Highest-materiality recent filing
Patterson-UTI Q2 revenue $1.2B, net loss $20M; sees Q3 growth in drilling and completion
Q2 total revenue $1.2B (+10% sequentially); net loss $20M; adjusted net income $1M.
Patterson-UTI redeems $482.5M of 3.95% notes, shareholders approve 28.9M share increase in LTIP
Redeemed all $482.5M of 3.95% Senior Notes due 2028 at par plus accrued interest.
Patterson-UTI issues $500M of 6.050% Senior Notes due 2036 to refinance 2028 notes
Issued $500M aggregate principal of 6.050% Senior Notes due May 15, 2036.
Patterson-UTI Energy prices $500M 6.050% Senior Notes due 2036, to redeem 2028 notes
Issued $500M of 6.050% Senior Notes due 2036; net proceeds to redeem $482.5M of 3.95% 2028 Notes.
Patterson-UTI Q1 net loss $25M on $1.1B revenue; Q2 guide sees rig reactivations
Q1 net loss $25M; adjusted EBITDA $205M; revenue $1.1B.
Patterson-UTI Q4 rev $1.2B, net loss $9M, raises dividend 25% to $0.10
Q4 2025 total revenue $1.2B; net loss $9M; adjusted EBITDA $221M.
Patterson-UTI Q3 net loss $36M, adj EBITDA $219M; guides Q4 adj gross profit down
Revenue $1.2B; net loss $36M ($0.08/sh); adj net loss $21M.
Patterson-UTI Q2 2025 net loss $49M, Adj. EBITDA $231M, revenue $1.2B
Net loss of $49M includes $28M impairment of Colombian operations; Adj. EBITDA $231M.
Q1 2025 revenue $1.3B, net income $1M; adjusted EBITDA $251M; Q2 guidance steady
Total revenue $1.3B, net income $1M, adjusted EBITDA $251M; cash from operations not disclosed.
Patterson-UTI Q4 net loss $52M, adj EBITDA $225M; FY 2025 capex guided ~$600M
Total revenue $1.2B; net loss $0.13/share incl. $3M merger expenses.
Patterson-UTI posts Q3 net loss of $979M on $1.4B revenue; goodwill impairment $885M
Net loss $979M ($2.50/share) includes $885M goodwill impairment and $114M asset retirement charge; adjusted net income $2M ($0.00/share).
Patterson-UTI to take 15% stake in ADNOC Drilling JV for 144-well unconventional project
Patterson-UTI subsidiary signs JV agreement; will hold 15% minority equity in Turnwell, formed by ADNOC Drilling.
Patterson-UTI signs term sheet with ADNOC Drilling for $1.7B unconventional well project in UAE
Patterson-UTI subsidiary signs non-binding term sheet to take minority equity stake in Turnwell Industries LLC OPC, formed by ADNOC Drilling.
Net income $51M ($0.13 EPS); adjusted net income $61M ($0.15 EPS); includes $12M merger costs.
Patterson-UTI Q4 2023: revenue $1.58B, adj. EPS $0.19; plans $400M+ shareholder returns in 2024
Net income $62M ($0.15 diluted); adjusted net income $78M ($0.19) excluding $20M merger costs.
Patterson-UTI Q3 rev $1.0B, adj EPS $0.20; Q4 guidance implies big growth from acquisitions
Q3 total revenue $1.0B; net income $0.1M ($0.00 EPS); adjusted net income $55M ($0.20 EPS); adjusted EBITDA $277M.
Patterson-UTI Energy issues $400M 7.15% senior notes due 2033
$400M aggregate principal amount of 7.15% Senior Notes due 2033 issued on Sept 13, 2023.
Patterson-UTI completes NexTier merger; expects $200M annual synergies within 18 months
Merger closed: each NexTier share converted to 0.7520 PTEN shares; combined co. has 172 super-spec rigs and 3.3M frac HP.
Patterson-UTI supplements proxy with DCF ranges; merger lawsuit filed
Patterson-UTI voluntarily supplements proxy to address stockholder lawsuit alleging disclosure deficiencies in merger voting materials.
