PTEN on Nasdaq

Patterson-UTI Energy, Inc

Logo: patenergy.com⁴

American company

Patterson-UTI Energy, Inc. provides land drilling and pressure pumping services, directional drilling, rental equipment and technology to clients in the United States and western Canada.³ From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

1978Founded¹

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TickerPTEN on Nasdaq¹
Industrypetroleum industry¹
HeadquartersHouston¹
Websitewww.patenergy.com
Legal formDelaware corporation¹
Incorporated inDE⁵
Business address10713 West Sam Houston Parkway North, Suite 800, Houston, Tx 77064⁵
Filer categoryLarge accelerated filer⁵

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Patterson-UTI Energy, Inc image from its website — Image: patenergy.com⁴

Patterson-UTI Energy, Inc. provides land drilling and pressure pumping services, directional drilling, rental equipment and technology to clients in the United States and western Canada.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-0.9%Operating margin⁷

-2.0%Net margin⁷

-9.8%Revenue growth, 2025⁷

-2.9%Return on equity⁷

0.38×Debt to equity⁷

$372.2MFree cash flow⁷

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Completion Services brought in 38% of the revenue Patterson-UTI Energy, Inc broke down this way in fiscal 2025.

Completion Services$2.9B⁷38%down 11% from 2024
Completions Services$2.9B⁷38%down 11% from 2024
Drilling Services$1.6B⁷20%down 10% from 2024
Drilling Products$343.7M⁷4%down 2% from 2024

Business segments by year

Business segments	2023	2024	2025
Completion Services	$2.0B	$3.2B	$2.9B
Completions Services	$2.0B	$3.2B	$2.9B
Drilling Services	$1.9B	$1.7B	$1.6B
Drilling Products	$134.7M	$351.7M	$343.7M

Regions

United States brought in 97% of the revenue Patterson-UTI Energy, Inc broke down this way in fiscal 2025.

United States$4.7B⁷97%down 11% from 2024
Other Non U.S. Countries$75.1M⁷2%down 10% from 2024
Canada$34.7M⁷1%up 4% from 2024
CO$27.6M⁷1%up 125% from 2024

Regions by year

Regions	2023	2024	2025
United States	$4.1B	$5.2B	$4.7B
Other Non U.S. Countries	$28.2M	$83.0M	$75.1M
Canada	$12.5M	$33.5M	$34.7M
CO	$48.6M	$12.2M	$27.6M

Where the money goes

Where each dollar of revenue went, fiscal 2025

Other costs

Selling, general and admin5¢$255.1M
Other costs94¢$4.5B
Income tax0¢$9.9M

Out of $4.8B in revenue.⁷ The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

Capital spendingDividends paidKept or used elsewhere

Capital spending61¢$589.0M
Dividends paid13¢$122.5M
Share buybacks7¢$69.6M
Kept or used elsewhere19¢$180.1M

