Patterson-UTI Energy to Retire About 10% of Rigs

Patterson-UTI Energy Inc (NASDAQ: PTEN) announced its plans to retire around 10% of its drilling rigs in December.

PTEN will retire 31 of its drilling rigs in December and projects to incur pretax impairment charges of around $11.3 million.

PTEN shares rose 0.45% to $20.00 in the after-hours trading session.