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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) July 30, 1996
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PATTERSON ENERGY, INC.
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(Exact name of registrant as specified in its charter)
Delaware 0-22664 75-2504748
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
4510 Lamesa Highway, Snyder, Texas 79549
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (915) 573-1104
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No Change
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(Former name or former address, if changed since last report.)
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ITEM 2. ACQUISITION OR DEPOSITION OF ASSETS
Item 5 of this Form 8-K and the Registrant's Prospectus/Joint Proxy
Statement dated June 20, 1996, are incorporated by reference in this Item. 2.
ITEM 5. OTHER EVENTS
On July 31, 1996, the Registrant issued the following press release:
PATTERSON ENERGY AND TUCKER DRILLING COMPANY ANNOUNCE
COMPLETION OF MERGER
SNYDER TEXAS, July 31, 1996--PATTERSON ENERGY, INC. NASDAQ/NM:PTEN) AND TUCKER
DRILLING COMPANY, INC. (NASDAQ/NM:TUCK) today announced that the merger of the
two companies was consummated on July 30, 1996 following the approval of the
stockholders of both companies at separate special meetings held on that date.
As a result of the merger, Tucker Drilling Company, Inc. became a wholly-owned
subsidiary of Patterson Energy, Inc. The companies announced the execution of
a definitive merger agreement on April 23, 1996.
Stockholders of Tucker Drilling will receive a 0.74 of a share of Patterson
Energy for each share held in Tucker, for a total of 1,577,514 shares of
Patterson common. The shares issued in the merger represent 32.8% of
Patterson's outstanding shares following the merger. The total value of the
transaction was approximately $26.4 million, based on Patterson's closing stock
price on July 30, 1996.
Patterson Energy, Inc. is a Snyder, Texas based energy company engaged in
contract drilling and the exploration, development and production of oil and
natural gas. As a result of the merger with Tucker Drilling Company, Inc.,
Patterson owns 40 fully equipped land-based drilling rigs in West and South
Texas and owns oil and gas properties in the same areas.
For further information, contact:
Patterson Energy, Inc.
Cloyce A. Talbott, Chairman and Chief Executive Officer
James C. Brown, Vice President Finance and Chief Financial Officer
915/573/1104
Shimmerlik Corporate Communications, Inc.
Warren M. Shimmerlik
212-247-5200
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
a. Financial Statements of Business Acquired.
The required financial statements of Tucker Drilling Company, Inc.,
the business acquired, are incorporated by reference from the Registrant's
Prospectus/Joint Proxy Statement dated June 20, 1996.
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b. Pro Forma Financial Information
The required pro forma information is incorporated by reference from
the Registrant's Prospectus/Joint Proxy Statement dated June 20, 1996.
SIGNATURE
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 thereunto duly authorized.
PATTERSON ENERGY, INC.
Date: August 2, 1996 /s/ James C. Brown
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James C. Brown
Vice President-Finance
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