Patterson-UTI Energy Inc. will host a conference call on Wednesday, November 8, 2023, at 9:00 a.m. Central Time to discuss results for the third quarter ended September 30, 2023. Due to the recent acquisitions of Ulterra Drilling Technologies and NexTier Oilfield Solutions, the Company will report earnings later than is typical for the third quarter of 2023. The Company expects to discuss results for the fourth quarter [...]
Patterson-UTI Energy Inc. today reported that for the month of September 2023, the Company had an average of 117 drilling rigs operating in the United States. For the three months ended September 30, 2023, the Company had an average of 119 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 August 2023, the Company had an average of 117 drilling rigs operating in the United States. For the two months ended August 31, 2023, the Company had an average of 120 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 [...]
Patterson-UTI Energy Inc. today announced the completion of its previously announced all-stock merger with NexTier Oilfield Solutions Inc. , creating a leading provider of drilling and completions services in the United States. The combined company will retain the name Patterson-UTI Energy Inc., continue trading under the ticker symbol PTEN and maintain its headquarters in Houston, Texas. Patterson-UTI prides itself on [...]
Patterson-UTI Energy Inc. and NexTier Oilfield Solutions Inc. today announced that, at separate special meetings held earlier today, both companies' shareholders voted in favor of all proposals necessary for the closing of the previously announced all-stock merger of equals transaction. Andy Hendricks, Chief Executive Officer of Patterson-UTI, commented, "We are pleased with the overwhelming support of shareholders for [...]
Patterson-UTI Energy Inc. today announced that the Company will participate in the Barclays CEO Energy-Power Conference on Tuesday, September 5, 2023, and Wednesday, September 6, 2023. Participating in the conference from Patterson-UTI will be Andy Hendricks, Chief Executive Officer; Andy Smith, Chief Financial Officer; Mike Holcomb, Chief Operating Officer; and Mike Drickamer, Vice President Investor Relations. While at [...]
Patterson-UTI Energy Inc. , a leading provider of drilling and completions services in the United States, today announced it has completed the acquisition of Ulterra Drilling Technologies, L.P. , a global provider of specialized drill bit solutions. Total consideration for the acquisition, on a cash-free, debt-free basis, included $370 million of cash and 34.9 million shares of Patterson-UTI common stock. Andy Hendricks [...]
Patterson-UTI Energy Inc. today reported that for the month of July 2023, the Company had an average of 123 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 addition [...]
Patterson-UTI Energy Inc. and NexTier Oilfield Solutions Inc. today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 , in connection with the previously announced all-stock merger of equals transaction. The expiration of the waiting period under the HSR Act satisfies one condition needed to close the merger, which remains on track to occur this year. The [...]
Patterson-UTI Energy Inc. today reported financial results for the quarter ended June 30, 2023. The Company reported net income of $84.6 million, or $0.40 per share, for the second quarter of 2023, compared to net income of $99.7 million, or $0.46 per share, for the first quarter of 2023. Revenues for the second quarter of 2023 were $759 million, compared to $792 million for the first quarter of 2023. Financial results [...]
Patterson-UTI Energy Inc. today reported that for the month of June 2023, the Company had an average of 126 drilling rigs operating in the United States. For the three months ended June 30, 2023, the Company had an average of 128 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 [...]
Ulterra is a Leading Provider of Highly Engineered Polycrystalline Diamond Compact Drill Bits in North America with a Growing International Presence Consideration Comprised of $370 Million of Cash and 34.9 Million Shares of Patterson-UTI Common Stock Ulterra's Data-Centric Approach Expands Patterson-UTI's Drilling and Completions Related Data Analytics Technology for Improved Performance Patterson-UTI to Host Conference [...]
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