Patterson-UTI reports drilling activity for March 2017
Thursday, Apr 06, 2017
PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today reported that for the month of March 2017, the Company had an average of 88 drilling rigs operating in the United States and two rigs in Canada. For the three months ended March 31, 2017, the Company had an average of 81 drilling rigs operating in the United States and two rigs in Canada.
Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs that were operating under a drilling contract. 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 an oilfield services company that primarily owns and operates in the United States one of the largest fleets of land-based drilling rigs and a large fleet of pressure pumping equipment. Our contract drilling business operates in the continental United States and western Canada, and our pressure pumping business operates primarily in Texas and the Appalachian region. We also provide drilling rig pipe handling technology to drilling contractors in North America and other select markets. In addition, we own and invest as a non-operating working interest owner in oil and natural gas assets that are primarily located in Texas and New Mexico.
For more information, please visit: http://www.patenergy.com