Patterson-UTI Energy, Inc. (OQ:PTEN)
Business Focus: Oil & Gas Drilling
| Sector: Energy | Industry: Oil & Gas Drilling |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 10713 West Sam Houston Parkway North Suite 800 HOUSTON TX 77064 |
| Tel: | N/A |
| Website: | https://patenergy.com |
| IR: | See website |
| Key People | ||
| William Andrew Hendricks President, Chief Executive Officer, Director | Robert W. Drummond Vice Chairman of the Board | C. Andrew Smith Chief Financial Officer, Executive Vice President |
| James M. Holcomb Chief Operating Officer - Patterson-UTI | Kenneth N. Berns Executive Vice President, Chief Commercial Officer | Seth D. Wexler Senior Vice President, General Counsel, Secretary |
| Business Overview |
| Patterson-UTI Energy, Inc. is a provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling services, integrated well completion services and directional drilling services in the United States. The Company operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Drilling Services segment consists of contract drilling, directional drilling, oilfield technology and electrical controls and automation businesses. It provides contract drilling services to oil and natural gas operators in the United States and Colombia. Its Completion Services segment consists of well completion business, which includes hydraulic fracturing, wireline and pumping, completion support, cementing and pressure pumping business. The Drilling Products segment includes manufacturing and distribution of drill bits business. |
| Financial Overview |
| For the fiscal year ended 31 December 2023, Patterson-UTI Energy, Inc. revenues increased 57% to $4.15B. Net income increased 59% to $246.3M. Revenues reflect Completion Services segment increase of 97% to $2.02B, Drilling Services segment increase of 25% to $1.98B. Net income benefited from Interest Income increase from $360K to $6.1M (income), Other increase from $3.3M (expense) to $1.9M (income). |
| Employees: | 10,600 as of Jan 31, 2024 |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | $5,408M as of Mar 31, 2024 |
| Annual revenue (TTM): | $4,146M as of Mar 31, 2024 |
| EBITDA (TTM): | $1,188M as of Mar 31, 2024 |
| Net annual income (TTM): | $246.29M as of Mar 31, 2024 |
| Free cash flow (TTM): | $290.19M as of Mar 31, 2024 |
| Net Debt Last Fiscal Year: | $1,101M as of Mar 31, 2024 |
| Shares outstanding: | 403,251,901 as of Apr 10, 2024 |
| Index Membership: | S&P 600 Small Cap |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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