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Patterson-Uti Energy Inc.
36 articles mentioning Patterson-Uti Energy Inc. · Page 1 of 2
Top Drilling Contractors Talk 2H '23 and 2024
The top drilling contractors provided an early look into what to expect in the second half and 2024. 1. Drilling activity is expected to continue declining into 3Q and stablized into the last quarter. 2. Expecting...
Patterson-UTI Expects +50 Rigs To be Added in 2023; PE-backed E&P To Lead.
Patterson-UTI provided some info on its annual survey during the most recent earnings calls. The company said "As part of our 2023 planning process, we recently completed a survey of a large representative sample of our...
Patterson-UTI Second Quarter 2022 Results
Patterson-UTI reported financial results for the quarter ended June 30, 2022. The Company reported net income of $21.9 million, or $0.10 per share, for the second quarter of 2022, compared to a net loss of $28.8...
Patterson-UTI's January 2021 Rig Counts at 67
Patterson-UTI Energy Inc. 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 average number of...
Patterson UTI, Frac Activity Better Than Expects; Rigs Growing
Patterson UTI, a horizontal drilling and frac company reported 3q 2020 results today. Here is a quick read through. Rig count was better than expected at 60 average through 3Q and expecting 63 through the end...
Patterson Reports September Drilling Activity Picking Up
Patterson UTI reported its September 2020 drilling activity data. Take-away, activity is picking up slightly. This is in keeping with what the company expected for the remainder of the year. Year over Year
Patterson UTI Sees Rig Count Normalizing; No Near-Term Debt
Patterson UTI reported its monthly rig activity, in which we see rig count beginning to normalize. The company has a large exposure to the gas-focused basins (Marcellus and Haynesville), hence the company rig count has held...
Three Major Service Companies Detail Drilling & Frac Outlook for 2H 2020
Halliburton, Schlumberger, and Patterson have shared what they expect will happen in North American land market for the remainder of the year. The companies talk about what to expect from drilling and completion/frac activity.
Patterson-UTI Second Quarter 2020 Results
Patterson-UTI Energy Inc. reported financial results for the three and six months ended June 30, 2020. Financials The Company reported a net loss of $150 million, or $0.81 per share, for the second quarter of 2020,...
Active Frac Spreads / Frac Crews Week Ending - April 24, 2020
The U.S. frac spreads/completion crew count for the week ending 4/24/2020 is 91. This mark another week where operators are focused on reducing not just their rig count by also completion count as well. To get...
Patterson-UTI Reports First Quarter 2020 Results; Warns of 60% Decline in Activity
Patterson-UTI Energy Inc. reported its Q1 2020 results. Below are the highlights from its conference call and report. Call Highlights Patterson's execs are planning to drop active frac fleets down to 4 (for comparison, Schlumberger is...
Service Companies Talk 2020: Rigs, Spending, Outlook
Below we take a look at the highlights from Patterson-UTI and Helmerich & Payne's Q4 conference calls. Quick Read Patterson UTI and H&P control some ~42% of the contract drilling market. Here what they think will...
Patterson-UTI: What to Expect in the U.S. Drilling & Frac Market for 2020
In its Q4 conference call, Patterson-UTI detailed its expectations for 2020. Quick read from the company conference call. Drilling: Rig Count bottom (see chart below) in Nov/Dec 2019. Drilling: Expect Rig count to moderately increase throughout...
Patterson Drilling Reports January Rig Count
Patterson Drilling reported its Janaury rig count and it increased by only one from its December numbers. The company reported that in January it had 123 rigs running up +1 from December when it had 122...
Updated : Frac Companies Permanently Retire 2.4 Million Horse Power
Updated : 12/12/2019 : Basic Energy Services said it is exiting the frac market, selling/dismantling its 500,000 HHP. Updated : 12/11/2019 : Superior (PumpCo) laid off its entire frac division (112 employees). As part of our...
Frac Company Permanently Retires 300k Horsepower
Patterson UTI said during its 3rd quarter call with investors that the company has opted to retire 300,000 HP from its frac fleets. The company will be left with some 1.3 million horsepower which makes up...
Major Drilling Contractor Calls Rig Count Bottom
Patterson UTI said it expects rig count to bottom in the 4th quarter and rebound in 1Q 2020 as operators reload/refresh budgets. Rig Count bottom, when? William Hendricks said, "Both drilling and pressure pumping activity are...
Patterson Drilling Activity- September 2019
Patterson UTI today reported that for the month of September 2019, the Company had an average of 135 drilling rigs operating. For the three months ended September 30, 2019, the Company had an average of 142...
Patterson Reports August 2019 Drilling Activity
Patterson UTI today reported that for the month of August 2019, the Company had an average of 142 drilling rigs operating. For the two months ended August 31, 2019, the Company had an average of 146...
Patterson-UTI: Rigs to Fall 10% in Q3; Pressure Pumping to Also Decline
Patterson-UTI reported its Q2 2019 results - here are the highlights: Q3 - 142 Rig Average (Down -10% from Q2) Andy Hendricks, Patterson-UTI's Chief Executive Officer, stated, "E&P companies are being extra vigilant this year in...