Patterson-UTI Energy

Patterson-UTI Energy, Inc. engages in the provision of drilling and pressure pumping services, directional drilling, rental equipment and technology. It operates through the following segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its services to major and independent oil and natural gas operators. The Pressure Pumping Services segment offers pressure pumping services to oil and natural gas operators primarily in Texas and the Appalachian Basin. The Directional Drilling Services segment consists of downhole performance motors and equipment to provide services including directional drilling, downhole performance motors, motor rentals, directional surveying, measurement-while-drilling, and wireline steering tools, in most major onshore oil and natural gas basins. The company was founded by Cloyce A. Talbott and A. Glenn Patterson in 1978 and is headquartered in Houston, TX.

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Patterson-UTI Energy (PTEN) posts strong Q4 results, eyes growth

Patterson-UTI Energy (PTEN) reported a robust Q4 2022 performance, anticipating significant growth in 2023 driven by strong demand for rigs and pressure pumping services, supported by stable oil prices and operational efficiencies.
Despite cost and inflation challenges, PTEN's strategic initiatives around reactivating rigs, repricing contracts, and technology innovation position the company well for future profitability and market leadership.
With a focus on financial discipline, shareholder returns, and operational excellence, PTEN is poised to navigate industry dynamics, capitalize on growth opportunities, and drive sustainable value creation for stakeholders.
Proactive measures to address challenges, explore new markets, and invest in technology underscore PTEN's commitment to innovation, efficiency, and long-term success in the energy sector.

Patterson-UTI Energy posts strong Q1 results, eyes operational efficiency

Patterson-UTI Energy's Q1 performance reflects financial strength and strategic operational decisions.
While facing challenges in certain segments, the company is well-positioned to capitalize on growth opportunities.
Maintaining a focus on shareholder returns and operational efficiency, PTEN aims to navigate market dynamics effectively.
Strategic initiatives and cost-effective measures position Patterson-UTI Energy for sustainable growth and profitability.

Patterson-UTI Energy reports Q2 net income of $84.6 million

Patterson-UTI Energy remains positive about future prospects, expressing confidence in maintaining dayrates, pricing dynamics, and rig count recovery. They see more upside in gas activity compared to oil, especially in regions like South Texas and broader basins connected to Henry Hub.

Patterson-UTI Energy (PTEN) reports steady performance and growth opportunities

Patterson-UTI Energy (PTEN) is navigating challenges in drilling activity and completion services revenue while focusing on maximizing synergies from recent mergers. The company remains optimistic about positive momentum into 2024 and sees growth opportunities in international markets. PTEN is committed to enhancing shareholder value and maintaining operational efficiencies.

Patterson-UTI Energy (PTEN) posts robust Q4 results, eyes international growth

PTEN's strong Q4 performance post-merger showcases profitability and FCF strength. Strategic investments in technology and acquisitions position the company for growth. Challenges include cost increases and natural gas basin softness, offset by opportunities in international markets and e-fleet expansion.

Patterson-UTI Energy (PTEN) reports robust Q1 results and eyes shareholder returns

Patterson-UTI Energy (PTEN) showcased strong financial performance in Q1 2024, driven by robust free cash flow and successful segment operations. While facing challenges from weak natural gas prices, the company is focused on enhancing shareholder value through capital returns and strategic growth initiatives. Opportunities lie in market improvements, shareholder returns, and technological advancements.

Patterson-UTI Energy (PTEN) reports strong Q2 results, eyes growth opportunities

PTEN's Q2 performance reflects solid financial results, with a focus on shareholder value and operational efficiency across its business segments.
While facing challenges in managing CapEx and market uncertainties, the company remains optimistic about growth opportunities and is committed to maximizing free cash flow.
By prioritizing capital-efficient growth, rewarding shareholders, and pursuing strategic initiatives, PTEN aims to navigate industry challenges and drive sustainable value creation.

PTEN reports strong Q3 earnings, eyes growth amid market challenges

Patterson-UTI Energy (PTEN) delivered solid financial results in Q3 2024, focusing on operational excellence, shareholder value, and debt reduction. Despite challenges in completion activity and market dynamics, PTEN remains optimistic about the natural gas market stabilization and long-term outlook. The company's strategic acquisitions and commitment to enhancing shareholder value position it for future growth and profitability.

