Patterson-UTI Energy Inc. today reported that for the month of February 2022, the Company had an average of 116 drilling rigs operating in the United States. For the two months ended February 28, 2022, the Company had an average of 114 drilling rigs operating in the United States. Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs [...]
Patterson-UTI Energy Inc. today reported financial results for the three months and year ended December 31, 2021. The Company reported a net loss of $362 million, or $1.68 per share, for the fourth quarter of 2021, compared to a net loss of $107 million, or $0.57 per share, for the fourth quarter of 2020. Excluding charges described below, the majority of which were non-cash, the net loss for the fourth quarter of 2021 [...]
Patterson-UTI Energy Inc. today reported that for the month of January 2022, the Company had an average of 113 drilling rigs operating in the United States. Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs that were earning revenue under a drilling contract in the United States. The Company cautioned that numerous factors in [...]
Patterson-UTI Energy Inc. today reported that for the month of December 2021, the Company had an average of 110 drilling rigs operating in the United States. For the three months ended December 31, 2021, the Company had an average of 106 drilling rigs operating in the United States. Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs [...]
Patterson-UTI Energy Inc. today announced that it has sold to Clearwell Dynamics, LLC the well service rig business and wireline business that it acquired as part of its acquisition of Pioneer Energy Services Corp. The sale transaction was completed on December 31, 2021, and Patterson-UTI received $43 million in cash consideration, subject to customary purchase price adjustments at closing for cash and working capital [...]
Patterson-UTI Energy Inc. will hold a conference call on Thursday, February 10, 2022, at 9:00 a.m. Central Time to discuss results for the fourth quarter ending December 31, 2021. Participants can access the call by dialing 960-0676 or 550-5422 with the Conference ID 3822955. The call will also be webcast and can be accessed through a link in the Investors section of the Company's website at investor.patenergy.com. A [...]
Patterson-UTI Energy Inc. today reported that for the month of November 2021, the Company had an average of 106 drilling rigs operating in the United States. For the two months ended November 30, 2021, the Company had an average of 104 drilling rigs operating in the United States. Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs [...]
Patterson-UTI Energy Inc. today reported that for the month of October 2021, the Company had an average of 103 drilling rigs operating in the United States. Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs that were earning revenue under a drilling contract in the United States. The Company cautioned that numerous factors in [...]
Patterson-UTI Energy Inc. today reported financial results for the three and nine months ended September 30, 2021. The Company reported a net loss of $83.0 million, or $0.44 per share, for the third quarter of 2021, compared to a net loss of $112 million, or $0.60 per share, for the third quarter of 2020. Revenues for the third quarter of 2021 were $358 million, compared to $207 million for the third quarter of 2020. For [...]
Leaders in advanced technologies combine forces to accelerate digital oilfield transformation and advance ESG. Corva, the leader in real time drilling and completions analytics, and Patterson-UTI Energy Inc. , a leading provider of drilling and completion services, today announced a strategic data analytics and visualization collaboration plan that will equip oil & gas producers with the digital tools to drill and [...]
Patterson-UTI Energy Inc. today reported that for the month of September 2021, the Company had an average of 83 drilling rigs operating. For the three months ended September 30, 2021, the Company had an average of 80 drilling rigs operating. Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs that were earning revenue under a drilling [...]
Patterson-UTI Energy Inc. today announced that it has closed its previously announced acquisition of Pioneer Energy Services Corp. Total consideration for the acquisition included the issuance of approximately 26.3 million shares of Patterson-UTI common stock and payment of $30 million of cash, which based on the most recent closing price for Patterson-UTI of $9.44 valued the transaction at approximately $278 million [...]
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