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Patterson-UTI Energy, Inc. (NASDAQ:PTEN) reported that for April 2024, they had an average of 116 drilling rigs operating in the United States. The company cautioned that various factors can impact their operating results and that the number of drilling rigs operating may not necessarily reflect their financial performance.
Patterson-UTI Energy, Inc. (NASDAQ:PTEN) reported strong financial results for the first quarter ended March 31, 2024. The company achieved total revenue of $1.5 billion, with net income of $51 million and adjusted net income of $61 million. They achieved a synergy target of $200 million from the NexTier merger, returned $130 million to shareholders, and have remaining share repurchase authorization of $945 million. The company also declared a quarterly dividend of $0.08 per share.