Drilling & Completions | Service & Supply | Oilfield Services | Drilling Activity | Drilling Contractor
Patterson UTI Sees Rig Count Normalizing; No Near-Term Debt
Print
|
Patterson UTI reported its monthly rig activity, in which we see rig count beginning to normalize.
The company has a large exposure to the gas-focused basins (Marcellus and Haynesville), hence the company rig count has held up better relative to its peers.
Drilling Activity
Financial Results
The company financial position continues to improve.
Liquidity
The company has access to $847 million, including $600 million available under our undrawn revolver and $247 million in cash.
More Drilling Contractor News
Drilling Contractor Talks International Drilling Improvement Plus ; Lower 48 and More
Nabors Industries today reported third quarter 2020 operating revenues of $438 million, compared to operating revenues of $534 million in the second quarter of 2020. The net loss…
Precision Drilling Expects Rig Activity To Pick Up Through Year-End; 3Q 2020 Results
Precision Drilling announces 2020 third quarter financial results: Rig/ Drilling Update US Land "In the U.S, we have seen rig counts improve from third quarter lows back to…
Patterson UTI, Frac Activity Better Than Expects; Rigs Growing
Patterson UTI, a horizontal drilling and frac company reported 3q 2020 results today. Here is a quick read through. Rig count was better than expected at 60 average…
Patterson Reports September Drilling Activity Picking Up
Patterson UTI reported its September 2020 drilling activity data. Take-away, activity is picking up slightly. This is in keeping with what the company expected for the remainder of…
Valaris plc Files for Bankruptcy; Secures DIP Financing
Valaris plc has entered into a binding Restructuring Support Agreement (RSA) and Backstop Commitment Agreement (BCA) with approximately 50% of its noteholders. To implement the terms of the…
Ark-La-Tex News
Why $90 Oil Isn’t Bringing Back the Rigs
Higher oil prices are not translating cleanly into a drilling response across U.S. shale, and company disclosures are starting to show why. The issue is not simply capital…
These Three Companies Will Increase Drilling & Completion Over The Next 3 Year
In the span of fifteen months, three Japanese energy companies committed more than $10.3 billion to U.S. natural gas production assets — a buying spree that has transferred…
Q1 A&D Transactions Jump to $30B , While Deal Flow Was Down 40%
The first quarter of 2026 has officially defined the "Barbell Era" of American oil and gas. While the total number of deals plummeted by 46% YoY (dropping to…
Wright to U.S. Oil Industry: The Price Signal Is Telling You to Drill
Energy Secretary Chris Wright stood in front of the largest gathering of oil executives in the world this morning and delivered a message that was equal parts market…
Ascent Resources 2026: A Quiet Growth Story for Oilfield Services
Ascent Resources may not be making headlines with rig additions or dramatic well count increases, but a closer read of their March 2026 investor presentation — compared against…
Gulf Coast News
Diversified Energy Striking While the Iron is Hot in East Texas
Transaction Summary Diversified Energy has entered into a definitive purchase and sale agreement to acquire high-working interest, natural gas producing assets in East Texas from Sheridan Production for…
Infinity Closes $1.2B Utica Upstream & Midstream Deal
Infinity Natural Resources has completed its $1.2 billion acquisition of upstream and midstream assets in the Ohio Utica Shale from Antero Resources and Antero Midstream, according to company disclosures…
Antero Resources Completes $2.8B Marcellus Expansion
Antero Resources Completes $2.8B Marcellus Expansion Antero Resources has completed the previously announced acquisition of upstream assets from HG Energy II, LLC, significantly expanding its core position in…
Mitsubishi to Buy Aethon for ~$5.2B, Taking Scaled Haynesville Gas Platform
Mitsubishi Corporation has agreed to acquire Aethon (Aethon III LLC, Aethon United LP and related entities) for a total equity investment of approximately $5.2 billion, delivering Mitsubishi a…
An Eagle Ford Team That Cashed Out Is Back for Another Cycle
Houston — January 15, 2026 — Lime Rock Partners, a Houston-based private investment firm specializing in upstream oil and gas, has completed an equity commitment to Athena Energy…