Patterson-Uti Energy Inc - PTEN STOCK NEWS

Patterson-UTI Energy (NASDAQ:PTEN) has released its drilling activity report for March 2025. The company maintained a steady operational presence with 106 drilling rigs operating in the United States during March 2025. This average remained consistent throughout the first quarter of 2025, with the same number of rigs operating during the three months ended March 31, 2025.

The company emphasizes that while they provide monthly updates on operational rig count, this metric alone should not be considered definitive for financial performance assessment, as multiple factors influence their overall results.

Patterson-UTI Energy (NASDAQ:PTEN) has released its drilling activity report for February 2025. The company maintained an average of 107 drilling rigs operating in the United States during February, consistent with the two-month average ending February 28, 2025.

The company emphasizes that while they provide monthly updates on operational rig count, this metric alone may not fully indicate financial performance trends, as multiple factors influence their operating results.

Patterson-UTI Energy (NASDAQ:PTEN) has released its drilling activity report for January 2025, revealing an average of 106 drilling rigs operating under revenue-generating contracts in the United States during the month.

The company emphasizes that while rig count data is important, multiple factors beyond the number of operating rigs can impact their financial performance. Patterson-UTI plans to continue providing monthly updates on drilling rig operations shortly after each month's end.

Patterson-UTI Energy (NASDAQ:PTEN) reported its Q4 2024 financial results with total revenue of $1.2 billion and a net loss of $52 million ($0.13 per share). The company generated Adjusted EBITDA of $225 million and full-year 2024 cash from operations of $1.2 billion.

Key highlights include securing a new 5-year, $500 million unsecured revolving credit facility and returning $417 million to shareholders in 2024, including $290 million in share repurchases. The company maintains $759 million in remaining share repurchase authorization and declared a quarterly dividend of $0.08 per share.

For 2025, PTEN expects capital expenditures of approximately $600 million and anticipates stable U.S. shale drilling market conditions. The company operates over 155,000 Emerald™ horsepower in completion services and expects to surpass 200,000 horsepower by mid-2025.

Patterson-UTI Energy (NASDAQ:PTEN) has scheduled its fourth quarter 2024 earnings conference call for Thursday, February 6, 2025, at 9:00 a.m. Central Time. The company will discuss financial results for the quarter ended December 31, 2024.

Investors can participate through multiple channels: by phone using the numbers (800) 715-9871 for North America or (646) 307-1963 for international calls with Conference ID 3030069, or via webcast through the Investors section of the company's website. A replay of the conference call will remain accessible on the company's website for two weeks following the event.

Patterson-UTI Energy (NASDAQ:PTEN) has released its drilling activity report for December 2024. The company maintained an average of 104 drilling rigs operating in the United States during December. For the fourth quarter ending December 31, 2024, the average was slightly higher at 105 drilling rigs.

The company notes that these figures represent only rigs actively earning revenue under drilling contracts. Patterson-UTI emphasizes that rig count trends may not directly correlate with financial performance, as multiple factors influence their operating results. The company confirms it will continue providing monthly updates on operational rig counts.

Patterson-UTI Energy (NASDAQ:PTEN) has reported its drilling activity for November 2024. The company maintained an average of 105 drilling rigs operating in the United States during November, consistent with the two-month average ending November 30, 2024. The company notes that while rig count is one metric, multiple factors influence their financial performance, and rig count trends may not directly correlate with financial results. Patterson-UTI confirms it will continue providing monthly updates on operational rig counts.

Patterson-UTI Energy reported its drilling activity for October 2024, maintaining an average of 105 drilling rigs operating under contract in the United States. The company emphasized that while it will continue providing monthly updates on drilling rig operations, the number of operating rigs alone may not fully indicate financial performance trends, as multiple factors influence overall operating results.

Patterson-UTI Energy reported Q3 2024 financial results with total revenue of $1.4 billion. The company posted a net loss of $979 million ($2.50 per share), including an $885 million goodwill impairment and a $114 million asset retirement charge. Adjusted net income was $2 million, with Adjusted EBITDA of $275 million. The company generated $860 million in cash from operations and $322 million in free cash flow year-to-date. Patterson-UTI returned $71 million to shareholders in Q3 and declared a quarterly dividend of $0.08 per share. The company expects Q4 capital expenditures below $700 million and projects steady rig activity into 2025.