On Monday, Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN), subtract -1.49% and closed at $23.73 in the last trading session. PTEN stock opened its last trade at $24.03 and after floating in a range of $23.49 to $24.28. The company’s Market capitalization is $147.73 million with the total Outstanding Shares of 147.73 million. During the 52-week trading session the minimum price at which share price traded, registered at $10.94 and reached to max level of $25.01. PATTERSON-UTI ENERGY, INC. (PTEN) recently stated that for the month of September 2016, the Company had an average of 62 drilling rigs operating in the United States and two rigs in Canada. For the three months ended September 30, 2016, the Company had an average of 60 drilling rigs operating in the United States and two rigs in Canada.
Average drilling rigs operating stated in the Company’s monthly declarements represent the average number of the Company’s drilling rigs that were operating under a drilling contract. The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company’s operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company’s financial performance. The Company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.
SM Energy Co (NYSE:SM), dropped -0.46% and closed at $38.72 in the last trading session. SM stock opened its last trade at $39.04 and after floating in a range of $38.19 to $39.54. The company’s Market capitalization is $3.17 Billion with the total Outstanding Shares of 84.47 million. During the 52-week trading session the minimum price at which share price traded, registered at $6.99 and reached to max level of $42.33. SM Energy Company (SM) declared recently that the Company closed the formerly declared acquisition of 24,783 net acres in Howard County, Texas, from Rock Oil Holdings LLC for $980 million, before customary purchase price adjustments.
The mostly contiguous acreage position expands the Company’s Midland Basin footprint to about 46,750 net acres. The effective date of the transaction is September 1, 2016, and the Company’s preliminary estimate of net production from the attained acreage for the month of September is about 5,300 Boe per day (3-stream).
Subsequent to the close of the transaction and as part of the regularly planned redetermination process under its credit agreement, the Company’s borrowing base has been raised to $1.35 billion, with bank commitments of $1.25 billion, providing the Company with substantial liquidity.