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Patterson-UTI Energy Inc (PTEN.OQ)

PTEN.OQ on NASDAQ Stock Exchange Global Select Market

12.86USD
18 Jan 2019
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Latest Key Developments (Source: Significant Developments)

Patterson-UTI Says Co Had Average 185 Drilling Rigs Operating In December 2018
Friday, 4 Jan 2019 06:00am EST 

Jan 4 (Reuters) - Patterson-UTI Energy Inc ::PATTERSON-UTI REPORTS DRILLING ACTIVITY FOR DECEMBER 2018.PATTERSON-UTI ENERGY INC - FOR MONTH OF DECEMBER 2018, COMPANY HAD AN AVERAGE OF 185 DRILLING RIGS OPERATING.PATTERSON-UTI ENERGY INC - FOR THREE MONTHS ENDED DECEMBER 31, 2018, COMPANY HAD AN AVERAGE OF 183 DRILLING RIGS OPERATING..  Full Article

Patterson-UTI Energy Q3 Loss Per Share $0.10 Excluding Items
Thursday, 25 Oct 2018 06:00am EDT 

Oct 25 (Reuters) - Patterson-UTI Energy Inc ::PATTERSON-UTI ENERGY REPORTS FINANCIAL RESULTS FOR THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2018.Q3 LOSS PER SHARE $0.10 EXCLUDING ITEMS.Q3 LOSS PER SHARE $0.34.Q3 REVENUE $867 MILLION VERSUS I/B/E/S VIEW $846.1 MILLION.Q3 EARNINGS PER SHARE VIEW $-0.12 -- THOMSON REUTERS I/B/E/S.RECORDED $65.9 MILLION OF NON-CASH IMPAIRMENT CHARGES IN Q3.BASED ON CONTRACTS CURRENTLY IN PLACE, CO EXPECTS AN AVERAGE OF 127 RIGS OPERATING UNDER TERM CONTRACTS DURING Q4.PATTERSON-UTI - BASED ON CONTRACTS CURRENTLY IN PLACE, CO SEES AVERAGE OF 81 RIGS OPERATING UNDER TERM CONTRACTS FOR 12 MONTHS ENDING SEPT. 30, 2019.BELIEVE 42 RIGS BEING RETIRED HAVE LIMITED COMMERCIAL OPPORTUNITY.IN CONTRACT DRILLING, RIG COUNT AVERAGED 178 RIGS DURING Q3, AN INCREASE OF TWO RIGS FROM Q2.AVERAGE RIG OPERATING COSTS PER DAY FOR THE THIRD QUARTER WERE $13,810.IN CONTRACT DRILLING, EXPECT Q4 RIG COUNT WILL AVERAGE 182.AVERAGE RIG MARGIN PER DAY FOR THE THIRD QUARTER WAS $8,470, A SEQUENTIAL INCREASE OF $200.PATTERSON-UTI ENERGY - "FUNDAMENTALS REMAIN STRONG FOR U.S. ONSHORE DRILLING AND COMPLETION ACTIVITY DESPITE NEAR-TERM SLOWDOWN IN PRESSURE PUMPING"."GEOPOLITICAL ISSUES AND A SUSTAINED PERIOD OF UNDERINVESTMENT IN OIL AND GAS PROJECTS CONSTRAIN SUPPLY GROWTH".NEAR-TERM CHALLENGES RELATED TO E&P BUDGET EXHAUSTION AND PIPELINE CONSTRAINTS ARE EXPECTED TO BE TEMPORARY.  Full Article

Patterson-UTI Energy Says Entered Into Amended And Restated Credit Agreement
Tuesday, 27 Mar 2018 05:09pm EDT 

March 27 (Reuters) - Patterson-Uti Energy Inc ::PATTERSON-UTI ENERGY SAYS ‍ON MARCH 27, 2018, ENTERED INTO AN AMENDED AND RESTATED CREDIT AGREEMENT - SEC FILING​.PATTERSON-UTI ENERGY INC - ‍MATURITY DATE UNDER CREDIT AGREEMENT IS MARCH 27, 2023​.PATTERSON-UTI ENERGY - ‍CREDIT AGREEMENT IS A COMMITTED SENIOR UNSECURED REVOLVING CREDIT FACILITY THAT PERMITS BORROWINGS OF UP TO $600 MILLION​.  Full Article

Patterson-UTI Energy Acquires Superior QC
Wednesday, 21 Feb 2018 06:00am EST 

Feb 21 (Reuters) - Patterson-Uti Energy Inc ::PATTERSON-UTI ENERGY ACQUIRES SUPERIOR QC, A DIRECTIONAL DRILLING ANALYTICS COMPANY.PATTERSON-UTI ENERGY INC - CHAD HANAK HAS JOINED PATTERSON-UTI.PATTERSON-UTI ENERGY - CHAD HANAK IS FOUNDER OF SUPERIOR QC LLC.  Full Article

