Patterson-UTI Energy Inc (PTEN) News & EventsPTENPatterson-UTI Energy Inc

Patterson-UTI Reports Q2 Revenue of $1.2B, Beating Expectations

Reports Q2 revenue $1.2B, consensus $1.15B. "We delivered a strong quarter, with a positive inflection in activity and momentum building across each of our businesses as we moved through Q2 and into Q3," said CEO Andy Hendricks. "Our team executed very well, customer activity is growing, and the U.S. onshore market is responding to a more constructive commodity price environment. These results reflect the strategic investments we have made to position Patterson-UTI as a premier oilfield services company across each of our core businesses. Importantly, this second quarter performance was achieved without the benefit of the additional growth capital investments announced during the quarter. We expect those investments to support continued growth into 2027 and beyond, while further strengthening our technology leadership."

Patterson-UTI Expects 2026 CapEx of $600M

Patterson-UTI still sees 2026 CapEx $600M

Patterson-UTI Reports Average of 95 Drilling Rigs in June

Patterson-UTI reported that for the month of June, the company had an average of 95 drilling rigs operating in the United States. For the three months ended June 30, the company had an average of 92 drilling rigs operating in the United States.