Patterson-UTI Reports Drilling Activity for December 2024
Patterson-UTI Energy (NASDAQ:PTEN) has released its drilling activity report for December 2024. The company maintained an average of 104 drilling rigs operating in the United States during December. For the fourth quarter ending December 31, 2024, the average was slightly higher at 105 drilling rigs.
The company notes that these figures represent only rigs actively earning revenue under drilling contracts. Patterson-UTI emphasizes that rig count trends may not directly correlate with financial performance, as multiple factors influence their operating results. The company confirms it will continue providing monthly updates on operational rig counts.
Patterson-UTI Energy (NASDAQ:PTEN) ha pubblicato il suo rapporto sull'attività di perforazione per dicembre 2024. L'azienda ha mantenuto una media di 104 impianti di perforazione attivi negli Stati Uniti durante il mese di dicembre. Per il quarto trimestre che si è concluso il 31 dicembre 2024, la media è stata leggermente superiore a 105 impianti di perforazione.
L'azienda fa notare che queste cifre rappresentano solo gli impianti che guadagnano attivamente entrate sotto contratti di perforazione. Patterson-UTI sottolinea che le tendenze del numero di impianti potrebbero non correlarsi direttamente con le performance finanziarie, poiché diversi fattori influenzano i loro risultati operativi. L'azienda conferma che continuerà a fornire aggiornamenti mensili sui conteggi operativi degli impianti.
Patterson-UTI Energy (NASDAQ:PTEN) ha publicado su informe de actividad de perforación correspondiente a diciembre de 2024. La empresa mantuvo un promedio de 104 plataformas de perforación en funcionamiento en Estados Unidos durante diciembre. Para el cuarto trimestre, que finaliza el 31 de diciembre de 2024, el promedio fue ligeramente mayor, alcanzando 105 plataformas de perforación.
La empresa señala que estas cifras representan solo las plataformas que están generando ingresos activamente bajo contratos de perforación. Patterson-UTI enfatiza que las tendencias en el conteo de plataformas pueden no correlacionarse directamente con el rendimiento financiero, dado que múltiples factores influyen en sus resultados operativos. La empresa confirma que continuará proporcionando actualizaciones mensuales sobre los conteos operativos de plataformas.
패터슨-유티 아이너지 (NASDAQ:PTEN)는 2024년 12월의 시추 활동 보고서를 발표했습니다. 이 회사는 12월 동안 미국에서 104개의 시추 리그가 운영되는 평균을 유지했습니다. 2024년 12월 31일로 끝나는 4분기에는 평균이 약간 상승하여 105개의 시추 리그가 되었습니다.
이 회사는 이러한 수치가 시추 계약에 따라 수익을 적극적으로 창출하는 기계만을 나타낸다고 언급했습니다. 패터슨-유티는 기계 수의 추세가 재무 성과와 직접적으로 상관관계가 없을 수 있으며, 여러 가지 요소가 운영 결과에 영향을 미친다고 강조했습니다. 이 회사는 운영 리그 수에 대한 월간 업데이트를 계속 제공할 것이라고 확인했습니다.
Patterson-UTI Energy (NASDAQ:PTEN) a publié son rapport sur l'activité de forage pour décembre 2024. L'entreprise a maintenu une moyenne de 104 plateformes de forage en fonctionnement aux États-Unis durant le mois de décembre. Pour le quatrième trimestre se terminant le 31 décembre 2024, la moyenne était légèrement plus élevée, atteignant 105 plateformes de forage.
L'entreprise souligne que ces chiffres représentent uniquement les plateformes générant activement des revenus sous des contrats de forage. Patterson-UTI insiste sur le fait que les tendances du nombre de plateformes peuvent ne pas être directement corrélées aux performances financières, car plusieurs facteurs influencent leurs résultats opérationnels. L'entreprise confirme qu'elle continuera à fournir des mises à jour mensuelles sur les comptages de plateformes en opération.
Patterson-UTI Energy (NASDAQ:PTEN) hat seinen Bericht über die Bohraktivitäten für Dezember 2024 veröffentlicht. Das Unternehmen hielt im Dezember eine durchschnittliche Anzahl von 104 betriebenen Bohrgeräten in den Vereinigten Staaten. Für das vierte Quartal, das am 31. Dezember 2024 endet, lag der Durchschnitt geringfügig höher bei 105 Bohrgeräten.
Das Unternehmen weist darauf hin, dass diese Zahlen nur Geräte darstellen, die aktiv Einnahmen aus Bohrverträgen erzielen. Patterson-UTI betont, dass die Entwicklungen der Gerätezahlen möglicherweise nicht direkt mit der finanziellen Leistung korrelieren, da verschiedene Faktoren ihre Betriebsergebnisse beeinflussen. Das Unternehmen bestätigt, dass es weiterhin monatliche Aktualisierungen der operativen Gerätezahlen bereitstellen wird.
