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Patterson-UTI Energy Inc (PTEN.OQ)

PTEN.OQ on NASDAQ Stock Exchange Global Select Market

20.62USD
14 Dec 2017
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Latest Key Developments (Source: Significant Developments)

Patterson-UTI Energy Q3 loss per share $0.16
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - Patterson-UTI Energy Inc :Patterson-UTI Energy reports financial results for three and nine months ended September 30, 2017.Q3 loss per share $0.16.Q3 revenue $685 million versus I/B/E/S view $687.6 million.Q3 earnings per share view $-0.18 -- Thomson Reuters I/B/E/S.Patterson-UTI Energy Inc - ‍averaged 161 operating rigs during quarter compared to 146 during Q2​.Patterson-UTI -Q3 ‍average rig margin/day up $1,010 sequentially to $7,730 due primarily to $960/day decrease in average rig operating costs to $12,600​.Patterson-UTI Energy inc - ‍based on contracts currently in place, expect an average of 87 rigs operating under term contracts during q4​.Patterson-UTI says qtrly ‍average rig margin/day increased sequentially to $7,730 due to $960/day decrease in average rig operating costs to $12,600​.Patterson-UTI Energy says ‍plan to reactivate one additional frac spread during Q4, bringing its active frac fleet at end of year to 23 active spreads​.  Full Article

Patterson-UTI Energy and Seventy Seven Energy to merge
Tuesday, 13 Dec 2016 

Patterson-UTI Energy Inc : Says Patterson-UTI expects to achieve synergies in excess of $50 million from deal . Says will acquire Seventy Seven Energy in exchange for approximately 49.6 million shares of common stock of Patterson-UTI . Says all of Seventy Seven Energy's debt is expected to be repaid at closing of transaction. . Says terms of merger agreement were unanimously approved by boards of directors of both companies . Says transaction values Seventy Seven Energy at approximately $1.76 billion . Says also expects to issue additional equity in connection with closing transaction .Patterson-UTI energy and seventy seven energy announce agreement to merge.  Full Article

Patterson-UTI Energy Q2 loss per share $0.58
Thursday, 28 Jul 2016 

Patterson-uti Energy Inc : Total average rig operating costs per day during Q2 increased to $12,770 from $12,150 in Q1 . UTI energy - expect average of 45 rigs operating under term contracts in q3, average of 42 rigs operating under term contracts in h2 2016 . UTI energy reports financial results for three and six months ended june 30, 2016 . Q2 loss per share $0.58 . Q2 revenue $194 million versus I/B/E/S view $192.8 million . Q2 earnings per share view $-0.63 -- Thomson Reuters I/B/E/S . UTI Energy - rig count in q2 averaged 55 rigs in U.S. And less than one rig in Canada versus q1 average of 71 rigs in U.S. And 3 rigs in Canada . Says rig count during Q2 averaged 55 rigs in united states compared to q1 average of 71 rigs in united states .For month Of July, we expect our average rig count will be 56 rigs in United States and two rigs in Canada.  Full Article

Patterson-UTI Energy amends its bank credit agreement
Tuesday, 12 Jul 2016 

Patterson-UTI Energy Inc : Patterson-UTI Energy amends its bank credit agreement . Amended its $500 million senior unsecured revolving credit agreement . Patterson-UTI Energy Inc - amended its $500 million senior unsecured revolving credit agreement . When borrowing base is determined based on July 31 balances, co expects borrowing base to be approximately $360 million . Patterson-UTI - ameded to extend maturity date of $357.9 million in revolving credit commitments of certain lenders from Sept 27, 2017 to March 27, 2019 . Patterson-UTI Energy - amendment to extend maturity date of $357.9 million in revolving credit commitments from September 27, 2017 to March 27, 2019 .Patterson-UTI- Amendment so that borrowings will bear interest until Sept 27, 2017 at either eurodollar rate plus margin ranging from 2.75 pct to 3.25 pct.  Full Article

Patterson-UTI Energy sees 2016 capex $170 mln vs reported capex $744 mln in 2015
Tuesday, 24 May 2016 

Patterson-UTI Energy Inc :As of April 28, expects 2016 capital expenditures of $170 million versus reported capex of $744 million in 2015.  Full Article

BRIEF-Patterson-UTI Reports Drilling Activity For November 2017

* PATTERSON-UTI ENERGY INC - ‍ FOR MONTH OF NOVEMBER 2017, COMPANY HAD AN AVERAGE OF 161 DRILLING RIGS OPERATING​ Source text for Eikon: Further company coverage: