PTEN · 10-Q · 2026Q1 · Full report

Outstanding Indebtedness

PATTERSON UTI ENERGY INC · 2026-04-28 · Importance 64 · Surprise 42

Long‑term debt outstanding at March 31, 2026 totaled $1.2 billion consisting of $483 million of 2028 Notes, $345 million of 2029 Notes and $400 million of 2033 Notes. The Credit Agreement commitments were $500 million as of March 31, 2026, with scheduled maturities originally on January 31, 2030 and a subsequent amendment (April 24, 2026) extending $450 million of revolver commitments to January 31, 2031 subject to conditions. The company reported compliance with all covenants and no events of default as of March 31, 2026. Letters of credit outstanding totaled $32.4 million and surety bond exposure was $37.0 million as of March 31, 2026.

Key facts

• Our outstanding long-term debt at March 31, 2026 was $1.2 billion consisting of $483 million of 2028 Notes, $345 million of 2029 Notes and $400 million of 2033 Notes.
• The Credit Agreement commitments were $500 million as of March 31, 2026 and would mature on January 31, 2030.
• Operating lease liabilities totaled $40.9 million and finance lease liabilities totaled $6.6 million as of March 31, 2026.
• On January 31, 2025, we entered into the Second Amended and Restated Credit Agreement which amended and restated our Amended and Restated Credit Agreement dated March 27, 2018.
• We were in compliance with all covenants under the associated long-term debt agreements and indentures at March 31, 2026.
• We were in compliance with the covenants under the Credit Agreement at March 31, 2026 and no events of default had occurred at that date.

Impact estimates