Out of $961.2M of cash from operations.⁷

Financial statements

Revenue⁸⁹¹⁰¹¹⁷$4.8B in 2025+94% since 2019

Operating income⁸⁹¹⁰¹¹⁷-$40.8M in 2025−91% since 2019

Net income⁸⁹¹⁰¹¹⁷-$93.6M in 2025−78% since 2019

Every line of the income statement in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Total operating revenues	$4.8B	$5.4B	$4.1B
Depreciation, depletion, amortization and impairment	$940.3M	$1.2B	$731.4M
Impairment of goodwill	$0	$885.2M	$0
Selling, general and administrative	$255.1M	$268.3M	$170.0M
Merger and integration expense	$1.0M	$33.0M	$98.1M
Other operating expense (income), net	$14.6M	-$10.7M	-$16.3M
Total operating costs and expenses	$4.9B	$6.3B	$3.8B
Operating income (loss)	-$40.8M	-$889.7M	$352.0M
Interest income	$6.6M	$5.7M	$6.1M
Interest expense, net of amount capitalized	-$70.5M	-$72.0M	-$52.9M
Other income (expense)	$1.7M	-$975.0K	$1.9M
Total other income (expense)	-$62.2M	-$67.2M	-$44.9M
Income (loss) before income taxes	-$103.0M	-$956.9M	$307.1M
Income tax expense (benefit)	-$9.9M	$9.5M	$61.2M
Net income (loss)	-$93.1M	-$966.4M	$246.0M
Net income (loss) attributable to noncontrolling interest	$581.0K	$1.6M	-$340.0K
Net income (loss) attributable to common stockholders	-$93.6M	-$968.0M	$246.3M
Basic (in usd per share)	-$0.24	-$2.44	$0.88
Diluted (in usd per share)	-$0.24	-$2.44	$0.88
Basic (in shares)	383.5M shares	397.2M shares	279.5M shares
Diluted (in shares)	383.5M shares	397.2M shares	280.1M shares

Total assets⁸⁹¹⁰¹¹⁷$5.6B in 2025+25% since 2019

Total liabilities¹⁴⁸⁹¹⁰¹¹⁷$2.3B in 2025+46% since 2019

Shareholders’ equity⁹¹⁰¹¹⁷$3.2B in 2025+14% since 2019

Cash⁸⁹¹⁰¹¹⁷$418.5M in 2025+140% since 2019

Long-term debt¹⁴⁸⁹¹⁰¹¹⁷$1.2B in 2025+26% since 2019

Every line of the balance sheet in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Cash, cash equivalents and restricted cash	$420.6M	$241.3M	$192.7M
Accounts receivable, net of allowance for credit losses of $14,469 and $15,047 at December 31, 2025 and 2024, respectively	$723.3M	$763.8M
Inventory	$160.3M	$167.0M
Other current assets	$113.9M	$123.2M
Total current assets	$1.4B	$1.3B
Property and equipment, net	$2.7B	$3.0B
Operating lease right of use asset	$43.0M	$44.4M
Finance lease right of use asset	$14.9M	$27.0M
Goodwill	$487.4M	$487.4M
Intangible assets, net	$814.8M	$929.6M
Deposits on equipment purchases	$11.8M	$15.7M
Other assets	$69.5M	$23.7M
Total assets	$5.6B	$5.8B	$7.4B
Accounts payable	$470.8M	$421.3M
Accrued liabilities	$366.5M	$385.8M
Operating lease liability	$18.7M	$13.3M
Finance lease liability	$7.7M	$15.2M
Current maturities of long-term debt	$0	$6.4M
Total current liabilities	$863.6M	$842.0M
Long-term operating lease liability	$27.6M	$34.3M
Long-term finance lease liability	$5.5M	$10.2M
Long-term debt, net of debt discount and issuance costs of $6,362 and $7,637 at December 31, 2025 and 2024, respectively	$1.2B	$1.2B
Deferred tax liabilities, net	$215.8M	$238.1M
Other liabilities	$12.2M	$13.2M
Total liabilities	$2.3B	$2.4B
Preferred stock, par value $0.01; authorized 1,000,000 shares, no shares issued	$0	$0
Common stock, par value $0.01; authorized 800,000,000 and 800,000,000 shares with 523,736,898 and 520,784,783 issued and 379,301,646 and 387,344,755 outstanding at December 31, 2025 and 2024, respectively	$5.2M	$5.2M
Additional paid-in capital	$6.5B	$6.5B
Retained earnings (deficit)	-$1.3B	-$1.0B
Accumulated other comprehensive income (loss)	-$1.2M	-$2.6M
Treasury stock, at cost, 144,435,252 shares and 133,440,028 shares at December 31, 2025 and 2024, respectively	-$2.0B	-$2.0B	-$1.7B
Total stockholders equity attributable to controlling interests	$3.2B	$3.5B
Noncontrolling interest	$6.2M	$10.0M
Total equity	$3.2B	$3.5B	$4.8B
Total liabilities and stockholders equity	$5.6B	$5.8B
Accounts receivable, allowance for doubtful accounts	$14.5M	$15.0M
Long-term debt, debt discount and issuance costs	$6.4M	$7.6M
Preferred stock, par value (in usd per share)	$0.01	$0.01
Preferred stock, authorized (in shares)	1.0M shares	1.0M shares
Preferred stock, shares issued (in shares)	0 shares	0 shares
Common stock, par value (in usd per share)	$0.01	$0.01
Common stock, authorized (in shares)	800.0M shares	800.0M shares
Common stock, issued (in shares)	523.7M shares	520.8M shares
Common stock, outstanding (in shares)	379.3M shares	387.3M shares
Treasury stock, shares (in shares)	144.4M shares	133.4M shares	105.6M shares

