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.

Earnings data Q4 2020

Earnings data Q1 2021

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Earnings data Q3 2024

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.

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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.

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HOUSTON, June 3, 2020 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of May 2020, the Company had an average of 80 drilling rigs operating. For the two months ended May 31, 2020, the Company had an average of 92 drilling rigs operating. Average...

Patterson-UTI Reports Drilling Activity for May 2020

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Patterson-UTI Energy, Inc. (PTEN) CEO Andy Hendricks on Q4 2019 Results - Earnings Call Transcript

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News for Patterson-UTI Energy Stock (PTEN)