OverviewSuggest Edit

Patterson-UTI Energy is an oilfield services company that primarily owns and operates fleets of land-based drilling rigs and a fleet of pressure pumping equipment. The company operates in three segments: contract drilling of oil and natural gas wells, contract drilling of oil and natural gas wells, directional drilling services. Its directional drilling services include directional drilling, downhole performance motors, measurement-while-drilling, wireline steering tools and services. Patterson-UTI Energy also services equipment for drilling contractors and provides electrical controls and automation to the energy, marine, and mining industries.
TypePublic
Founded1978
HQHouston, TX, US
Websitepatenergy.com
Employee Ratings3.4
Overall CultureD

Latest Updates

Employees (est.) (Feb 2020)5,800(-27%)
Job Openings146
Revenue (FY, 2020)$1.1 B(-54%)
Share Price (Sept 2021)$8.3(+3%)
Cybersecurity ratingBMore

Key People/Management at Patterson-UTI Energy

William A. Hendricks

William A. Hendricks

President, Chief Executive Officer & Director
C. Andrew Smith

C. Andrew Smith

Executive Vice President and Chief Financial Officer
Kenneth N. Berns

Kenneth N. Berns

Executive Vice President and Chief Commercial Officer
Seth D. Wexler

Seth D. Wexler

Senior Vice President, General Counsel and Secretary
Curtis W. Huff

Curtis W. Huff

Chairman
Tiffany Thom Cepak

Tiffany Thom Cepak

Director
Show more

Patterson-UTI Energy Office Locations

Patterson-UTI Energy has offices in Houston, Boulder, Canonsburg, Cleburne and in 30 other locations
Houston, TX, US (HQ)
10713 West Sam Houston Pkwy N #800
Boulder, WY, US
3 Larry Lozier Rd
Canonsburg, PA, US
4000 Town Center Blvd #240
Cleburne, TX, US
3205 Windmill Rd
Conroe, TX, US
3335 Pollok Dr
Denver, CO, US
1660 Wynkoop St #1100
Show all (40)

Patterson-UTI Energy Financials and Metrics

Patterson-UTI Energy Revenue

Patterson-UTI Energy's revenue was reported to be $1.12 b in FY, 2020
USD

Revenue (Q2, 2021)

291.8m

Net income (Q2, 2021)

(103.3m)

EBIT (Q2, 2021)

(109.4m)

Market capitalization (15-Sept-2021)

1.6b

Closing stock price (15-Sept-2021)

8.3

Cash (30-Jun-2021)

216.7m

EV

2.3b
Patterson-UTI Energy's current market capitalization is $1.6 b.
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Revenue

2.4b3.3b2.5b1.1b

Revenue growth, %

41%(26%)

Cost of goods sold

1.7b2.4b1.8b

Gross profit

639.1m924.5m697.0m
Quarterly
USDQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020Q3, 2020Q1, 2021Q2, 2021

Revenue

809.2m854.4m867.5m704.2m675.8m598.5m445.9m250.4m207.1m240.9m291.8m

Cost of goods sold

589.0m621.8m634.1m489.3m467.6m453.2m326.6m164.7m141.3m

Gross profit

220.2m232.7m233.4m214.8m208.1m145.2m119.3m85.6m65.9m

Gross profit Margin, %

27%27%27%31%31%24%27%34%32%
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Cash

42.8m245.0m174.2m224.9m

Accounts Receivable

580.4m558.8m339.7m160.2m

Inventories

69.2m65.6m36.4m33.1m

Current Assets

746.9m950.2m631.8m478.0m
Annual
USDFY, 2017FY, 2018FY, 2019FY, 2020

Net Income

5.9m(321.4m)(425.7m)(803.7m)

Depreciation and Amortization

783.3m916.3m1.0b

Accounts Payable

104.1m(69.5m)(77.7m)(48.6m)

Cash From Operating Activities

300.7m730.7m696.2m278.9m
Quarterly
USDFY, 2017

Revenue/Employee

654.6k

Debt/Equity

0.2 x

Debt/Assets

0.2 x

Financial Leverage

1.4 x
Show all financial metrics

Patterson-UTI Energy Operating Metrics

FY, 2017FY, 2018FY, 2019

Drilling Rigs

295252216

Drilling Rigs (Canada)

766

Drilling Rigs (US)

