UPDATE 1-Patterson-UTI Q2 beats view on higher rig utilization

* Q2 adj EPS $0.11 vs est $0.06

* Q2 rev $307 mln vs est $304.6 mln

* Q2 utilization levels jumped over last year

July 29 (Reuters) - Patterson-UTI Energy Inc (PTEN.O) reported an adjusted quarterly profit beating analysts' estimates, helped by higher rig utilization levels. "We are continuing to see increases in rig counts for our U.S. land drilling operations along with a seasonal rebound in Canadian activity," Chief Executive Douglas Wall said in a statement.

For the second quarter, net income was $29.5 million, or 19 cents a share, compared with a loss of $17.7 million, or 12 cents a share, last year.

Excluding items, earnings were 11 cents a share.

Analysts on average had estimated earnings of 6 cents a share, according to Thomson Reuters I/B/E/S.

Total revenue for the quarter rose to $307 million, beating analysts' view of $304.6 million.

The company had 14,186 operating days for the quarter, much higher than 5,720 operating days reported last year.

Shares of the company closed at $15.91 Wednesday on Nasdaq. (Reporting by Thyagaraju Adinarayan in Bangalore; Editing by Don Sebastian)