Patterson-UTI Energy Posts Q4 Adj. Loss Per Share $0.10
Thursday, 8 Feb 2018 06:00am EST 

Feb 8 (Reuters) - Patterson-UTI Energy Inc ::PATTERSON-UTI ENERGY REPORTS FINANCIAL RESULTS FOR THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2017.Q4 LOSS PER SHARE $0.10 EXCLUDING ITEMS.Q4 EARNINGS PER SHARE $0.88.Q4 REVENUE $787 MILLION VERSUS $247 MILLION.‍AVERAGE RIG MARGIN PER DAY FOR Q4 INCREASED $280 SEQUENTIALLY TO $8,010​.Q4 EARNINGS PER SHARE VIEW $-0.08, REVENUE VIEW $764.5 MILLION -- THOMSON REUTERS I/B/E/S.QTRLY ‍AVERAGE RIG REVENUE PER DAY OF $20,950​.QTRLY ‍AVERAGE RIG OPERATING COSTS PER DAY INCREASED, AS EXPECTED, TO $12,940 FROM AN UNUSUALLY LOW LEVEL IN Q3​.‍EXPECT AN AVERAGE OF 96 RIGS OPERATING UNDER TERM CONTRACTS DURING Q1​.‍EXPECT AVERAGE OF 67 RIGS OPERATING UNDER TERM CONTRACTS DURING 2018​.  Full Article

Patterson-UTI Energy Prices $525 Mln Senior Notes Offering
Wednesday, 10 Jan 2018 02:43pm EST 

Jan 10 (Reuters) - Patterson-Uti Energy Inc ::PATTERSON-UTI ENERGY, INC. ANNOUNCES PRICING OF $525 MILLION OFFERING OF 3.95% SENIOR NOTES DUE 2028.  Full Article

Patterson-Uti Energy Inc Announces Proposed Private Debt Offering
Friday, 5 Jan 2018 08:57am EST 

Jan 5 (Reuters) - Patterson-Uti Energy Inc ::PATTERSON-UTI ENERGY INC - ‍PROPOSING TO ISSUE SENIOR NOTES TO ELIGIBLE PURCHASERS IN A PRIVATE OFFERING​.PATTERSON-UTI ENERGY INC - INTENDS TO USE NET PROCEEDS TO REPAY AMOUNTS OUTSTANDING UNDER ITS CREDIT AGREEMENT.PATTERSON-UTI ENERGY, INC. ANNOUNCES PROPOSED PRIVATE DEBT OFFERING.  Full Article

Patterson-Uti Reports Drilling Activity For December 2017
Thursday, 4 Jan 2018 06:00am EST 

Jan 4 (Reuters) - Patterson-Uti Energy Inc ::PATTERSON-UTI REPORTS DRILLING ACTIVITY FOR DECEMBER 2017.PATTERSON-UTI ENERGY INC - FOR THREE MONTHS ENDED DECEMBER 31, 2017, COMPANY HAD AN AVERAGE OF 161 DRILLING RIGS OPERATING.PATTERSON-UTI ENERGY INC - FOR MONTH OF DECEMBER 2017, COMPANY HAD AN AVERAGE OF 163 DRILLING RIGS OPERATING.  Full Article

Patterson-UTI Energy Q3 loss per share $0.16
Thursday, 26 Oct 2017 06:00am EDT 

Oct 26 (Reuters) - Patterson-UTI Energy Inc :Patterson-UTI Energy reports financial results for three and nine months ended September 30, 2017.Q3 loss per share $0.16.Q3 revenue $685 million versus I/B/E/S view $687.6 million.Q3 earnings per share view $-0.18 -- Thomson Reuters I/B/E/S.Patterson-UTI Energy Inc - ‍averaged 161 operating rigs during quarter compared to 146 during Q2​.Patterson-UTI -Q3 ‍average rig margin/day up $1,010 sequentially to $7,730 due primarily to $960/day decrease in average rig operating costs to $12,600​.Patterson-UTI Energy inc - ‍based on contracts currently in place, expect an average of 87 rigs operating under term contracts during q4​.Patterson-UTI says qtrly ‍average rig margin/day increased sequentially to $7,730 due to $960/day decrease in average rig operating costs to $12,600​.Patterson-UTI Energy says ‍plan to reactivate one additional frac spread during Q4, bringing its active frac fleet at end of year to 23 active spreads​.  Full Article

Patterson-UTI reports drilling activity for August 2017
Tuesday, 5 Sep 2017 06:00am EDT 

Sept 5 (Reuters) - Patterson-UTI Energy Inc :Patterson-UTI reports drilling activity for August 2017.Patterson-UTI Energy Inc- for month of August 2017, company had an average of 162 drilling rigs operating.  Full Article

U.S. safety board links plugged drill pipe to Oklahoma well fire

HOUSTON There were signs that a natural gas well was not fully sealed before it exploded in January, killing five workers, the U.S. Chemical Safety Board said in an updated report on the accident on Thursday.