PTEN

Patterson-UTI Energy, Inc. operates as a leading provider of contract drilling and pressure pumping services to oil and natural gas exploration and production companies, primarily across North America. Headquartered in Houston, Texas, the company was founded in 1978 and has grown to become one of the largest land-based drilling contractors in the United States. Patterson-UTI operates through three primary business segments: Contract Drilling Services, which maintains one of the largest fleets of land-based drilling rigs in North America; Pressure Pumping Services, offering hydraulic fracturing and cementing services; and Directional Drilling Services, providing downhole tools and technologies. The company operates approximately 140 marketable drilling rigs and employs over 7,000 people across its operations. In November 2023, Patterson-UTI completed its acquisition of NexTier Oilfield Solutions for approximately $5.3 billion, significantly expanding its pressure pumping capabilities and creating one of the largest pure-play oilfield services providers in North America. This strategic combination enhanced the company's scale, operational efficiency, and service offerings in key unconventional basins including the Permian, Eagle Ford, and Haynesville. Patterson-UTI focuses on delivering safe, efficient drilling and completion solutions while maintaining a strong balance sheet and commitment to technological innovation in the oilfield services sector.