Tmbr/Sharp Drilling (NASDAQ:TBDI)
Historical Stock Chart
From Jun 2019 to Jun 2024
![Click Here for more Tmbr/Sharp Drilling Charts. Click Here for more Tmbr/Sharp Drilling Charts.](/p.php?pid=staticchart&s=N%5ETBDI&p=8&t=15)
TMBR/Sharp Drilling Sets Shareholder Meeting Date to Vote on Proposed Merger
With Patterson-UTI Energy
SNYDER and MIDLAND, Texas, Dec. 31 /PRNewswire-FirstCall/ -- PATTERSON-UTI
ENERGY, INC. , the second-largest operator of land-based oil and natural gas
drilling rigs in North America, and TMBR/Sharp Drilling, Inc. today jointly
announced that they have amended their Agreement and Plan of Merger, extending
the date under which the parties have certain rights of termination to February
14, 2004 from December 31, 2003.
TMBR/Sharp's board has established January 5, 2004 as the record date for
shareholders and has set February 11, 2004 as the meeting date for shareholders
to vote on the proposed merger.
THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OF ANY SECURITIES FOR SALE. A
REGISTRATION STATEMENT RELATING TO THE PATTERSON-UTI ENERGY, INC. COMMON STOCK
TO BE ISSUED TO THE TMBR/SHARP DRILLING, INC. SHAREHOLDERS AND A PRELIMINARY
PROXY STATEMENT RELATING TO THE MEETING OF THE SHAREHOLDERS OF TMBR/SHARP
DRILLING, INC. HAVE BEEN FILED WITH THE SECURITIES AND EXCHANGE COMMISSION AND
COPIES OF THESE DOCUMENTS MAY BE OBTAINED FREE OF CHARGE ON THE SEC WEBSITE
(http://www.sec.gov/ ). WE URGE YOU TO CAREFULLY REVIEW THESE DOCUMENTS BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION. TMBR/SHARP, ITS DIRECTORS, EXECUTIVE
OFFICERS AND CERTAIN MEMBERS OF MANAGEMENT AND EMPLOYEES MAY BE CONSIDERED
"PARTICIPANTS IN THE SOLICITATION" OF PROXIES FROM TMBR/SHARP'S SHAREHOLDERS IN
CONNECTION WITH THE TRANSACTION. INFORMATION REGARDING SUCH PERSONS AND THEIR
INTERESTS IN TMBR/SHARP IS CONTAINED IN TMBR/SHARP'S PROXY STATEMENTS AND ANNUAL
REPORTS ON FORM 10-K FILED WITH THE SEC. ADDITIONAL INFORMATION REGARDING THOSE
PERSONS AND THEIR INTERESTS IN THE TRANSACTION MAY BE OBTAINED BY READING THE
DEFINITIVE PROXY STATEMENT RELATING TO THE PROPOSED TRANSACTION WHEN IT BECOMES
AVAILABLE.
About Patterson-UTI Energy, Inc.
Patterson-UTI Energy, Inc. provides onshore contract drilling services to
exploration and production companies in North America. The Company owns 343
land-based drilling rigs that operate primarily in the oil and natural gas
producing regions of Texas, New Mexico, Oklahoma, Louisiana, Colorado, Utah,
Wyoming 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 a small exploration and production
business that is based in Texas.
About TMBR/Sharp Drilling, Inc.
TMBR/Sharp Drilling, Inc. is engaged in the contract drilling of oil and gas
wells in the Permian Basin of west Texas and eastern New Mexico and the
exploration for, development and production of oil and natural gas in these same
areas.
Statements made in this press release which state the intentions, beliefs,
expectations or predictions by either company or their management for the future
are forward-looking statements. It is important to note that actual results
could differ materially from those discussed in such forward-looking statements.
Important factors that could cause actual results to differ materially include,
but are not limited to, declines in oil and natural gas prices that could
adversely affect demand for the services of either company, and their associated
effect on day rates, rig utilization and planned capital expenditures, adverse
industry conditions, difficulty in integrating acquisitions, demand for oil and
natural gas, and ability to retain management and field personnel. Additional
information concerning factors that could cause actual results to differ
materially from those in the forward-looking statements is contained from time
to time in the SEC filings of both companies. Copies of these filings may be
obtained by contacting either company or the SEC. Free copies of the definitive
proxy statement, once available, and TMBR's other filings with the Commission
may also be obtained from TMBR/Sharp by directing a request to TMBR/Sharp
Drilling Inc., 4607 W. Industrial Blvd., Midland, Texas 79703, Attn: Patricia R.
Elledge, telephone number (432) 699-5050.
DATASOURCE: Patterson-UTI Energy, Inc.; TMBR/Sharp Drilling, Inc.
CONTACT: John E. Vollmer III, SVP-Corporate Development of Patterson-UTI
Energy, Inc., +1-214-360-7800; or Thomas C. Brown, Chairman of the Board of
TMBR/Sharp Drilling, Inc., +1-432-699-5050