Company
Patterson-UTI Energy, Inc.
Headquarters: Houston, TX, United States
Founded: 1978
Employees: 5,000
CEO: Mr. William Andrew Hendricks Jr.
Market Cap
$4.52 Billion
USD as of Jan. 1, 2024
Patterson-UTI Energy, Inc. Categories
United States Energy Oil & Gas DrillingUnited States Energy United States Oil & Gas Drilling
Top Competitors by Market Capitalization
Industry: Oil & Gas Drilling
| Company | Market Cap (USD) |
|---|---|
| Transocean Ltd. | $5.02 B |
| Sinopec Oilfield Service Corp | $3.83 B |
| Helmerich & Payne, Inc. | $3.63 B |
| Seadrill Ltd | $3.45 B |
| Drilling Co of 1972 A-S-The | $2.03 B |
Sector:
| Company | Market Cap (USD) |
|---|---|
| Aramco | $2.132 T |
| ExxonMobil | $412.55 B |
| Chevron | $287.56 B |
| Shell | $213.51 B |
| PetroChina | $182.61 B |
Detailed Description
Patterson-UTI Energy, Inc., through its subsidiaries, provides onshore contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Contract Drilling Services, Pressure Pumping Services, and Directional Drilling Services. The Contract Drilling Services segment markets its contract drilling services primarily in west Texas, Appalachia, Rockies, Oklahoma, South Texas, East Texas, and Colombia. As of December 31, 2021, this segment had a drilling fleet of 192 marketable land-based drilling rigs. The Pressure Pumping Services segment offers pressure pumping services that consist of well stimulation for the completion of new wells and remedial work on existing wells, as well as hydraulic fracturing, cementing, and acid pumping services in Texas and the Appalachian region. The Directional Drilling Services segment provides a suite of directional drilling services, including directional drilling and measurement-while-drilling services; supply and rental of downhole performance motors; and software and services that enhances the accuracy of directional and horizontal wellbores, wellbore quality, and on-bottom rate of penetration. It also services equipment to drilling contractors, as well as provides electrical controls and automation to the energy, marine, and mining industries in North America and other markets; and owns and invests in oil and natural gas assets as a non-operating working interest owner located principally in Texas and New Mexico. Patterson-UTI Energy, Inc. was founded in 1978 and is headquartered in Houston, Texas.
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Stocks & Indices
Patterson-UTI Energy, Inc. has the following listings and related stock indices.
Stock: NASDAQ: PTEN wb_incandescent
Stock: FSX: PE1 wb_incandescent
Product & Services
Well drilling
Key People
Mark S. Siegel, Chairman William Andrew Hendricks Jr., President & CEO
Financials
Revenue: US$2.356 billion (2017)
Net income: US$0.006 billion (2017)
Total assets: US$5.758 billion (2017)
Total equity: US$3.982 billion (2017)