 HOUSTON, Oct. 8, 2021 PRNewswire -- Pioneer Energy Services LLC the Company or Pioneer, the successor to Pioneer Energy Services Corp. PES and a wholly owned subsidiary of Patterson-UTI Energy, Inc. NASDAQ: PTEN Patterson-UTI, today announced the accelerated mandatory conversion of all outstanding principal amount of its 5.00 Convertible Senior Unsecured PIK Notes Due 2025 the Convertible Notes. The previously announced consummation of the acquisition by Patterson-UTI of PES on October 1, 2021 constituted a Share Exchange Event under the terms of the Convertible Notes Indenture, dated May 29, 2020. 