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.

HOUSTON, TX / ACCESSWIRE / May 13, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) ("Patterson-UTI" or "the Company") today announced that its subsidiary, Patterson-UTI International Holdings, Inc., has signed a non-binding term sheet with ADNOC Drilling, the largest national drilling contractor in the Middle East and the sole provider of drilling rig services in the Emirate of Abu Dhabi.

Patterson-UTI Signs Term Sheet to Partner with ADNOC Drilling in the UAE

HOUSTON, TX / ACCESSWIRE / May 6, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of April 2024, the Company had an average of 116 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for April 2024

Patterson-UTI (PTEN) expects Completion Services revenues of $860 million for the second quarter, with direct operating costs of $690 million and adjusted gross profit of $170 million.

Patterson-UTI (PTEN) Q1 Earnings and Sales Beat Estimates

Patterson-UTI Energy, Inc. (NASDAQ:PTEN ) Q1 2024 Earnings Conference Call May 2, 2024 10:00 AM ET Company Participants Mike Sabella - VP, IR Andy Hendricks - President, CEO & Director Andy Smith - CFO & EVP Conference Call Participants Luke Lemoine - Piper Sandler Jim Rollyson - Raymond James Scott Gruber - Citigroup Alexa Petrick - Goldman Sachs Derek Podhaizer - Barclays Capital Arun Jayaram - JPMorgan Stephen Gengaro - Stifel Saurabh Pant - Bank of America Merrill Lynch Waqar Syed - ATB Capital Markets Keith MacKey - RBC Capital Markets John Daniel - Daniel Energy Partners Operator Ladies and gentlemen, welcome to the Patterson UTI First Quarter 2024 conference call. [Operator Instructions].

Patterson-UTI Energy, Inc. (PTEN) Q1 2024 Earnings Call Transcript

HOUSTON, TX / ACCESSWIRE / May 1, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported financial results for the quarter ended March 31, 2024.

Patterson-UTI Energy Reports Financial Results for the Quarter Ended March 31, 2024

Patterson-UTI (PTEN) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Earnings Preview: Patterson-UTI (PTEN) Q1 Earnings Expected to Decline

HOUSTON, TX / ACCESSWIRE / April 8, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, May 2, 2024, at 9:00 a.m.

Patterson-UTI Energy Announces First Quarter Earnings Conference Call and Webcast

HOUSTON, TX / ACCESSWIRE / April 3, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of March 2024, the Company had an average of 120 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for March 2024

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HOUSTON, TX / ACCESSWIRE / March 4, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of February 2024, the Company had an average of 122 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for February 2024

Patterson-UTI Energy, Inc. (PTEN) Q4 2023 Earnings Call Transcript

Patterson-UTI (PTEN) plans to spend $740 million on capital expenditures in 2024. The company expects an effective tax rate of 24% and annual cash taxes of $35-$45 million for the year.

Patterson-UTI (PTEN) Q4 Earnings and Sales Beat Estimates

While the top- and bottom-line numbers for Patterson-UTI (PTEN) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Patterson-UTI (PTEN) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates

Patterson-UTI (PTEN) came out with quarterly earnings of $0.19 per share, beating the Zacks Consensus Estimate of $0.18 per share. This compares to earnings of $0.46 per share a year ago.

Patterson-UTI (PTEN) Q4 Earnings and Revenues Top Estimates

HOUSTON, TX / ACCESSWIRE / February 14, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported financial results for the quarter ended December 31, 2023.

Patterson-UTI Energy Reports Financial Results for the Quarter Ended December 31, 2023

Earnings Preview: Patterson-UTI (PTEN) Q4 Earnings Expected to Decline

HOUSTON, TX / ACCESSWIRE / February 5, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of January 2024, the Company had an average of 122 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for January 2024

HOUSTON, TX / ACCESSWIRE / January 19, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) will host a conference call on Thursday, February 15, 2024, at 9:00 a.m.

Patterson-UTI Energy Announces Fourth Quarter Earnings Conference Call and Webcast

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Oilfield service company Patterson-UTI's market capitalization is $4.3 billion, and it pays a 3.1% dividend. The company's merger-of-equals with NexTier (55% PTEN/45% NexTier) will enhance cash flow and EBITDA. Its acquisition of Ulterra adds an interesting bit of technology. Oilfield services is a very competitive sector. With producers (customers) merging and already reining in drilling costs, expect revenues to remain challenged.

Patterson-UTI Grows With NexTier Merger

HOUSTON, TX / ACCESSWIRE / January 8, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of December 2023, the Company had an average of 119 drilling rigs operating in the United States.

Patterson-UTI Reports Drilling Activity for December 2023

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HOUSTON, TX / ACCESSWIRE / December 8, 2023 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of November 2023, the Company had an average of 118 drilling rigs operating in the United States.

News for Patterson-UTI Energy Stock (PTEN)