Patterson-UTI closes acquisition of Ulterra for $370M cash and 34.9M shares
Total consideration includes $370M cash and 34.9M shares of PTEN common stock.
Patterson-UTI and NexTier clear HSR waiting period for pending all-stock merger
HSR Act waiting period expired July 27, 2023, satisfying one key closing condition for the merger.
Patterson-UTI Q2 net income $84.6M ($0.40/share), revenue $759M; cuts 2023 capex to $485M
Net income of $84.6M ($0.40 diluted EPS) vs. $99.7M ($0.46) in Q1; revenue fell 4% to $759M.
Patterson-UTI provides Ulterra 2022 audited & Q1 2023 unaudited financials for pending mergers
Ulterra 2022 revenue $370M, net income $29M; total assets $647M as of Dec 31, 2022.
Patterson-UTI acquires Ulterra for $370M cash + 34.9M shares; Q3 close expected
Acquires Ulterra, a leading PDC drill bit provider, for $370M cash and 34.9M shares of PTEN common stock.
Patterson-UTI to merge with NexTier in all-stock deal; combined enterprise value $5.4B
All-stock merger of equals; PTEN shareholders own 55%, NexTier 45%; exchange ratio 0.7520.
Patterson-UTI and NexTier to merge in all-stock merger of equals, approx $5.4B enterprise value
Exchange ratio: 0.7520 PTEN shares per NEX share; PTEN holders own ~55%, NEX ~45% on fully diluted basis.
Patterson-UTI Q1 net income $99.7M ($0.46 EPS), revenue $792M; free cash flow $117M
Revenue $792M, net income $99.7M ($0.46 diluted EPS); same EPS as Q4 2022.
On April 3, 2025, the Board of Directors of Patterson-UTI Energy, Inc. (the “Company”) approved the appointment of Forrest Robinson, 41, to the position of Chief Accounting Officer, effective immediately.
Pursuant to the Holcomb Agreement, Mr. Holcomb will continue in his role as Executive Vice President and Chief Business Officer of the Company until (i) December 31, 2026 (if Mr. Holcomb so elects and provides at least three months’ prior notice to the Company), or (ii) December 31, 2027 (as applicable, the “Transition Date”). From the Transition Date through September 30, 2030, Mr. Holcomb has agreed to serve as a non-executive advisor
Robert W. Drummond, Gary M. Halverson, Amy H. Nelson, Leslie A. Beyer and James C. Stewart, each a former member of the NexTier board of directors who has been appointed to the Board
Robert W. Drummond, Gary M. Halverson, Amy H. Nelson, Leslie A. Beyer and James C. Stewart, each a former member of the NexTier board of directors who has been appointed to the Board
Mr. Drummond was appointed to serve as Vice Chairman of the Board.
Robert W. Drummond, Gary M. Halverson, Amy H. Nelson, Leslie A. Beyer and James C. Stewart, each a former member of the NexTier board of directors who has been appointed to the Board
Robert W. Drummond, Gary M. Halverson, Amy H. Nelson, Leslie A. Beyer and James C. Stewart, each a former member of the NexTier board of directors who has been appointed to the Board
each of Michael W. Conlon and Terry Hunt delivered a letter effectuating his resignation as a director of Patterson-UTI and, as of the Effective Time, ceased to be a director of Patterson-UTI.
each of Michael W. Conlon and Terry Hunt delivered a letter effectuating his resignation as a director of Patterson-UTI and, as of the Effective Time, ceased to be a director of Patterson-UTI.
Robert W. Drummond, Gary M. Halverson, Amy H. Nelson, Leslie A. Beyer and James C. Stewart, each a former member of the NexTier board of directors who has been appointed to the Board
On January 1, 2023, Patterson-UTI Energy, Inc. (“Patterson-UTI”) appointed James M. Holcomb, 60, as the Chief Operating Officer of Patterson-UTI.
On April 1, 2022, Patterson-UTI Energy, Inc. (the "Company") appointed Julie J. Robertson and Cesar Jaime to the Company’s Board of Directors.
Max materiality 0.90 · Median 0.60 · Most common event earnings