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0000950134-06-021041.txt : 20061109 0000950134-06-021041.hdr.sgml : 20061109 20061109093521 ACCESSION NUMBER: 0000950134-06-021041 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20061108 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20061109 DATE AS OF CHANGE: 20061109 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: 061199724 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 8-K 1 d41156e8vk.htm FORM 8-K e8vk

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): November 8, 2006

PATTERSON-UTI ENERGY, INC.

(Exact name of registrant as specified in charter)


Delaware	0-22664	75-2504748
(State or Other Jurisdiction of	(Commission File Number)	(I.R.S. Employer Identification No.)
Incorporation)


4510 Lamesa Highway
Snyder, Texas		79549
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code: (325) 574-6300

(Former name or former address, if changed since last report): Not Applicable

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:

o		Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o		Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o		Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o		Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On November 8, 2006, the parties to all three of the stockholder derivative lawsuits commenced against Patterson-UTI Energy, Inc. (the “Company”) and certain of its officers and directors reached an agreement to settle the lawsuits. The lawsuits were filed in response to the Company’s announcement on November 10, 2005 that Jonathan D. Nelson, the former Chief Financial Officer of the Company, had embezzled a large sum of money from the Company. The settlement agreement, which contemplates the implementation of certain corporate governance measures, is subject to court approval after notice to the stockholders of the Company and an opportunity for them to be heard by the Court.

Item 9.01. Financial Statements and Exhibits.

(d) The following exhibit is furnished herewith:


99.1		Press Release dated November 9, 2006 relating to the agreement to settle derivative litigation.

SIGNATURES

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.


	Patterson-UTI Energy, Inc.
Dated: November 9, 2006	By:	/s/ John E. Vollmer III
		John E. Vollmer III
		Chief Financial Officer

EXHIBIT INDEX


Exhibit		Description
99.1		Press Release dated November 9, 2006 relating to the agreement to settle derivative litigation.

EX-99.1 2 d41156exv99w1.htm PRESS RELEASE exv99w1

Exhibit 99.1


For Immediate Release	Contact:	John E. Vollmer III
		SVP & Chief Financial Officer
		Patterson-UTI Energy, Inc.
		(214) 360-7800

Patterson-UTI Energy Announces Agreement to
Settle Derivative Litigation

SNYDER, Texas — November 9, 2006 — PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today announced that the parties to all three of the stockholder derivative lawsuits commenced against the Company and certain of its officers and directors have reached an agreement to settle the lawsuits. The lawsuits were filed in response to the Company’s announcement on November 10, 2005 that Jonathan D. Nelson, the former Chief Financial Officer of the Company, had embezzled a large sum of money from the Company.

The settlement agreement, which contemplates the implementation of certain corporate governance measures, is subject to court approval after notice to the stockholders of the Company and an opportunity for them to be heard by the Court.

About Patterson-UTI

Patterson-UTI Energy, Inc. provides onshore contract drilling services to exploration and production companies in North America. The Company owns 403 land-based drilling rigs that operate primarily in the oil and natural gas producing regions of Texas, New Mexico, Oklahoma, Arkansas, Louisiana, Mississippi, Colorado, Utah, Wyoming, Montana, North Dakota, South Dakota and western Canada. Patterson-UTI Energy, Inc. is also engaged in the businesses of pressure pumping services and drilling and completion fluid services. Additionally, the Company has an exploration and production business.