8-K

 

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): February 28, 2007

Patterson-UTI Energy, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	0-22664	75-2504748
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
4510 Lamesa Hwy., Snyder, Texas		79549
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

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

Not Applicable
______________________________________________
Former name or former address, if changed since last report

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:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On February 28, 2007, the Company issued a press release, furnished herewith as Exhibit 99.1, announcing the appointment of Charles O. Buckner to the Company's Board of Directors. Mr. Buckner will also serve on the Audit Committee of the Board. The addition of Mr. Buckner expands the Company's Board of Directors to nine members.

As a director of the Company, Mr. Buckner is eligible to participate in the Patterson-UTI Energy, Inc. 2005 Long-Term Inecentive Plan, which is listed as Exhibit 10.9 to the Company's Annual Report on Form 10-K for the year ended December 31, 2006. In connection with Mr. Buckner's appointment as director, he was awarded 3,000 restricted shares of the Company's common stock and options to purchase 10,000 shares of the Company's common stock, all of which vests on February 28, 2008.

Item 9.01 Financial Statements and Exhibits.

(d) The following exhibit is furnished herewith:

99.1 Press Release dated February 28, 2007, relating to the appointment of Charles O. Buckner to the Patterson-UTI Energy, Inc. Board of Directors.

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.
March 1, 2007	By:	/s/ John E. Vollmer III
		Name: John E. Vollmer III
		Title: Chief Financial Officer

Exhibit Index

Exhibit No.	Description
99.1	Press Release dated February 28, 2007, related to the appointment of a new member of the Patterson-UTI Energy, Inc. Board of Directors.

EX-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 Appointment of
New Board Member

SNYDER, Texas – February 28, 2007 – PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today announced that Charles O. Buckner, 62, has been appointed to the Company’s Board of Directors and will serve on the Audit Committee. With Mr. Buckner’s appointment, the Patterson-UTI Board has been expanded to nine members.

Mr. Buckner retired from Ernst & Young LLP in 2002 after 35 years of service in a variety of client service and administrative roles, including chairmanship of Ernst & Young’s United States energy practice. He also serves as a director of Horizon Offshore, Incorporated and Whittier Energy Corporation.

“We are very pleased to welcome Chuck to our board,” stated Mark Siegel, Patterson-UTI’s Chairman. “We look forward to benefiting from his extensive experience and expertise in the energy sector.”

The Company further announced the appointment of William L. Moll, Jr., as General Counsel and Secretary. Mr. Moll joins Patterson-UTI from Stewart & Stevenson LLC, a supplier of equipment used in oilfield services, where he served most recently as Vice President and Counsel.

About Patterson-UTI

Patterson-UTI Energy, Inc provides onshore contract drilling services to exploration and production companies in North America. The Company has approximately 340 currently marketable 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.

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, declines in oil and natural gas prices that could adversely affect demand for the Company’s services, and their associated effect on day rates, rig utilization and planned capital expenditures, excess availability of land drilling rigs, adverse industry conditions, difficulty in integrating acquisitions, demand for oil and natural gas, shortages of rig equipment 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 SEC filings, which may be obtained by contacting the Company or the SEC. These filings are also available through the Company’s web site at http://www.patenergy.com or through the SEC’s Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statement.