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 [...]
Patterson-UTI Energy Inc. will hold a conference call on Thursday, October 28, 2021, at 9:00 a.m. Central Time to discuss results for the third quarter ending September 30, 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 August 2021, the Company had an average of 79 drilling rigs operating. For the two months ended August 31, 2021, the Company had an average of 78 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 reported that for the month of July 2021, the Company had an average of 78 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 contract. The Company cautioned that numerous factors in addition to average drilling rigs operating can [...]
Patterson-UTI Energy Inc. today reported financial results for the three and six months ended June 30, 2021. The Company reported a net loss of $103 million, or $0.55 per share, for the second quarter of 2021, compared to a net loss of $150 million, or $0.81 per share, for the second quarter of 2020. Revenues for the second quarter of 2021 were $292 million, compared to $250 million for the second quarter of 2020. For the [...]
Patterson-UTI Energy Inc. 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. Consideration for this acquisition consists of the issuance of up to 26,275,000 shares of Patterson-UTI common stock plus payment of $30 million of cash. The transaction is expected to close in the fourth [...]
Patterson-UTI Energy Inc. today reported that for the month of June 2021, the Company had an average of 75 drilling rigs operating. For the three months ended June 30, 2021, the Company had an average of 73 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 contract [...]
Patterson-UTI Energy Inc. will hold a conference call on Thursday, July 29, 2021, at 9:00 a.m. Central Time to discuss results for the second quarter ending June 30, 2021. Participants can access the call by dialing 253-8640 or 494-0002 with the Conference ID 8255829. 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 replay of [...]
Patterson-UTI Energy Inc. today reported that for the month of May 2021, the Company had an average of 72 drilling rigs operating. For the two months ended May 31, 2021, the Company had an average of 72 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 contract. The [...]
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