Market Overview

Patterson-UTI Energy Announces Appointment of Andy Hendricks as CEO

PATTERSON-UTI ENERGY (NASDAQ: PTEN)today announced that its Board of Directors has appointed William Andrew ("Andy") Hendricks, Jr. as Chief Executive Officer effective October 1, 2012, elevating him from his current position of Chief Operating Officer.  He will replace Douglas J. Wall, who is retiring as CEO on September 30, 2012.  Additionally, the Company announced that Michael W. Conlon has been appointed to the Board of Directors.

Mark S. Siegel, Patterson-UTI's Chairman, stated, "It has been both a personal and professional privilege to work with Doug.  I would like to thank him for not only his service to the Company, but also for his efforts to ensure a smooth management transition.  I am encouraged by the skills and talents that Andy has brought to our management team, and I remain confident that the Company is in good hands."

Posted-In: News Management

 

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