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.

Losses are mounting in the energy industry.

Why Patterson-UTI Energy's Shares Plunged 11.4% on Thursday

Shares of Patterson-UTI Energy (NASDAQ:PTEN) moved higher by 0.1% in pre-market trading after the company reported Q4 results. Quarterly Results Earnings per share were down 29.55% over the past year to ($0.57), which beat the estimate of ($0.62).

Recap: Patterson-UTI Energy Q4 Earnings

HOUSTON, Feb. 4, 2021 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the three months and year ended December 31, 2020. The Company reported a net loss of $107 million, or $0.57 per share, for the fourth quarter of 2020, compared to a net...

Patterson-UTI Energy Reports Financial Results for the Three Months and Year Ended December 31, 2020

HOUSTON, Feb. 3, 2021 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of January 2021, the Company had an average of 67 drilling rigs operating. Average drilling rigs operating reported in the Company's monthly announcements represent the...

Patterson-UTI Reports Drilling Activity for January 2021

Patterson-UTI Energy (PTEN) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Should You Buy Patterson-UTI Energy (PTEN) Ahead of Earnings?

Patterson-UTI (PTEN) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Patterson-UTI (PTEN) Expected to Beat Earnings Estimates: Should You Buy?

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HOUSTON, Jan. 6, 2021 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of December 2020, the Company had an average of 64 drilling rigs operating. For the three months ended December 31, 2020, the Company had an average of 62 drilling rigs...

Patterson-UTI Reports Drilling Activity for December 2020

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HOUSTON, Dec. 3, 2020 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of November 2020, the Company had an average of 61 drilling rigs operating. For the two months ended November 30, 2020, the Company had an average of 61 drilling rigs...

Patterson-UTI Reports Drilling Activity for November 2020

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Patterson-UTI (PTEN) reported earnings 30 days ago. What's next for the stock?

Why Is Patterson-UTI (PTEN) Up 45.6% Since Last Earnings Report?

HOUSTON, Nov. 4, 2020 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of October 2020, the Company had an average of 61 drilling rigs operating. Average drilling rigs operating reported in the Company's monthly announcements represent the...

Patterson-UTI Reports Drilling Activity for October 2020

Patterson-UTI's (PTEN) capital expenditure decreases to $13.4 million in Q3 from $68 million in the third quarter of 2019.

Patterson UTI (PTEN) on the Downside Despite Q3 Earnings Beat

Patterson-UTI Energy, Inc. (PTEN) CEO Andy Hendricks on Q3 2020 Results - Earnings Call Transcript

Shares of Patterson-UTI Energy (NASDAQ:PTEN) rose 2.7% in pre-market trading after the company reported Q3 results. Quarterly Results Earnings per share fell 122.22% year over year to ($0.60), which beat the estimate of ($0.62).

Recap: Patterson-UTI Energy Q3 Earnings

HOUSTON, Oct. 22, 2020 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the three and nine months ended September 30, 2020. The Company reported a net loss of $112 million, or $0.60 per share, for the third quarter of 2020, compared to a net...

Patterson-UTI Energy Reports Financial Results for the Three and Nine Months Ended September 30, 2020

Patterson-UTI's (PTEN) Contract Drilling and Pressure Pumping segments are likely to have underperformed in the third quarter.

What's in the Cards For Patterson-UTI (PTEN) in Q3 Earnings?

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HOUSTON, Oct. 5, 2020 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of September 2020, the Company had an average of 60 drilling rigs operating. For the three months ended September 30, 2020, the Company had an average of 60 drilling rigs...

News for Patterson-UTI Energy Stock (PTEN)