#146;s&nbsp;website at www.patenergy.com under the tab &#147;Investors&#148; and then through the link titled &#147;SEC Filings&#148; or by contacting&nbsp;Patterson-UTI&#146;s&nbsp;Investor Relations Department by email at
investrelations@patenergy.com, or by phone at (281)&nbsp;765-7100.&nbsp;Copies of the documents filed with the SEC by SSE will be available free of charge on SSE&#146;s website at www.77nrg.com under the tab &#147;Investors&#148; and then through
the link titled &#147;SEC Filings&#148; or by contacting SSE&#146;s Investor Relations Department at IR@77nrg.com, or by phone at (405)&nbsp;608-7730. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Participants in the Solicitation </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Patterson-UTI,&nbsp;SSE and certain of their respective directors and executive officers may be deemed to be participants in the solicitation of proxies from
the stockholders of&nbsp;Patterson-UTI&nbsp;in connection with the proposed transaction. Information about the directors and executive officers of&nbsp;Patterson-UTI&nbsp;is set forth in the 2016 Annual Report on
Form&nbsp;10-K/A&nbsp;for&nbsp;Patterson-UTI,&nbsp;which was filed with the SEC on March&nbsp;13, 2017. Information about the directors and executive officers of SSE is set forth in the 2015 Annual Report on Form&nbsp;10-K/A&nbsp;for SSE, which was
filed with the SEC on April&nbsp;29, 2016 and the Current Report on Form&nbsp;8-K&nbsp;for SSE, which was filed with the SEC on August&nbsp;1, 2016. These documents can be obtained free of charge from the sources indicated above. Other information
regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the proxy statement/prospectus and other relevant materials to be filed with the
SEC when they become available. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B><I>Cautionary Statement Regarding Forward-Looking Statements </I></B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This press release contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of
1995 that are not limited to historical facts, but reflect&nbsp;Patterson-UTI&#146;s&nbsp;current beliefs, expectations or intentions regarding future events. Words such as &#147;anticipate,&#148; &#147;believe,&#148; &#147;budgeted,&#148;
&#147;continue,&#148; &#147;could,&#148; &#147;estimate,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;may,&#148; &#147;plan,&#148; &#147;predict,&#148; &#147;potential,&#148; &#147;project,&#148; &#147;pursue,&#148; &#147;should,&#148;
&#147;strategy,&#148; &#147;target,&#148; or &#147;will,&#148; and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding
the expected timetable for completing the proposed transaction, benefits and synergies of the proposed transaction, costs and other anticipated financial impacts of the proposed transaction; the combined company&#146;s plans, objectives, future
opportunities for the combined company and services, future financial performance and operating results and any other statements regarding&nbsp;Patterson-UTI&#146;s&nbsp;and SSE&#146;s future expectations, beliefs, plans, objectives, financial
conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which
are beyond&nbsp;Patterson-UTI&#146;s&nbsp;or SSE&#146;s control, </P>

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which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: failure to obtain the
required votes of&nbsp;Patterson-UTI&#146;s&nbsp;or SSE&#146;s stockholders; the timing to consummate the proposed transaction; satisfaction of the conditions to closing of the proposed transaction may not be satisfied or that the closing of the
proposed transaction otherwise does not occur; the risk that a regulatory approval that may be required for the proposed transaction is not obtained or is obtained subject to conditions that are not anticipated; the diversion of management time on
transaction-related issues; the ultimate timing, outcome and results of integrating the operations of&nbsp;Patterson-UTI&nbsp;and SSE following the consummation of the proposed transaction; the effects of the business combination
of&nbsp;Patterson-UTI&nbsp;and SSE following the consummation of the proposed transaction, including the combined company&#146;s future financial condition, results of operations, strategy and plans; potential adverse reactions or changes to
business relationships resulting from the announcement or completion of the proposed transaction; expected synergies and other benefits from the proposed transaction and the ability of&nbsp;Patterson-UTI&nbsp;to realize such synergies and other
benefits; expectations regarding regulatory approval of the transaction; results of litigation, settlements and investigations; actions by third parties, including governmental agencies; volatility in customer spending and in oil and natural gas
prices, which could adversely affect demand for&nbsp;Patterson-UTI&#146;s&nbsp;services and their associated effect on rates, utilization, margins and planned capital expenditures; global economic conditions; excess availability of land drilling
rigs and pressure pumping equipment, including as a result of low commodity prices, reactivation or construction; liabilities from operations; weather; decline in, and ability to realize, backlog; equipment specialization and new technologies;
shortages, delays in delivery and interruptions of supply of equipment and materials; ability to hire and retain personnel; loss of, or reduction in business with, key customers; difficulty with growth and in integrating acquisitions; governmental
regulation; product liability; legal proceedings; political, economic and social instability risk; ability to effectively identify and enter new markets; cybersecurity risk; dependence on our subsidiaries to meet our long-term debt obligations;
variable rate indebtedness risk; and anti-takeover measures in our charter documents. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time
to time in&nbsp;Patterson-UTI&#146;s&nbsp;and SSE&#146;s SEC filings.&nbsp;Patterson-UTI&#146;s&nbsp;filings may be obtained by contacting&nbsp;Patterson-UTI&nbsp;or the SEC or through&nbsp;Patterson-UTI&#146;s&nbsp;web site at
http://www.patenergy.com or through the SEC&#146;s Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov. SSE&#146;s filings may be obtained by contacting SSE or the SEC or through SSE&#146;s web site at www.77nrg.com or through
EDGAR.&nbsp;Patterson-UTI&nbsp;and SSE undertake no obligation to publicly update or revise any forward-looking statement. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contact: </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Seventy Seven Energy Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Bob Jarvis,&nbsp;405-608-7777 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Investor Relations </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IR@77nrg.com </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Patterson-UTI Energy, Inc. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Mike Drickamer </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Vice President, Investor Relations </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">(281) 765-7170 </P>
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