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Latham Advises on Patterson-UTI Energy’s US$400 Million Offering of Senior Notes

September 11, 2023
Firm represents the underwriters in the offering.

Patterson-UTI Energy, Inc. (NASDAQ: PTEN) (the Company) announced that it has priced a registered underwritten public offering of US$400 million aggregate principal amount of 7.15% Senior Notes due 2033. The Company intends to use the net proceeds from the offering to repay outstanding borrowings under its revolving credit facility and for general corporate purposes.

Latham & Watkins LLP represents the underwriters in the transaction with a corporate deal team led by Houston partners Ryan Lynch and Ryan Maierson, with associates Clayton Heery, Sydney Verner and Molly Elkins. Advice was also provided on tax matters by Houston partner Jim Cole, with associate Christine Mainguy; and on environmental matters by Houston/Los Angeles partner Josh Marnitz, with associate Cody Kermanian.