288246210

Wells Drilled Yearly

2.55 k3.09 k2.7 k
Show all operating metrics

Patterson-UTI Energy Acquisitions / Subsidiaries

Company NameDateDeal Size
Superior QCFebruary 21, 2018
Seventy Seven Energy Inc.December 13, 2016$1.8 b
Warrior Rig TechnologiesSeptember 14, 2016
TMBR/ Sharp DrillingFebruary 12, 2004
Jones DrillingNovember 15, 2000$36.2 m
High Valley DrillingApril 03, 2000
Wek DrillingMarch 31, 2000$7.2 m
Ambar IncJanuary 01, 2000
Norton Drilling ServicesJuly 26, 1999
Tejas Drilling FluidsSeptember 17, 1998
Show more

Patterson-UTI Energy Revenue Breakdown

Embed Graph

Patterson-UTI Energy revenue breakdown by business segment: 53.0% from Contract drilling, 35.2% from Pressure pumping, 7.6% from Directional drilling and 4.2% from Other

Patterson-UTI Energy Cybersecurity Score

Cybersecurity ratingPremium dataset

B

83/100

SecurityScorecard logo

Patterson-UTI Energy Online and Social Media Presence

Embed Graph

Patterson-UTI Energy Company Culture

  • Overall Culture

    D

    58/100

  • CEO Rating

    C

    66/100

  • Compensation

    D+

    59/100

Learn more on Comparably

Patterson-UTI Energy News and Updates

Patterson-UTI Reports Drilling Activity for November 2020

PATTERSON-UTI ENERGY today reported that for the month of November 2020, the Company had an average of 61 drilling rigs operating. For the two months ended November 30, 2020, the Company had an average of 61 drilling rigs operating

Oil operators get DUCs in a row, adding fracking crews to boost output

U.S. frackers have been bringing back equipment to boost production even with oil prices languishing around $40 a barrel, tapping into a backlog of drilled wells left uncompleted (DUCs) when oil prices crashed in the spring.

Patterson-UTI Reports Drilling Activity for October 2020

PATTERSON-UTI ENERGY today reported that for the month of October 2020, the Company had an average of 61 drilling rigs operating

Patterson-UTI Energy Reports Financial Results for the Three and Nine Months Ended September 30, 2020

PATTERSON-UTI ENERGY today reported financial results for the three and nine months ended September 30, 2020. The Company reported a net loss of $112 million, or $0.60 per share, for the third quarter of 2020, compared to a net loss of $262 million, or $1.31 per share, for the third quarter of 2019…

Patterson-UTI Reports Drilling Activity for September 2020

PATTERSON-UTI ENERGY today reported that for the month of September 2020, the Company had an average of 60 drilling rigs operating. For the three months ended September 30, 2020, the Company had an average of 60 drilling rigs operating

Patterson-UTI Energy Announces Second Quarter Earnings Conference Call and Webcast

HOUSTON, July 2, 2020 /PRNewswire/ -- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) will hold a conference call on Thursday, July 23, 2020, at 9:00 a.m. Central Time to discuss results for the three and six months ended June 30, 2020. Participants can access the call by dialing (647) 253-8640...
Show more

Patterson-UTI Energy Frequently Asked Questions

  • When was Patterson-UTI Energy founded?

    Patterson-UTI Energy was founded in 1978.

  • Who are Patterson-UTI Energy key executives?

    Patterson-UTI Energy's key executives are William A. Hendricks, C. Andrew Smith and Kenneth N. Berns.

  • How many employees does Patterson-UTI Energy have?

    Patterson-UTI Energy has 5,800 employees.

  • What is Patterson-UTI Energy revenue?

    Latest Patterson-UTI Energy annual revenue is $1.1 b.

  • What is Patterson-UTI Energy revenue per employee?

    Latest Patterson-UTI Energy revenue per employee is $193.8 k.

  • Who are Patterson-UTI Energy competitors?

    Competitors of Patterson-UTI Energy include TAQA Group, Halliburton and Schlumberger.

  • Where is Patterson-UTI Energy headquarters?

    Patterson-UTI Energy headquarters is located at 10713 West Sam Houston Pkwy N #800, Houston.

  • Where are Patterson-UTI Energy offices?

    Patterson-UTI Energy has offices in Houston, Boulder, Canonsburg, Cleburne and in 30 other locations.

  • How many offices does Patterson-UTI Energy have?

    Patterson-UTI Energy has 40 offices.