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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 3, 2000
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PATTERSON 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 HIGHWAY, SNYDER, TEXAS 79549
(Address of principal executive offices) (Zip Code)
(915) 573-1104
(Registrant's telephone number, including area code)
No Change
(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS.
On February 3, 2000, the Registrant issued the following press release:
PATTERSON ENERGY, INC.
REPURCHASES 300,000 SHARES
Snyder, Texas, February 3, 2000---Patterson Energy, Inc. (NASDAQ:PTEN) announces
that on February 1, 2000 the Company exercised its option to purchase 300,000
shares of its common stock at $5.50 per share. The repurchased shares were
initially issued as partial consideration of Patterson's acquisition of certain
drilling assets during January 1999. Management of the Company was pleased with
the opportunity to repurchase these shares effectively reducing its purchase
price for the acquired assets and further enhancing shareholder value.
Patterson Energy, Inc., a Snyder, Texas based energy company, is one of the
leading providers of domestic land based drilling services to major independent
oil and natural gas companies. Patterson currently owns 119 drilling rigs (114
of which are currently operable) and focuses its operations in Texas, New
Mexico, Oklahoma, Louisiana, Utah and Mississippi.
For further information, contact:
Patterson Energy, Inc.
Cloyce A. Talbott, Chairman and Chief Executive Officer
Jonathan D. (Jody) Nelson, Vice President-Finance and Chief Financial Officer
(915) 573-1104
[email protected]
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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 hereunto duly authorized.
PATTERSON ENERGY, INC.
Date: February 9, 2000 By: /s/ Jonathan D. Nelson
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Jonathan D. (Jody) Nelson
Vice President-Finance
