Seventy Seven Energy Inc.

Seventy Seven Energy Inc. (“SSE”) and Patterson-UTI Energy Inc. (NASDAQ: PTEN) (“Patterson-UTI”) announced today that SSE was extending the deadline for holders of its outstanding warrants to exercise those warrants in advance of the consummation of the merger contemplated by the previously announced Agreement and Plan of [...]

SEVENTY SEVEN ENERGY INC. (“SSE”) announced today that it will hold a special meeting of its stockholders in connection with the proposed merger with Patterson-UTI Energy Inc. (“Patterson UTI”) on April 20, 2017 at 9:00 a.m. Central Time, at SSE’s offices at 777 N.W. 63rd Street, Oklahoma City, Oklahoma 73116. At the [...]

SEVENTY SEVEN ENERGY INC. (“SSE”) announced today that it has established a record date for the special meeting of its stockholders to consider and vote upon (i) the proposal to adopt the previously announced Agreement and Plan of Merger (the “Merger Agreement”) dated as of December 12, 2016, by and among SSE, [...]

Seventy Seven Energy Inc. (“SSE”) today reported financial and operational results for the five months and quarter ended December 31, 2016 for its Successor and the seven months ended July 31, 2016 for its Predecessor. Upon emergence from Chapter 11 bankruptcy on August 1, 2016, SSE adopted fresh-start accounting, which resulted in the [...]

Patterson-UTI Energy and Seventy Seven Energy today jointly announced that the two companies have entered into a definitive merger agreement pursuant to which Patterson-UTI will acquire Seventy Seven Energy in an all-stock transaction.  Patterson-UTI and Seventy Seven Energy are both leaders in building and operating high-spec rigs, and the [...]

Seventy Seven Energy Inc. (“SSE”) today reported financial and operational results for the one month ended July 31, 2016 for its Predecessor and the two months ended September 30, 2016 for its Successor. Upon emergence from Chapter 11 bankruptcy on August 1, 2016, SSE adopted fresh-start accounting, which resulted in the Company [...]

Seventy Seven Energy Inc. (“SSE”) today reported financial and operational results for the second quarter of 2016. Key information related to SSE for the second quarter is as follows: Emerged from bankruptcy on August 1, 2016, which reduced debt by $1.115 billion Net Loss of $84.5 million Consolidated Adjusted EBITDA of $31.5 million 8 [...]

Seventy Seven Energy Inc. (the “Company”) today announced that it has successfully completed its prepackaged restructuring and recapitalization and emerged from Chapter 11 bankruptcy protection. The Company, whose Chapter 11 plan of reorganization was confirmed by the United States Bankruptcy Court for the District of Delaware on July [...]

Seventy Seven Energy Inc. (the “Company”) today announced that it has filed a pre-packaged plan of reorganization under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. As previously announced, the Company’s pre-packaged plan provides for a substantial deleveraging [...]

Seventy Seven Energy Inc. (the “Company”), today announced that it has entered into a Second Amended and Restated Restructuring Support Agreement (the “Second Amended and Restated Restructuring Support Agreement”) with (i) certain lenders representing 100% of the outstanding principal amount under the Company’s [...]