February 8, 2018 / 11:11 AM / 10 months ago

Patterson-UTI Energy posts quarterly profit

Feb 8 (Reuters) - Oil and gas driller Patterson-UTI Energy Inc on Thursday reported a quarterly profit in the fourth quarter compared to a year ago loss, helped by a $226.8 million tax benefit.

The company said its net profit was $195.4 million, or 88 cents per share for the quarter ended Dec. 31, compared to a loss of $78.1 million, or 53 cents per share loss a year earlier.

The Houston, Texas-based company’s revenue rose to $787.3 million from $246.9 million.

Reporting by Ahmed Farhatha in Bengaluru

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