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                                FILED BY PATTERSON ENERGY, INC. PURSUANT TO RULE
                                425 UNDER SECURITIES ACT OF 1933

                                         SUBJECT COMPANY:

                                              UTI ENERGY, INC.  FILE NO. 1-12542


FOR IMMEDIATE RELEASE              Contacts:  Cloyce A. Talbott, Chairman & CEO
                                              Jonathan D. (Jody) Nelson, CFO
                                              Patterson Energy, Inc.
                                              (915) 573-1104

                                              Mark S. Siegel, Chairman
                                              John Vollmer, CFO
                                              UTI Energy Corp.
                                              (281) 873-4111

              PATTERSON ENERGY, INC. AND UTI ENERGY CORP. TO MERGE;

         COMBINATION WILL CREATE SECOND LARGEST U.S. LAND-BASED DRILLING
                   SERVICES CONTRACTOR WITH 302 DRILLING RIGS


SNYDER, Texas and HOUSTON, Texas -- Feb. 5, 2001 --PATTERSON ENERGY, INC.
(Nasdaq: PTEN), a Snyder, Texas based provider of domestic land-based drilling
services to major independent oil and natural gas companies, and UTI ENERGY
CORP. (AMEX: UTI), a Houston, Texas headquartered provider of contract drilling
and pressure pumping services, today announced that the boards of directors of
both companies have approved a merger of the two companies. The new company will
be called "Patterson-UTI Energy, Inc."

According to the terms of the merger, shareholders of UTI Energy will receive
one (1) share of Patterson Common Stock for each share of UTI Common Stock. As
of the close of the market on Friday, February 2, 2001, the companies had a
combined market valuation of $2.6 billion, based upon their respective share
prices.

Mark S. Siegel, who currently serves as Chairman of UTI will become Chairman of
Patterson-UTI, and Cloyce A. Talbott, the current Chairman and Chief Executive
Officer of Patterson, will be Chief Executive Officer. The merger is subject to
approval by the shareholders of both companies, as well as any necessary
regulatory approvals, including the anti-trust provisions of the
Hart-Scott-Rodino Act.

"We believe that the combined companies will be stronger than either company
operating alone," said Cloyce A. Talbott. "Patterson-UTI will have more than 300
land-based

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drilling rigs strategically located in some of the most prolific oil and gas
producing regions in North America. In addition, we expect the combined
companies to benefit from the considerable management skill and talent that both
companies have developed over the past several years," Talbott added.

Mark S. Siegel stated, "We believe that this merger represents a unique
opportunity for the shareholders, employees, and customers of both companies.
Both UTI and Patterson have built shareholder value through strategic
acquisitions, and we believe the merger will provide the combined companies with
a stronger platform for further growth."

A REGISTRATION STATEMENT RELATING TO THE PATTERSON ENERGY, INC. COMMON STOCK TO
BE ISSUED TO THE UTI STOCKHOLDERS AND THE PROXY STATEMENTS RELATING TO THE
MEETINGS OF THE SHAREHOLDERS OF PATTERSON AND UTI WILL BE FILED WITH THE
SECURITIES AND EXCHANGE COMMISSION AS SOON AS PRACTICABLE. WHEN FILED, COPIES OF
THESE DOCUMENTS MAY BE OBTAINED FREE OF CHARGE ON THE SEC WEBSITE (www.sec.gov).
THESE DOCUMENTS SHOULD BE CAREFULLY REVIEWED BECAUSE THEY WILL CONTAIN IMPORTANT
INFORMATION.

Patterson Energy, Inc., a Snyder, Texas based energy company, is one of the
leading providers of domestic land-based drilling services to major independent
oil and natural gas companies. Patterson currently owns 152 drilling rigs (138
of which are currently operable) with drilling operations in Texas, New Mexico,
Utah, Oklahoma and Louisiana.

UTI Energy Corp. is a leading provider of contract drilling and pressure pumping
services in North America. The Company's subsidiaries own 150 drilling rigs that
provide drilling services primarily in Texas, Oklahoma, New Mexico, and western
Canada. The Company's pressure pumping subsidiary provides stimulation and
cementing services in the Northeast United States.

Statements made in this news release which state the Companies' or the
managements' 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, declines in oil and natural gas prices that could
adversely affect demand for the Companies' services, and their associated effect
on day rates, rig utilization and planned capital expenditures, adverse industry
conditions, difficulty in integrating acquisitions, demand for oil and natural
gas 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 both
Companies' SEC filings, including but not limited to, the Companies' reports on
Form 10-K for the year ended December 31, 1999 and Forms 10-Q for fiscal 2000
reporting periods. Copies of these filings may be obtained by contacting each
Company or the SEC.