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Patterson-UTI Energy, Inc. engages in the provision of drilling and pressure pumping services, directional drilling, rental equipment, and technology. It operates through the following segments: Drilling Services, Completion Services, and Drilling Products. The Drilling Services segment represents contract drilling, directional drilling, oilfield technology, and electrical controls and automation businesses. The Completion Services segment offers hydraulic fracturing, wireline and pumping, completion support, cementing, and pressure pumping business. The Drilling Products segment focuses on manufacturing and distribution of drill bits business. The company was founded by Cloyce A. Talbott and A. Glenn Patterson in 1978 and is headquartered in Houston, TX.

In second-quarter 2021, Patterson-UTI (PTEN) spends $38.1 million on capital programs compared with $49.7 million invested a year ago.

Patterson-UTI (PTEN) Stock Down 9.4% Since Q2 Earnings Release

A higher drilling rig count will add to PTEN's top line in Q3.

Patterson-UTI Energy: The Pending Pioneer Acquisition Can Boost Growth

HOUSTON, Aug. 4, 2021 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of July 2021, the Company had an average of 78 drilling rigs operating.

Patterson-UTI Reports Drilling Activity for July 2021

Patterson-UTI Energy, Inc. (PTEN) CEO Andy Hendricks on Q2 2021 Results - Earnings Call Transcript

Patterson-UTI (PTEN) delivered earnings and revenue surprises of -3.85% and -1.00%, respectively, for the quarter ended June 2021. Do the numbers hold clues to what lies ahead for the stock?

Patterson-UTI (PTEN) Reports Q2 Loss, Lags Revenue Estimates

HOUSTON, July 29, 2021 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the three and six months ended June 30, 2021.

Patterson-UTI Energy Reports Financial Results for the Three and Six Months Ended June 30, 2021

With the Pioneer buyout, Patterson-UTI (PTEN) will own 166 super-spec rigs in the United States with nearly half the specimens being outfitted with alternative power sources to curb toxic emissions.

Patterson-UTI (PTEN) Inks Acquisition Deal With Pioneer Energy

HOUSTON, July 6, 2021 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today announced that it has entered into an agreement to acquire Pioneer Energy Services Corp. for approximately $295 million, which includes the retirement of all Pioneer Energy Services' debt.

Patterson-UTI Energy Announces Agreement to Acquire Pioneer Energy Services

HOUSTON, July 6, 2021 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of June 2021, the Company had an average of 75 drilling rigs operating.

Patterson-UTI Reports Drilling Activity for June 2021

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Patterson-UTI (PTEN) Moves 10.9% Higher: Will This Strength Last?

HOUSTON, June 3, 2021 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of May 2021, the Company had an average of 72 drilling rigs operating.

Patterson-UTI Reports Drilling Activity for May 2021

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HOUSTON, May 5, 2021 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of April 2021, the Company had an average of 72 drilling rigs operating.

Patterson-UTI Reports Drilling Activity for April 2021

Patterson-UTI (PTEN) reports $214 million in cash and cash equivalents, and $901.7 million as long-term debt at the end of the first quarter.

Patterson-UTI (PTEN) Q1 Loss Wider Than Expected, Revenues Meet

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Patterson-UTI Energy, Inc.'s (PTEN) CEO Andy Hendricks on Q1 2021 Results - Earnings Call Transcript

Patterson-UTI (PTEN) delivered earnings and revenue surprises of -1.79% and 0.77%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

Patterson-UTI (PTEN) Reports Q1 Loss, Tops Revenue Estimates

Shares of Patterson-UTI Energy (NASDAQ:PTEN) remained unaffected after the company reported Q1 results. Quarterly Results Earnings per share fell 26.67% year over year to ($0.57), which missed the estimate of ($0.56).

Recap: Patterson-UTI Energy Q1 Earnings

HOUSTON, April 29, 2021 /PRNewswire/ --  PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the three months ended March 31, 2021.

Patterson-UTI Energy Reports Financial Results for the Three Months Ended March 31, 2021

HOUSTON, April 6, 2021 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of March 2021, the Company had an average of 70 drilling rigs operating.

Patterson-UTI Reports Drilling Activity for March 2021

HOUSTON, March 3, 2021 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of February 2021, the Company had an average of 69 drilling rigs operating. For the two months ended February 28, 2021, the Company had an average of 68 drilling rigs...

Patterson-UTI Reports Drilling Activity for February 2021

Patterson-UTI's (PTEN) capital expenditure decreases to $10.4 million in Q4 from $64 million in the fourth quarter of 2019.

Patterson-UTI (PTEN) Posts Narrower-than-Expected Q4 Loss

Patterson-UTI Energy's (PTEN) CEO Andy Hendricks on Q4 2020 Results - Earnings Call Transcript

Losses are mounting in the energy industry.

News for Patterson-UTI Energy Stock (PTEN)