Welcome to our dedicated page for PATTERSON UTI ENERGY SEC filings (Ticker: PTEN), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Patterson-UTI Energy Inc. filings document operating results, financing arrangements, governance matters, and capital-structure disclosures for an oilfield services company focused on drilling and well completion markets. Form 8-K reports include quarterly results, dividend disclosures, material agreements, credit agreement amendments, and direct financial obligations tied to revolving credit commitments.
Proxy materials describe annual meeting proposals, board matters, executive compensation, equity awards, and shareholder voting procedures. Other filings record director changes and related governance disclosures, alongside formal exhibits such as press releases, credit agreement amendments, and other material-event documentation.
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.
Patterson-UTI Energy Inc. Schedule 13G shows Dimensional Fund Advisors reports beneficial ownership of 21,211,576 shares of common stock, representing 5.6% of the class as of 03/31/2026. The filing states Dimensional furnishes investment advice to funds that own these shares and disclaims direct beneficial ownership.
Patterson-UTI Energy Inc: The Vanguard Group filed Amendment No. 12 to its Schedule 13G/A reporting 0 shares beneficially owned, representing 0% of common stock after an internal realignment described in the filing.
The filing states the internal realignment occurred on January 12, 2026 and that certain Vanguard subsidiaries will report ownership separately going forward. The amendment is signed by Ashley Grim on 03/27/2026.
Patterson-UTI Energy director Robert Wayne Drummond Jr reported an open-market sale of 164,775 shares of common stock at a weighted average price of $10.18 per share. The shares were sold through trust accounts for which he serves as trustee and were held indirectly.
Following these transactions, he no longer reports indirect holdings from those trusts but continues to own 1,512,947 Patterson-UTI Energy common shares directly. This filing shows a net reduction in his overall exposure while maintaining a substantial direct position in the company.
PTEN notice: a Form 144 filing discloses a proposed/previous sale of Common shares by Robert W. Drummond Jr. The filing shows 400,000 Common shares sold on 03/13/2026 for $3,268,400. The record also lists Restricted Stock Units acquired as compensation on 09/01/2023 of 99,775 and 65,000 shares.
Patterson-UTI Energy director Tiffany Thom Cepak reported an open-market sale of common stock. On March 4, 2026, she sold 12,000 shares of Patterson-UTI Energy common stock at a weighted average price of $8.86 per share, in multiple transactions between $8.86 and $8.88. After this sale, she directly owned 161,111 shares of Patterson-UTI Energy common stock.