Patterson-UTI Energy Inc - Company Profile
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Patterson-UTI Energy Inc (Patterson) is a provider of oilfield services. It offers onshore contract drilling and pressure pumping services, directional drilling, rental equipment, and oilfield technology to oil and gas exploration and production companies. The company offers pressure pumping services such as well stimulation and cementing for the completion of new wells and remedial work on existing wells. Patterson operates land-based drilling rigs mainly in oil and natural gas producing regions of the continental US and Colombia. It also owns a non-operating working interest in oil and natural gas assets in Texas and New Mexico. Patterson is headquartered in Houston, Texas, the US.
Headquarters
United States of America
Address
10713 West Sam Houston Parkway North, Suite 800, Texas, 77064
Website
patenergy.com
Telephone
1 281 7657100
No of Employees
10,600
Industry
Energy and Utilities
Ticker Symbol & Exchange
PTEN (NASD)
Revenue (2022)
$4.1B
56.6%
(2022 vs 2021)
EPS
XYZ
Net Income (2022)
XYZ
59.2%
(2022 vs 2021)
Market Cap*
$4.5B
Net Profit Margin (2022)
XYZ
1.7%
(2022 vs 2021)
* As of and is in US$
Products and Services
| Products | Services |
|---|---|
| Pipe handling components and related technology | Well Stimulation |
| Cementing | |
| Contract Drilling | |
| XYZ | |
| XYZ | |
| XYZ |
History
History section provides information on new products, mergers, acquisitions, expansions, approvals, and many more key events.
| Year | Event | Description |
|---|---|---|
| 2023 | Acquisitions/Mergers/Takeovers | In September, the company merged with NexTier Oilfield Solutions. |
| 2023 | Acquisitions/Mergers/Takeovers | In August, the company acquired Ulterra Drilling Technologies, L.P. |
| 2023 | Others | In June, the company and NexTier Oilfield Solutions paused a possible merger. |
Competitor Comparison
| Key Parameters | Patterson-UTI Energy Inc | NOV Inc | TechnipFMC Plc | EQT Corp | Liberty Energy Inc |
|---|---|---|---|---|---|
| Headquarters | United States of America | United States of America | United Kingdom | United States of America | United States of America |
| City | Houston | Houston | London | Pittsburgh | Denver |
| State/Province | Texas | Texas | England | Pennsylvania | Colorado |
| No. of Employees | 10,600 | 33,676 | 22,762 | 881 | 5,500 |
| Entity Type | Public | Public | Public | Public | Public |
Key Financial Charts
Sales Growth
Net Income Growth
Executives
| Name | Position | Board | Since | Age |
|---|---|---|---|---|
| Curtis W. Huff | Chairman | Executive Board | 2020 | 65 |
| William Andrew Hendricks, Jr. | President; Director; Chief Executive Officer | Executive Board | 2017 | 58 |
| C. Andrew Smith | Chief Financial Officer; Executive Vice President | Senior Management | 2017 | 51 |
| James M. Holcomb | Chief Operating Officer | Senior Management | 2023 | - |
| Kenneth N. Berns | Executive Vice President; Chief Commercial Officer | Senior Management | 2017 | 63 |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
| Non Dignissim Eros | Proin vel | Convallis | 2024 | XY |
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