Patterson-UTI Energy to Retire About 10% of Rigs

by Monica Gerson, Benzinga Staff Writer
December 30, 2011 5:06 AM | 16 seconds read |
Patterson-UTI Energy Inc PTEN announced its plans to retire around 10% of its drilling rigs in December. PTEN will retire 31 of its drilling rigs in December and projects to incur pretax impairment charges of around $11.3 million. PTEN shares rose 0.45% to $20.00 in the after-hours trading session.
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