- Maintained stable drilling rig operations with 104 rigs in December 2024
- Q4 2024 average rig count of 105 shows consistent operational levels
- Slight decrease in December rig count (104) compared to Q4 average (105)
Insights
The latest drilling activity report from Patterson-UTI shows a slight sequential decline with 104 drilling rigs operating in December 2024, down from the quarterly average of 105 rigs. This minor decrease aligns with typical seasonal patterns in the oil and gas industry where activity often softens during year-end.
Analyzing the broader context, rig count stability in the 104-105 range suggests resilient demand for drilling services despite market volatility. For perspective, each active rig typically generates
The steady rig count indicates PTEN is maintaining its market position in the competitive U.S. land drilling sector. While not a dramatic growth story, the operational stability provides visibility for near-term revenue streams and supports the company's ability to maintain pricing power with customers.
Looking beyond the headline numbers, the sustained rig count has important implications for PTEN's financial metrics. With dayrates for modern rigs remaining robust, the stable utilization supports strong cash flow generation. The company's
For investors, the key focus should be on operational efficiency and margin preservation rather than absolute rig count growth. Each active rig requires significant capital investment and operating costs, so maintaining a stable fleet at optimal utilization levels can be more profitable than aggressive expansion. The monthly transparency in reporting activity levels helps reduce uncertainty and supports more accurate financial modeling.
Worth noting is that while rig count is an important metric, it's just one component of overall financial performance. Other factors like contract terms, operating costs and capital expenditure requirements play important roles in determining profitability and shareholder returns.
HOUSTON, TEXAS / ACCESSWIRE / January 6, 2025 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of December 2024, the Company had an average of 104 drilling rigs operating in the United States. For the three months ended December 31, 2024, the Company had an average of 105 drilling rigs operating in the United States.
Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs that were earning revenue under a drilling contract in the United States. The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company's operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company's financial performance. The Company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.
About Patterson-UTI
Patterson-UTI is a leading 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, and specialized drill bit solutions in the United States, Middle East and many other regions around the world. For more information, visit www.patenergy.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are not limited to historical facts, but reflect Patterson-UTI's current beliefs, expectations or intentions regarding future events. Words such as "anticipate," "believe," "budgeted," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "potential," "project," "pursue," "should," "strategy," "target," or "will," and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding Patterson-UTI's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond Patterson-UTI's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: adverse oil and natural gas industry conditions; global economic conditions, including inflationary pressures and risks of economic downturns or recessions in the United States and elsewhere; volatility in customer spending and in oil and natural gas prices that could adversely affect demand for Patterson-UTI's services and their associated effect on rates; excess availability of land drilling rigs, pressure pumping and directional drilling equipment, including as a result of reactivation, improvement or construction; competition and demand for Patterson-UTI's services; the impact of the ongoing conflict in Ukraine; strength and financial resources of competitors; utilization, margins and planned capital expenditures; liabilities from operational risks for which Patterson-UTI does not have and receive full indemnification or insurance; operating hazards attendant to the oil and natural gas business; failure by customers to pay or satisfy their contractual obligations (particularly with respect to fixed-term contracts); the ability to realize backlog; specialization of methods, equipment and services and new technologies, including the ability to develop and obtain satisfactory returns from new technology; the ability to retain management and field personnel; loss of key customers; shortages, delays in delivery, and interruptions in supply, of equipment and materials; cybersecurity events; synergies, costs and financial and operating impacts of acquisitions; difficulty in building and deploying new equipment; governmental regulation; climate legislation, regulation and other related risks; environmental, social and governance practices, including the perception thereof; environmental risks and ability to satisfy future environmental costs; technology-related disputes; legal proceedings and actions by governmental or other regulatory agencies; the ability to effectively identify and enter new markets; public health crises, pandemics and epidemics; weather; operating costs; expansion and development trends of the oil and natural gas industry; ability to obtain insurance coverage on commercially reasonable terms; financial flexibility; interest rate volatility; adverse credit and equity market conditions; availability of capital and the ability to repay indebtedness when due; our return of capital to stockholders; stock price volatility; and compliance with covenants under Patterson-UTI's debt agreements.
Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in Patterson-UTI's SEC filings. Patterson-UTI's filings may be obtained by contacting Patterson-UTI or the SEC or through Patterson-UTI's website at http://www.patenergy.com or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov. Patterson-UTI undertakes no obligation to publicly update or revise any forward-looking statement.
Contact:
Michael Sabella
Vice President, Investor Relations
(281) 885-7589
SOURCE: Patterson-UTI Energy, Inc.
View the original press release on accesswire.com
FAQ
How many drilling rigs did Patterson-UTI (PTEN) operate in December 2024?
What was Patterson-UTI's (PTEN) average rig count for Q4 2024?
Did Patterson-UTI (PTEN) experience any significant rig count changes in December 2024?
How frequently does Patterson-UTI (PTEN) report its drilling rig count?