Cash from operations⁸⁹¹⁰¹¹⁷$961.2M in 2025+38% since 2019

Capital spending⁸⁹¹⁰¹¹⁷$589.0M in 2025+69% since 2019

Free cash flow⁸⁹¹⁰¹¹⁷$372.2M in 2025+7% since 2019

Dividends paid⁸⁹¹⁰¹¹⁷$122.5M in 2025+278% since 2019

Share buybacks⁸⁹¹⁰¹¹⁷$69.6M in 2025−73% since 2019

Every line of the cash flow in the latest annual report, as filed.⁷

Period ending	2025-12-31	2024-12-31	2023-12-31
Net income (loss)	-$93.1M	-$966.4M	$246.0M
Depreciation, depletion, amortization and impairment	$940.3M	$1.2B	$731.4M
Impairment of goodwill	$0	$885.2M	$0
Deferred income tax expense (benefit)	-$21.7M	-$1.8M	$51.9M
Stock-based compensation	$39.3M	$46.4M	$46.8M
Net gain on asset disposals	-$693.0K	-$3.7M	-$1.8M
Other	$737.0K	$7.9M	-$1.1M
Accounts receivable	$40.6M	$203.7M	$84.5M
Inventory	-$1.8M	-$11.5M	-$30.8M
Other current assets	$16.0M	$19.6M	-$10.4M
Other assets	$16.5M	$33.8M	$24.7M
Accounts payable	$71.3M	-$112.9M	-$69.7M
Accrued liabilities	-$21.5M	-$66.6M	-$23.5M
Other liabilities	-$24.8M	-$30.1M	-$42.1M
Net cash provided by operating activities	$961.2M	$1.2B	$1.0B
Acquisitions, net of cash acquired - NexTier	$0	$0	-$65.2M
Acquisitions, net of cash acquired - Ulterra	$0	$3.0M	-$357.3M
Purchases of property and equipment	-$589.0M	-$678.4M	-$615.7M
Investment in unconsolidated affiliate	-$10.5M	$0	$0
Proceeds from disposal of assets, including insurance recoveries	$44.1M	$25.8M	$26.5M
Other	-$11.7M	-$5.2M	-$5.9M
Net cash used in investing activities	-$567.2M	-$654.7M	-$1.0B
Purchases of treasury stock	-$69.6M	-$290.4M	-$200.7M
Dividends paid	-$122.5M	-$126.8M	-$100.0M
Proceeds from borrowings under revolving credit facility	$0	$50.0M	$420.0M
Repayment of borrowings under revolving credit facility	$0	-$50.0M	-$420.0M
Proceeds from issuance of senior notes	$0	$0	$396.4M
Repayment of senior notes	$0	$0	-$7.8M
Payments of finance leases	-$7.8M	-$45.5M	-$15.9M
Other	-$10.8M	-$12.3M	-$6.3M
Net cash provided by (used in) financing activities	-$210.7M	-$475.0M	$65.6M
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	-$4.0M	$2.8M	$1.2M
Net change in cash, cash equivalents and restricted cash	$179.3M	$48.6M	$55.1M
Interest, net of capitalized interest of $734 in 2025, $1,334 in 2024, and $1,692 in 2023	-$66.9M	-$68.6M	-$39.6M
Income taxes	-$8.1M	-$14.8M	-$27.2M
Net decrease in payables for purchases of property and equipment	-$22.0M	-$133.0K	-$15.1M
Net decrease in deposits on equipment purchases	$3.9M	$12.6M	$7.9M
Issuance of common stock for business acquisitions	$0	$0	$3.2B
Purchases of property and equipment through exchange of lease right of use asset	$8.1M	$31.0M	$3.2M
Derecognition of right of use asset	-$8.1M	-$36.1M	-$3.2M
Interest expense, capitalized interest	$734.0K	$1.3M	$1.7M

