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Patterson-UTI Energy(PTEN) - 2024 Q2 - Quarterly Results
PTENPatterson-UTI Energy(PTEN)2024-07-25 00:13

Management Commentary • Total revenue of 1.3billionWithintheDrillingServicessegmentforthesecondquarter,U.S.ContractDrillingrevenuewas1.3 billion Within the Drilling Services segment for the second quarter, U.S. Contract Drilling revenue was 378 million, and adjusted gross profit was 168million,withthesegmentbeatingourexpectationsonaslightincreaseinrevenueperdayandadjustedgrossprofitperoperatingday.U.S.operatingdaystotaled10,388,withactivityinlinewithourexpectation.TheaveragerigrevenueperoperatingdayinU.S.ContractDrillingwas168 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 ...