Patterson-UTI Increases SCR Rig Fleet

Patterson-UTI has acquired three recently refurbished SCR electric land drilling rigs and spare drilling equipment for $29 million. The drawworks rating is 1,500 horsepower for two of the rigs and 1,000 horsepower for one rig. Major refurbishments of the rigs were completed in 2006 and 2007 and two of the rigs are currently working. The third rig is also currently marketable and we expect for it to be working shortly.

Patterson-UTI Energy, Inc. provides onshore contract drilling services to exploration and production companies in North America. The Company now has approximately 350 currently marketable land-based drilling rigs that operate primarily in the oil and natural gas producing regions of Texas, New Mexico, Oklahoma, Arkansas, Louisiana, Mississippi, Colorado, Utah, Wyoming, Montana, North Dakota, South Dakota, Pennsylvania and western Canada. Patterson-UTI Energy, Inc. is also engaged in the businesses of pressure pumping services and drilling and completion fluid services. Additionally, the Company has an exploration and production business.