Patterson-UTI – Oil & Gas 360

ADNOC, SLB, Patterson-UTI partner to accelerate UAE’s unconventional oil and gas program under Turnwell Industries name

September 30, 2024

(World Oil) – SLB announced an agreement to create Turnwell Industries LLC OPC (Turnwell), a joint venture (JV) with ADNOC Drilling Company, SLB and Patterson-UTI. The JV will allow the three companies to leverage leading innovations in AI, smart drilling design, completions engineering and production solutions. The JV will focus on the acceleration of UAE’s unconventional oil and gas program,

ExxonMobil, Helmerich & Payne take top U.S. drilling, customer spots in latest Enverus report

August 30, 2024

World Oil (WO) — Enverus has released a list of top drillers and customer rankings in the U.S., as well as detailed drilling rig analytics. Top U.S. land drilling customers of Q1 2024 by footage. Keeping its spot at #1 is ExxonMobil with a total drilled measured depth (MD) of 4,230,025, a well count of 220, and an average drill rate

Patterson-UTI reports drilling activity for July 2021

August 4, 2021

Patterson-UTI Reports Drilling Activity for July 2021 PR Newswire HOU…

Patterson-UTI Energy Reports Financial Results for the Three Months Ended March 31, 2021

April 29, 2021

Patterson-UTI Energy Reports Financial Results for the Three Months Ended March 31, 2021 …

Patterson-UTI reports drilling activity for December 2020

January 6, 2021

Oil and Gas 360 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 operating. Average drilling rigs operating reported in the Company’s monthly announcements represent the average number of

Patterson-UTI sees drilling activity picking up through early next year

October 22, 2020

Reuters U.S. oilfield services firm Patterson-UTI Energy PTEN.O expects activity to continue to improve through at least the first quarter of 2021, Chief Executive Andy Hendricks told investors on Thursday during an earnings call. The company, which offers contract drilling and hydraulic fracturing services in North America, expects to average 61 rigs in the current quarter, up from 60 in the third

Patterson-UTI sees 60% decline in activity as oil prices crater

April 23, 2020

Reuters Oilfield service firm Patterson-UTI Energy Inc (PTEN.O) on Thursday warned investors it would see a 60% decline in activity this year as shale companies slash spending and halt activity amid an unprecedented decline in oil prices. The company said it expects to exit the current quarter with about 70 rigs in operation, down from an average of 123 rigs

Patterson-UTI cost cuts help it post smaller-than-expected loss

October 24, 2019

Source: Reuters (Reuters) – Oilfield services firm Patterson-UTI reported a smaller-than-expected loss on Thursday, as cost cuts helped it limit the impact of an ongoing decline in North American shale activity. An investor push toward higher returns instead of growth amid weak oil prices has prompted U.S. shale producers to reduce spending, forcing rig providers to lower costs in the

Patterson-UTI Energy Secures $600 Million Credit Agreement

April 2, 2018

Patterson-UTI Energy Announces $600 Million Credit Agreement

Oil & Gas 360 - Haynes & Boone Borrowing Base Redeterminations Survey

Patterson-UTI Energy Completes Merger

April 21, 2017

Patterson-UTI (NASDAQ: PTEN) closed its merger with Seventy Seven Energy Inc. Stockholders of Seventy Seven Energy are entitled to receive 1.7851 shares of newly issued Patterson-UTI common stock in exchange for each share of Seventy Seven Energy. Patterson-UTI issued approximately 47.5 million shares pursuant to the merger. Concurrent with the closing of the merger, Patterson-UTI repaid all of the outstanding debt of

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