Patterson-UTI Energy Inc (PTEN)

Overview

Patterson-UTI Energy, Inc. is a prominent entity in the energy sector, focusing on providing specialized drilling services to oil and natural gas operators both in the United States and internationally. Founded in 1978 and headquartered in Houston, Texas, the company has grown substantially to include a diverse range of services categorized under Drilling Services, Completion Services, and Drilling Products segments. Each of these segments plays a critical role in supporting the complex needs of onshore drilling operations within oil and natural gas basins. Patterson-UTI Energy is recognized for its commitment to quality, safety, and innovation, leveraging its extensive experience and technical expertise to enhance drilling efficiency and effectiveness for its clients.

Products and Services

• Contract Drilling Services:

  This segment includes providing both contract and directional drilling services primarily in onshore oil and natural gas basins. It is also involved in the servicing and re-certification of equipment for drilling contractors, alongside offering electrical controls and automation solutions across the energy, marine, and mining industries.

• Completion Services:

  Services under this category include hydraulic fracturing, wireline and pumping, completion support, and cementing. Additionally, Patterson-UTI Energy is engaged in power solutions through natural gas fueling, alongside logistics and storage operations. This suite of completion services is integral to preparing wells for production, ensuring operational efficiency and safety.

• Drilling Products:

  This segment focuses on the manufacture and distribution of drill bits tailored for the energy and mining markets. The company's dedication to innovation is reflected in its offering of software and services like MWD Survey FDIR, a cutting-edge data analytics technology for real-time analysis of MWD survey data to accurately identify well positioning. Other notable offerings include HiFi Nav for enhanced directional well placement, HiFi Guidance for optimal steering recommendations, and the rental of oilfield tools to support various drilling projects.