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The story

Patterson Drilling Company was founded in 1978 by Cloyce Talbott and Glenn Patterson.

UTI Energy was formed in 1986 to purchase Universal Well Services, Union Supply Company, Triad Drilling Company, and International Petroleum Services Company.

In 2001, Patterson Drilling acquired UTI Energy and renamed the company Patterson-UTI Energy.

In September 2014, the company acquired Texas-based pressure pumping assets.

In September 2016, the company acquired Warrior Rig.

In April 2017, the company acquired Seventy Seven Energy. The deal included Seventy Seven's affiliates: Great Plains Oilfield Rental, Nomac Drilling (now part of Patterson-UTI Drilling), and Performance Technologies (now part of Universal Pressure Pumping).

In October 2017, the company acquired MS Energy Services (now MS Directional).

In February 2018, the company acquired Superior QC, a provider of software used to improve the accuracy of horizontal wellbore placement.

Read the full text

In October 2018, the company acquired Current Power Solutions, Inc.

In October 2021, Patterson-UTI announced that it completed the acquisition of Pioneer Energy Services.

In September 2023, the company merged with NexTier OFS

From Wikipedia’s article on Patterson-UTI, shared under CC BY-SA 4.0.⁶

Former names

PATTERSON ENERGY INCFeb 15, 1995 to Apr 23, 2001⁵

Timeline

Nov 2, 1993Went public Listed on NASDAQ¹
1978Founded Founded¹

Recent filings

Sep 21, 20264
Sep 18, 2026144
Sep 8, 20268-K
Sep 3, 20264
Sep 3, 20264
Sep 3, 20264
Sep 2, 2026144
Sep 2, 2026144
Sep 1, 2026144
Sep 1, 2026144
Aug 26, 2026S-3ASR
Aug 26, 20264
Aug 25, 2026144
Aug 4, 202610-Q
Aug 4, 2026S-8

Every filing from the last three years, summarized. The full record is on SEC EDGAR.²

Sources

The numbers on this page point here. Each one links to the record it came from.

1
WikidataPatterson-UTI Energy, Inc on Wikidata
2
SEC EDGARPatterson-UTI Energy, Inc filings on SEC EDGAR
3
WikipediaPatterson-UTI Energy, Inc on Wikipedia
4
Company websitePatterson-UTI Energy, Inc logo
5
SEC EDGARPatterson-UTI Energy, Inc filings on SEC EDGAR
6
WikipediaPatterson-UTI Energy, Inc on Wikipedia (revision used)
7
SEC EDGARPatterson-UTI Energy, Inc 10-K for fiscal 2025
8
SEC EDGARPatterson-UTI Energy, Inc 10-K for fiscal 2019
9
SEC EDGARPatterson-UTI Energy, Inc 10-K for fiscal 2020
10
SEC EDGARPatterson-UTI Energy, Inc 10-K for fiscal 2021
11
SEC EDGARPatterson-UTI Energy, Inc 10-K for fiscal 2022
12
SEC EDGARPatterson-UTI Energy, Inc 10-Q for fiscal 2026
13
SEC EDGARPatterson-UTI Energy, Inc 10-Q for fiscal 2026
14
SEC EDGARPatterson-UTI Energy, Inc 10-K for fiscal 2019