Patterson-UTI Energy, Inc. announced that it has priced its previously announced private offering of $525 million aggregate principal amount of 3.95% senior notes due 2028. The notes initially will be guaranteed on a senior unsecured basis by each of the company's domestic subsidiaries that are guarantors under its credit agreement. The company intends to use the net proceeds to repay amounts outstanding under its credit agreement and for general corporate purposes. The offering is expected to close on January 19, 2018, subject to the satisfaction of customary closing conditions. The notes and the guarantees will be offered only to qualified institutional buyers under Rule 144A under the Securities Act and to persons outside the United States under Regulation S under the Securities Act.