We had $48.0 million of outstanding letters of credit at June 30, 2024, which was comprised of $43.8 million outstanding under the Reimbursement Agreement, $2.3 million outstanding under the Credit Agreement, and $1.9 million outstanding with financial institutions providing for short-term borrowing capacity, overdraft protection and bonding requirements. We maintain these letters of credit primarily for the benefit of various insurance companies as collateral for retrospective premiums and retained losses ...

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Q2 2024 Earnings Conference Call July 25, 2024 10:00 AM ET Company Participants Michael Sabella - VP, IR William Hendricks - President, CEO & Director Andy Smith - CFO & EVP Conference Call Participants Jim Rollyson - Raymond James Arun Jayaram - JPMorgan Derek Podhaizer - Barclays Scott Gruber - Citigroup Luke Lemoine - Piper Sandler Stephen Gengaro - Stifel Jeffrey LeBlanc - TPH Keith MacKey - RBC Capital Markets Saurabh Pant - Bank of America Sean Mitchell - Danie ...

Management Commentary • Total revenue of $1.3 billion Within the Drilling Services segment for the second quarter, U.S. Contract Drilling revenue was $378 million, and adjusted gross profit was $168 million, with the segment beating our expectations on a slight increase in revenue per day and adjusted gross profit per operating day. U.S. operating days totaled 10,388, with activity in line with our expectation. The average rig revenue per operating day in U.S. Contract Drilling was $36,430 in the quarter, a ...

The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 24. On the other hand, if they miss, the stock may move lower. This provider of onshore contract drilling services is expected to post quarterly earnings of $0.09 per share in its upcoming report, which represents a year-over-year change of -79.6%. The consensus EPS estimate for the quarter has been revised 8.04% lower over the last 30 days to the current level. This is ...

Highlights of Q1 Earnings The Zacks Consensus Estimate for second-quarter 2024 earnings has witnessed no upward revision and one downward movement in the past 30 days. The estimated figure indicates a 79.55% year-over-year decline. The Zacks Consensus Estimate for revenues indicates an increase of 86.6% from the year-ago period. What Does Our Model Say? Stocks to Consider TechnipFMC (FTI) has an Earnings ESP of +4.17% and a Zacks Rank #3. The firm is scheduled to release earnings on Jul 25. Baker Hughes is ...

Patterson-UTI Energy, Inc. (PTEN) disclosed a significant development involving its subsidiary, Patterson-UTI International Holdings, Inc. The subsidiary has entered into a non-binding term sheet with ADNOC Drilling, a subsidiary of Abu Dhabi National Oil Company (“ADNOC”). Subject to definitive agreements and regulatory approvals, Patterson-UTI expects to acquire a minority equity interest in Turnwell Industries LLC OPC, a company newly established by ADNOC Drilling. Additionally, Abu Dhabi-based oil and g ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ Form 10-Q ______________________ þ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-39270 ______________________ Patterson-UTI Energy, Inc. (Exact name of regist ...

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) Q1 2024 Earnings Conference Call May 2, 2024 10:00 AM ET Company Participants Mike Sabella - VP, IR Andy Hendricks - President, CEO & Director Andy Smith - CFO & EVP Conference Call Participants Luke Lemoine - Piper Sandler Jim Rollyson - Raymond James Scott Gruber - Citigroup Alexa Petrick - Goldman Sachs Derek Podhaizer - Barclays Capital Arun Jayaram - JPMorgan Stephen Gengaro - Stifel Saurabh Pant - Bank of America Merrill Lynch Waqar Syed - ATB Capital Markets K ...

Exhibit 99.1 Contact: Michael Sabella Vice President, Investor Relations (281) 885-7589 Patterson-UTI Energy Reports Financial Results for the Quarter Ended March 31, 2024 HOUSTON, Texas – May 1, 2024 – PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported financial results for the quarter ended March 31, 2024. First Quarter 2024 Financial Results and Other Key Items • Total revenue of $1.5 billion • Net income attributable to common stockholders of $51 million, or $0.13 per share ◦ Includes $12 million ...

Commission File Number 1-39270 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Patterson-UTI Energy, Inc. (Exact name of registrant as specified in its charter) | Delaware | 75-2504748 | | --- | --- | | (Stat ...