Patterson-UTI (PTEN +6.3%) agrees to pay $237.7M for well assets from Key Energy (KEG +3.9%),...

|About: Patterson-UTI Energy, Inc. (PTEN)|By:, SA News Editor

Patterson-UTI (PTEN +6.3%) agrees to pay $237.7M for well assets from Key Energy (KEG +3.9%), expanding Patterson-UTI's presence in southern and eastern U.S. shales. The firm's entered a new $250M credit agreement which might fund the deal.