Patterson-Uti Energy Inc SEC Filings

Patterson-UTI Energy, Inc. Schedule 13G/A amendment shows a group of Blackstone-related reporting persons filing an exit statement as of March 31, 2026. The filing states BEP Diamond Aggregator L.P. directly holds 5,036,630 shares and BEP Diamond Topco L.P. has sole voting power and shared dispositive power with respect to 2,102,773 shares held in escrow under the Agreement and Plan of Merger. The filing cites 379,575,200 shares outstanding as of February 4, 2026 and states the Reporting Persons no longer beneficially own more than five percent of the class.

Robert W. Drummond Jr. reported a proposed sale and prior transactions involving common stock of PTEN. The filing lists a sale of $3,268,400 for 400,000 shares on 02/13/2026. It also reports restricted stock units acquired as compensation on 09/01/2023 totaling 99,775 and 65,000 shares.

The notice is a Rule 144/A submission listing the securities and recent sale activity; the document records acquisition dates and quantities but does not state any planned future sales or proceeds recipient details beyond the sale record.

Patterson-UTI Energy Inc ownership filing: Vanguard Capital Management reports beneficial ownership of 19,259,019 shares of Common Stock, representing 5.07% of the class. The filing states Vanguard has sole dispositive power over 19,259,019 shares and sole voting power over 2,638,211 shares. The filing is signed by a Vanguard officer and dated 04/30/2026.

Patterson-UTI Energy Inc: Schedule 13G filing showing a 7.16% passive stake. Vanguard Portfolio Management reports beneficial ownership of 27,192,996 shares of common stock as of 03/31/2026, with 133,438 shares of sole voting power and sole dispositive power over all 27,192,996 shares. The filing is signed on 04/29/2026.

Patterson-UTI Energy, Inc. reported a net loss for the quarter ended March 31, 2026 as softer activity and pricing weighed on results. Operating revenues were $1.12 billion, down from $1.28 billion a year earlier, with declines across drilling services, completion services and drilling products.

The company posted a net loss attributable to common stockholders of $24.6 million, or $(0.06) per share, versus net income of $1.0 million in the prior-year quarter. Cash provided by operating activities was $63.9 million, supporting capital expenditures of $116.6 million and a quarterly dividend of $0.10 per share.

At quarter-end, Patterson-UTI had $337.2 million of cash and cash equivalents, total assets of $5.36 billion and long-term debt of $1.23 billion. The company reported U.S. contract drilling backlog of about $260 million and maintained an undrawn $500 million revolving credit facility, later extended in April 2026 for most commitments.

Patterson-UTI Energy, Inc. entered into an Assignment and Amendment No. 1 to its Second Amended and Restated Credit Agreement. The change extends the maturity date for $450 million of revolving credit commitments from January 31, 2030 to January 31, 2031, giving the company an additional year of access to this portion of its credit facility.

The amendment also reallocates $25 million of revolving credit commitments from HSBC Bank USA, N.A. to JPMorgan Chase Bank, N.A. The underlying credit agreement remains in place with Wells Fargo Bank, National Association serving as administrative agent and with existing lenders and letter of credit issuers.

Patterson-UTI Energy reported a net loss for the quarter ended March 31, 2026, despite solid activity across its businesses. Total revenue was $1.12 billion, and net loss attributable to common stockholders was $25 million, or $(0.06) per diluted share. Adjusted EBITDA was $205 million, highlighting stronger cash-generation metrics than GAAP earnings alone.

Drilling Services revenue was $352 million with adjusted gross profit of $134 million, supported by 8,301 U.S. operating days and about 92 rigs working. Completion Services delivered $680 million of revenue and $98 million of adjusted gross profit, with high utilization but some winter storm disruption. Drilling Products revenue was $80 million with adjusted gross profit of $33 million, though Middle East activity faced higher costs and some disruption.

Management expects a second-quarter market inflection as improved commodity prices support higher U.S. activity. Guidance calls for an average U.S. rig count of roughly 90 rigs in Drilling Services and adjusted gross profit of about $130 million there, and about $105 million of adjusted gross profit in Completion Services. The company continues to emphasize investments in equipment and digital technology and declared a quarterly dividend of $0.10 per share, payable on June 15, 2026 to holders of record on June 1, 2026.

Patterson-UTI Energy, Inc. is asking stockholders to vote at its June 4, 2026 annual meeting on director elections, auditor ratification, an amendment to its 2021 Long-Term Incentive Plan, and an advisory vote on executive pay. Stockholders of record as of April 10, 2026 may vote by internet, phone, mail or in person.

The company seeks approval to add 28,900,000 shares to the 2021 Long-Term Incentive Plan, on top of 9,372,194 shares remaining available as of April 1, 2026. Management notes this would raise equity award overhang from 4.8% to 11.3%, and argues additional shares are needed to continue equity-based incentives for roughly 400 employees and directors.

The Board highlights an independent chair and vice chair, committee-based risk oversight (including reassigned sustainability oversight after dissolving the Sustainability Committee), and formal policies on director independence, succession planning, insider trading, diversity and inclusion, and clawbacks. It recommends voting “FOR” all four main proposals.