Edition:
United Kingdom

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​.