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|Patterson-UTI Announces New $200 Million Stock Repurchase Authorization and Completion of Prior Buyback Program|
Under the program, share purchases may be made from time to time in the open market or through privately negotiated transactions, and the timing and amount of repurchases will depend on market conditions, share price, trading volume and other factors. Any repurchases will be made in accordance with applicable insider trading and other securities laws and regulations. These repurchases may be commenced or suspended at any time or from time to time without prior notice.
Location information about the Company's drilling rigs and their individual inventories is available through the Company's website at www.patenergy.com.
Statements made in this press release which state the Company's or management's intentions, beliefs, expectations or predictions for the future are forward-looking statements. It is important to note that actual results could differ materially from those discussed in such forward-looking statements. Important factors that could cause actual results to differ materially include, but are not limited to, deterioration of global economic conditions, declines in customer spending and in oil and natural gas prices that could adversely affect demand for the Company's services, and their associated effect on rates, utilization, margins and planned capital expenditures, excess availability of land drilling rigs and pressure pumping equipment, including as a result of reactivation or construction, adverse industry conditions, adverse credit and equity market conditions, difficulty in integrating acquisitions, shortages of labor, equipment, supplies and materials, supplier issues, weather, loss of key customers, liabilities from operations, changes in technology and efficiencies, governmental regulation and ability to retain management and field personnel. 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 the Company's
Mike Drickamer, Director, Investor Relations, Patterson-UTI Energy, Inc., +1-281-765-7170