Patterson-UTI Reports Drilling Activity for June 2009

Mon Jul 6, 2009 6:45am EDT
 
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HOUSTON, July 6 /PRNewswire-FirstCall/ -- PATTERSON-UTI ENERGY, INC. (Nasdaq:
PTEN) today reported that for the month of June 2009, the Company had an
average of 60 drilling rigs operating, including 58 rigs in the U.S. and 2
rigs in Canada.  For the three months ended June 2009, the Company had an
average of 63 drilling rigs operating, including 61 rigs in the U.S. and 2
rigs in Canada.

Average drilling rigs operating reported in the Company's monthly
announcements represent the average number of the Company's drilling rigs that
were operating under a drilling contract.  The Company cautioned that numerous
factors in addition to average drilling rigs operating can impact the
Company's operating results and that a particular trend in the number of
drilling rigs operating may or may not indicate a trend in or be indicative of
the Company's financial performance.  The Company intends to continue
providing monthly updates on drilling rigs operating shortly after the end of
each month. 

About Patterson-UTI
Patterson-UTI Energy, Inc. provides onshore contract drilling services to
exploration and production companies in North America.  The Company has
approximately 350 marketable land-based drilling rigs that operate primarily
in the oil and natural gas producing regions of Texas, New Mexico, Oklahoma,
Arkansas, Louisiana, Mississippi, Alabama, Colorado, Arizona, Utah, Wyoming,
Montana, North Dakota, South Dakota, Pennsylvania, West Virginia and western
Canada.  Patterson-UTI Energy, Inc. is also engaged in the businesses of
pressure pumping services and drilling and completion fluid services.  

Statements made in this press release which state the Company's or
management's intentions, beliefs, expectations or predictions for the future
are forward-looking statements.  It is important to note that actual results
could differ materially from those discussed in such forward-looking
statements. Important factors that could cause actual results to differ
materially include, but are not limited to, deterioration in the global
economic environment, declines in oil and natural gas prices that could
adversely affect demand for the Company's services, and their associated
effect on day rates, rig utilization and planned capital expenditures, excess
availability of land drilling rigs, including as a result of the reactivation
or construction of new land drilling rigs, adverse industry conditions,
difficulty in integrating acquisitions, demand for oil and natural gas,
shortages of rig equipment and ability to retain management and field
personnel.  Additional information concerning factors that could cause actual
results to differ materially from those in the forward-looking statements is
contained from time to time in the Company's SEC filings, which may be
obtained by contacting the Company or the SEC.  These filings are also
available through the Company's web site at http://www.patenergy.com or
through the SEC's Electronic Data Gathering and Analysis Retrieval System
(EDGAR) at http://www.sec.gov.  We undertake no obligation to publicly update
or revise any forward-looking statement. 





SOURCE  Patterson-UTI Energy, Inc.

John E. Vollmer III, SVP & Chief Financial Officer of Patterson-UTI Energy,
Inc., +1-281-765-7100

 

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