Patterson-UTI Reports Drilling Activity for October 2024
Patterson-UTI Energy reported its drilling activity for October 2024, maintaining an average of 105 drilling rigs operating under contract in the United States. The company emphasized that while it will continue providing monthly updates on drilling rig operations, the number of operating rigs alone may not fully indicate financial performance trends, as multiple factors influence overall operating results.
Patterson-UTI Energy ha riportato la sua attività di perforazione per ottobre 2024, mantenendo una media di 105 impianti di perforazione attivi sotto contratto negli Stati Uniti. L'azienda ha sottolineato che, sebbene continuerà a fornire aggiornamenti mensili sulle operazioni degli impianti di perforazione, il numero di impianti operativi da solo potrebbe non indicare completamente le tendenze delle performance finanziarie, poiché molteplici fattori influenzano i risultati operativi complessivi.
Patterson-UTI Energy informó sobre su actividad de perforación para octubre de 2024, manteniendo un promedio de 105 plataformas de perforación operando bajo contrato en los Estados Unidos. La empresa enfatizó que, aunque continuará proporcionando actualizaciones mensuales sobre las operaciones de las plataformas de perforación, el número de plataformas en operación por sí solo puede no reflejar completamente las tendencias del rendimiento financiero, ya que múltiples factores influyen en los resultados operativos totales.
Patterson-UTI Energy는 2024년 10월에 대한 시추 활동을 보고하며 미국에서 계약 하에 운영되는 105개의 시추 장비 평균을 유지하고 있습니다. 회사는 시추 장비 운영에 대한 월별 업데이트를 지속적으로 제공할 것이라고 강조했지만, 운영 중인 장비 수만으로는 재무 성과 추세를 완전히 나타내지 않을 수 있으며, 전체 운영 결과에 영향을 미치는 여러 요인이 있다는 점을 설명했습니다.
Patterson-UTI Energy a rapporté son activité de forage pour octobre 2024, maintenant une moyenne de 105 foreuses en opération sous contrat aux États-Unis. La société a souligné que, bien qu'elle continue de fournir des mises à jour mensuelles sur les opérations de forage, le nombre de foreuses en activité à lui seul pourrait ne pas indiquer complètement les tendances de la performance financière, car plusieurs facteurs influencent les résultats opérationnels globaux.
Patterson-UTI Energy berichtete über seine Bohraktivitäten für Oktober 2024 und hielt im Durchschnitt 105 Bohranlagen unter Vertrag in den Vereinigten Staaten im Betrieb. Das Unternehmen betonte, dass es zwar weiterhin monatliche Updates zu den Betriebsabläufen der Bohranlagen bereitstellen wird, die Anzahl der betriebenen Anlagen allein möglicherweise nicht vollständig die Trends der finanziellen Leistung anzeigen kann, da mehrere Faktoren die Gesamtergebnisse beeinflussen.
- Maintained substantial operational presence with 105 drilling rigs actively generating revenue
- None.
Insights
The October rig count of 105 represents a key operational metric for Patterson-UTI's core business. While this monthly update provides transparency into utilization levels, the flat sequential performance suggests stable but unexciting near-term market conditions in U.S. land drilling. The cautionary statement about other factors affecting financial results is particularly relevant given that rig rates and efficiency metrics, which aren't disclosed here, are equally important drivers of profitability. This routine operational update offers insight into the company's financial trajectory or market dynamics.
HOUSTON, TX / ACCESSWIRE / November 5, 2024 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of October 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
Contact Information
Michael Sabella
Investor Relations
michael.sabella@patenergy.com
2032973732
SOURCE: Patterson-UTI Energy, Inc.
View the original press release on accesswire.com
FAQ
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