Monitor upcoming quarterly earnings for revenue and cash flow trends in the oil & gas drilling sector. The credit facility extension removes near-term refinancing risk but provides no catalyst for equity appreciation.
Price Chart
Executive Summary
Patterson-UTI Energy amended its existing $500M revolving credit facility, extending the maturity on $450M of commitments from January 2030 to January 2031 and assigning $25M of HSBC's commitment to JPMorgan Chase. The facility size remains unchanged at $500M, and the company retains two one-year extension options. This is a routine refinancing that improves debt maturity profile without increasing leverage.
Key Financial Metrics
Key Facts
- Total revolving credit facility remains $500,000,000
- $450,000,000 of commitments extended to January 31, 2031 (from January 31, 2030)
- $25,000,000 commitment assigned from HSBC Bank USA to JPMorgan Chase Bank
- HSBC retains a $50,000,000 commitment maturing January 31, 2030
- Borrower retains right to request two additional one-year extensions
- No new borrowings, no change in total facility size, no change in interest rate terms disclosed
Financial Impact
No new debt raised; $450M of commitments extended by one year. No financial impact from the amendment itself.
Risk Factors
- HSBC's $50M commitment still matures January 2030, requiring future extension or repayment
- Oil & gas drilling downturn could pressure covenant compliance despite extended maturity
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000889900-26-000030 |
| Document: pten-20260424.htm | 0000889900-26-000030 |
| Document: 0000889900-26-000030-index-headers.html | 0000889900-26-000030 |
| Document: 0000889900-26-000030-index.html | 0000889900-26-000030 |
| Document: 0000889900-26-000030.txt | 0000889900-26-000030 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 29d ago | Insider Cluster | $12.42 $12.42 | · 0.00% | ▼ −1.21% | $11.21 (+9.74%) |
Aug 26, 2026 5w ago | Institutional Cluster | $11.75 $13.15 | ▲ +11.91% | ▲ +12.04% | $11.21 (−4.60%) |
Jun 11, 2026 16w ago | Institutional Cluster | $11.49 $10.30 | ▲ +10.36% | ▲ +10.79% | $11.21 (+2.44%) |
Jun 10, 2026 16w ago | Insider Cluster | $11.49 $10.30 | ▼ −10.36% | ▼ −10.79% | $11.21 (−2.44%) |
Jun 4, 2026 17w ago | 8-K | $11.51 $11.49 | ▼ −0.17% | ▼ −0.74% | $11.21 (−2.61%) |
May 26, 2026 18w ago | 8-K | $12.12 $11.74 | ▼ −3.14% | ▼ −4.35% | $11.21 (−7.49%) |
May 7, 2026 21w ago | 424B5 | $11.41 $12.00 | ▲ +5.19% | ▲ +3.68% | $11.21 (−1.74%) |
May 1, 2026 22w ago | Insider Cluster | $11.97 $11.41 | ▼ −4.67% | ▼ −7.02% | $11.21 (−6.34%) |
May 1, 2026 22w ago | Insider Cluster | $11.97 $11.41 | ▲ +4.67% | ▲ +7.02% | $11.21 (+6.34%) |
Apr 28, 2026 22w ago | 8-K | $11.83 $12.39 | ▲ +4.73% | ▲ +3.03% | $11.21 (−5.23%) |
US Market Status
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