Financing Seventy Seven Energy Debt

5 ● Consideration Patterson-UTI will issue approximately 49.6 million shares of common stock subject to downward adjustment - Transaction Terms - Patterson-UTI to repay all of Seventy Seven Energy's outstanding debt at closing Patterson-UTI/Seventy Seven Energy pro forma ownership of approximately 75%/25% based on current share count • Expected Closing ● Late first quarter 2017 PATTERSON-UT!

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