Sector: Energy | Industry: Oil & Gas Drilling |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 10713 West Sam Houston Parkway North Suite 800 HOUSTON TX 77064 |
Tel: | N/A |
Website: | https://patenergy.com |
IR: | See website |
Key People | ||
William Andrew Hendricks President, Chief Executive Officer, Director | C. Andrew Smith Chief Financial Officer, Executive Vice President | Matthew R. Gillard President - NexTier Completions |
James M. Holcomb Chief Operating Officer - Patterson-UTI | Kenneth N. Berns Executive Vice President, Chief Commercial Officer | Seth D. Wexler Senior Vice President, General Counsel, Secretary |
Business Overview |
Patterson-UTI Energy, Inc. is a provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling services, integrated well completion services and directional drilling services in the United States. The Company operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Drilling Services segment consists of contract drilling, directional drilling, oilfield technology and electrical controls and automation businesses. It provides contract drilling services to oil and natural gas operators in the United States and Colombia. Its Completion Services segment consists of well completion business, which includes hydraulic fracturing, wireline and pumping, completion support, cementing and pressure pumping business. The Drilling Products segment includes manufacturing and distribution of drill bits business. |
Financial Overview |
For the three months ended 31 March 2024, Patterson-UTI Energy, Inc. revenues increased 91% to $1.51B. Net income decreased 49% to $51.2M. Revenues reflect Completion Services segment increase from $293.3M to $945M, Drilling Products segment increase from $0K to $90M. Net income was offset by Depreciation increase from $128.2M to $275M (expense), Selling, general and administrative increase from $30.6M to $65M (expense). |
Employees: | 10,600 as of Jan 31, 2024 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $5,640M as of Mar 31, 2024 |
Annual revenue (TTM): | $4,865M as of Mar 31, 2024 |
EBITDA (TTM): | $1,308M as of Mar 31, 2024 |
Net annual income (TTM): | $197.85M as of Mar 31, 2024 |
Free cash flow (TTM): | $296.76M as of Mar 31, 2024 |
Net Debt Last Fiscal Year: | $1,097M as of Mar 31, 2024 |
Shares outstanding: | 401,701,388 as of May 1, 2024 |
Index Membership: | S&P 600 Small Cap |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |