Patterson-UTI Energy Inc. reports developments tied to drilling and completion services for oil and natural gas exploration and production companies. Recurring updates cover U.S. drilling rigs earning revenue under contract, quarterly financial results, segment performance in Drilling Services and Completion Services, and market conditions affecting U.S. land drilling and hydraulic fracturing activity.
The company also reports developments involving contract drilling, directional drilling, integrated well completion services, specialized drill bit solutions, and selected international activity. News may include customer agreements, fleet utilization commentary, technology and equipment investments, conference call notices, dividends, and operating trends across U.S. and other selected markets.
Patterson-UTI Energy (PTEN) returned to profit in the third quarter of 2026, reporting $28 million attributable to common stockholders. Revenue rose 9% sequentially to $1.3 billion, and diluted earnings were $0.07 per share versus a $0.05 loss in the second quarter. Adjusted EBITDA, a non-GAAP earnings measure, was $264 million.
Completion pricing improved, while Drilling Products revenue rose 21% sequentially. Patterson-UTI expects fourth-quarter adjusted gross profit of $150 million in Drilling Services and $140 million in Completion Services, but a 5–10% sequential decline in Drilling Products. Rig reactivations and the Colombia wind-down will bring additional costs. Nine-month operating cash flow fell to $420.876 million from $563.693 million a year earlier. A quarterly dividend of $0.10 per share is payable December 15, 2026, to holders of record December 1.
Patterson-UTI Energy (NASDAQ:PTEN) reported an average of 103 drilling rigs operating in the United States during September 2026.
For the three months ended September 30, 2026, the average was 101 rigs. The measure counts rigs earning revenue under a drilling contract in the United States. The company cautioned that rig-count trends may not indicate financial-performance trends because other factors affect operating results, and it intends to continue monthly updates shortly after each month ends.
Patterson-UTI Energy (NASDAQ:PTEN) will host its third-quarter earnings conference call and webcast on October 29, 2026, at 9:00 a.m. Central Time. The discussion will cover results for the quarter ended September 30, 2026. The webcast will be accessible through the Investors section at investor.patenergy.com, with a replay available for one year.
Patterson-UTI Energy (PTEN) reported that it operated an average of 101 drilling rigs in the United States during August 2026. For the two months ended August 31, 2026, the company averaged 100 operating drilling rigs in the United States. These averages reflect rigs earning revenue under drilling contracts, and the company plans to continue issuing monthly updates shortly after each month-end.
Patterson-UTI Energy (NASDAQ:PTEN) reported that in July 2026 it had an average of 98 drilling rigs operating in the United States. This figure reflects rigs earning revenue under drilling contracts. The company plans to continue releasing monthly U.S. drilling rig activity updates shortly after each month-end.
Centuri Holdings (NYSE: CTRI) announced executive leadership changes, appointing Kelly Youngblood as Executive Vice President and Chief Financial Officer and Danielle Hunter as Executive Vice President, Chief Legal & Administrative Officer and Corporate Secretary, effective immediately. Youngblood succeeds Gregory A. Izenstark and brings over 30 years of global energy services and industrial distribution experience, including senior roles at DNOW and MRC. Hunter succeeds Jason S. Wilcock and has more than 15 years of public company executive leadership in the energy industry, most recently serving as President of Berry Corporation. According to Centuri, these appointments support its Vision One Centuri transformation and growth strategy.
Patterson-UTI Energy (NASDAQ:PTEN) reported second quarter 2026 revenue of $1.23 billion, a 10% sequential increase. Net loss attributable to common stockholders was $20 million, while adjusted net income was $1 million, excluding a $21 million non-cash charge from exiting Contract Drilling in Colombia and a $5 million non-cash write-down of other noncontrolling investments. Adjusted EBITDA was $232 million.
Segment results included Drilling Services revenue of $374 million, Completion Services revenue of $754 million, Drilling Products revenue of $91 million, and Other revenue of $9 million. The board declared a quarterly dividend of $0.10 per share, payable September 15, 2026, to shareholders of record on September 1, 2026. For third quarter 2026, the company expects an average U.S. rig count of about 100 and adjusted gross profit of approximately $145 million in Drilling Services, $140 million in Completion Services, $40 million in Drilling Products, and $5 million in Other, with 2026 capital expenditures still projected at about $600 million.
Patterson-UTI Energy (NASDAQ: PTEN) will hold a second-quarter 2026 earnings conference call on Thursday, July 30, 2026, at 9:00 a.m. Central Time. Investors can join via North America dial-in, international dial-in, or webcast, with a replay available on the company website for one year.
Patterson-UTI Energy (NASDAQ:PTEN) reported an average of 95 drilling rigs operating in the United States for June 2026. For the three months ended June 30, 2026, the average was 92 rigs. Average rigs reflect rigs earning revenue under contract. The company noted that rig counts alone may not indicate financial performance and plans to continue monthly drilling activity updates.
Patterson-UTI Energy (NASDAQ:PTEN) reported an average of 92 drilling rigs operating in the United States during May 2026 and 90 rigs for the two months ended May 31, 2026.
These averages reflect rigs earning revenue under contracts. Patterson-UTI plans ongoing monthly activity updates and notes that rig counts alone may not indicate financial performance.