Patterson-Uti Energy Inc Stock Price, News & Analysis

Patterson-UTI Energy (NASDAQ:PTEN) reported an average of 128 drilling rigs operating in the U.S. for August 2022, maintaining an average of 127 rigs over the two months ending August 31, 2022. The company's monthly announcements reflect the number of rigs earning revenue under contract. While the number of rigs indicates operational activity, it may not correlate directly with overall financial performance. Patterson-UTI plans to provide regular updates on drilling rig activity.

Patterson-UTI Energy (NASDAQ:PTEN) will participate in the Barclays CEO Energy-Power Conference on September 6-7, 2022. Key executives, including CEO Andy Hendricks and CFO Andy Smith, will be present. Notably, Hendricks will engage in a fireside chat on September 7 at 9:45 a.m. Eastern time, accessible via the investor relations section of the company's website. Patterson-UTI provides oilfield services, emphasizing contract drilling, pressure pumping, and directional drilling. For further information, visit patenergy.com.

Patterson-UTI Energy, Inc. (NASDAQ: PTEN) reported an average of 126 drilling rigs operating in the U.S. for July 2022. This figure represents the average number of drilling rigs earning revenue under contract. The company cautioned that various factors can influence its operating results, and trends in rig activity may not fully reflect financial performance. Patterson-UTI plans to provide monthly updates on drilling activity.

Patterson-UTI Energy reported a net income of $21.9 million, or $0.10 per share, for Q2 2022, reversing a net loss of $28.8 million, or $0.13 per share, in Q1 2022. Revenues surged to $622 million from $509 million. The results included a non-cash gain of $11.5 million from exiting Canadian operations. The company raised its 2022 consolidated Adjusted EBITDA forecast to exceed $600 million and adjusted capex to $390 million. Average rig count in the U.S. increased to 121, expected to rise to 128 in Q3.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) will hold a conference call on July 28, 2022, at 9:00 a.m. CT to discuss its second-quarter results for the period ended June 30, 2022. Participants can join the call by dialing (646) 960-0676 or (888) 550-5422 and using the Conference ID 3822955. The call will also be available via webcast on the company's investor website, with a replay accessible for two weeks.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) reported an average of 124 drilling rigs operating in the U.S. for June 2022, with an average of 121 rigs for the three-month period ending June 30, 2022. These figures represent revenue-generating drilling rigs under contract. The company plans to continue monthly updates on drilling activity. Patterson-UTI cautions that various factors can influence operating results and that rig count trends may not directly reflect financial performance.

Patterson-UTI Energy (NASDAQ:PTEN) will participate in the J.P. Morgan 2022 Energy, Power & Renewables Conference on June 23, 2022. Key executives, including CEO Andy Hendricks and CFO Andy Smith, will represent the company. Hendricks is scheduled for a fireside chat at 1:35 p.m. ET. Investors can access the webcast through the company's investor relations site. Patterson-UTI provides essential oilfield services, including contract drilling and pressure pumping, to the oil and natural gas industry in the U.S. and select countries.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) reported an average of 121 drilling rigs operating in the U.S. for May 2022, maintaining an average of 120 rigs for the two months ending May 31, 2022. The company emphasized that average rig numbers may not directly correlate with financial performance and will continue to provide monthly updates on drilling operations. The press release includes a cautionary statement regarding forward-looking statements, highlighting various risks affecting the company’s future operations and performance.

Patterson-UTI Energy (NASDAQ:PTEN) reported an average of 118 drilling rigs operating in the U.S. for April 2022. This figure represents active rigs earning revenue under contract. The company cautioned that while rig count trends can provide insights, they do not directly correlate with overall financial performance. Patterson-UTI continues its monthly updates on drilling activity. The company is a prominent provider of oilfield services, including contract drilling and pressure pumping, with operations in the U.S. and select international markets.