PTEN news

Patterson-UTI Energy reported a 9% sequential revenue increase to $1.3 billion and a quarterly dividend of $0.10 per share. The company noted strong operational performance and expected improved free cash flow in 2027.

Patterson-UTi Energy reported limited U.S. rig availability in Q4 of 2026 and completed a sale of idle components for Venezuela. The company expects 2026 adjusted free cash flow to cover the annual dividend and capital expenditures to be approximately $600 million. This update provides insight into …

Patterson-UTI Energy is experiencing increased US shale activity with plans to exit 2026 with 100+ active rigs and expects stronger Q2 completion services results. The company is benefiting from rising dayrates, improved pricing, and equipment modernization investments.