Patterson-UTI Energy Inc - Company Profile
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Business Description
Patterson-UTI Energy Inc (Patterson) provides oilfield services and products to oil and gas exploration and production companies in North America. The company operates through three reportable business segments, drilling services, completion services and drilling products. Its Other Operations include oilfield rental tools business, pipe handling components and related technology business, oil and natural gas working interests and the Middle East/North Africa activities. In FY2023, the company’s capital expenditure stood at US$615.69 million which was 14.8% of the total revenue and grew 40.9%. The company owned 192 land based drilling rigs in the US and Columbia by the end of FY2023.
Business Segments
Overview
Includes revenue from well completion business along with hydraulic fracturing, wireline and pumping, completion support, cementing and its legacy pressure pumping business. Operates power solutions natural gas fueling business and proppant last mile logistics and storage business. The company’s completion services business operates in several of the most active basins in the continental United States, including the Permian, the Marcellus Shale/Utica, the Eagle Ford, Mid-Continental, Haynesville, and the Bakken/Rockies In FY2023, the segment incurred a capital expenditure of US$214.746 million, which grew 55.7% YoY.
Performance
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Overview
Includes manufacturing and distribution of drill bits. Offers its drilling equipment to oil and natural gas exploration along with production and mining operations In FY2023, the segment incurred a capital expenditure of US$24.572 million.
Performance
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Overview
Offers contract drilling, directional drilling, oilfield technology, electrical controls, and automation. The segment operates in the continental United States and internationally in Colombia. Offers a comprehensive drilling service in most major onshore oil and natural gas basins. In FY2023, the segment incurred a capital expenditure of US$334.78 million, which grew 22.8% YoY.
Performance
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Overview
Includes oilfield rentals and income from working interest in oil and natural gas assets located in Texas and New Mexico. In FY2023, the segment incurred a capital expenditure of US$24.645 million, which declined 2.3% YoY.
Performance
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Geographical Segments
Performance
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Performance
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Performance
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