Overview
Patterson-UTI Energy Inc. is a Houston-based oilfield-services company serving oil and natural gas producers. Its core businesses are drilling services, completion services and drilling products, including contract drilling, directional drilling, hydraulic fracturing, wireline services, and drill bits and downhole tools.[1][2][3][4][5]
Its operations are concentrated in the United States, with contract drilling also in Colombia and Ecuador; its drill-bit products are distributed in more than 30 countries. The company describes its purpose as “responsibly provide energy to the world.” It reported approximately 9,000 full-time employees as of January 2025.[2][3][4][6][7] [1][2][3][4][5][6][7][6][7]
Products & services
Patterson-UTI’s Drilling Services include contract drilling using APEX® rigs. The company describes its super-spec rigs as AC-powered, with at least 1,500 horsepower, 750,000-pound hookload capacity, a 7,500-psi circulating system and pad capability; Tier-1 super-spec rigs add a third mud pump and raised drawworks.[8][9][10]
Completion Services include hydraulic fracturing, wireline, pumping, completion support, cementing, natural-gas fueling and proppant logistics and storage. Fracturing offerings include electric, direct-drive and dual-fuel pumps. The company also describes Vertex™ automated closed-loop completions on its eos™ digital platform, along with plug-and-perf wireline, perforating, pumpdown, pipe recovery, pressure testing, natural-gas treatment and delivery, and cementing and acidizing with engineering support.[11][12][13][14][15]
Drilling Products include Ulterra-designed and manufactured matrix- and steel-bodied PDC drill bits and other downhole tools. Products are generally rented, with sales in select international markets; used tools may be repaired or refurbished. Manufacturing and repair operations also serve geothermal and mining markets.[5][16]
For FY2025, reported segment revenues were $1,557.642 million for Drilling Services, $2,892.247 million for Completion Services and $343.707 million for Drilling Products—approximately 32.3%, 59.9% and 7.1%, respectively, of consolidated revenue of $4,826.624 million. Percentages are calculated from the reported figures.[17][18] [8][9][10][11][12][13][14][15][5][16][17][18][18][18][18]
Geographic presence
Patterson-UTI Energy is headquartered in Houston, Texas, and its contract-drilling operations are primarily in the continental United States. Its directional-drilling and completions activities serve major U.S. onshore basins, including the Permian, Marcellus/Utica, Eagle Ford, Mid-Continent, Haynesville, and Bakken/Rockies regions.[19][20][21][22]
Its Q2 2026 marketed land-rig fleet was distributed across West Texas (63 rigs), Appalachia (21), Oklahoma (16), the Rockies (22), South Texas (13), and East Texas (7), as well as Colombia (3), Ecuador (1), and Argentina (2). The company approved an exit from Colombian contract drilling in Q2 2026, so the Colombia figure reflects the fleet listing at that time rather than a continuing footprint.[23][24]
The company lists drilling-services offices and yards in Texas, Oklahoma, Colorado, North Dakota, Wyoming, Pennsylvania, and Ohio, as well as Colombia and Ecuador. Its drill-bit manufacturing and repair facilities include Fort Worth, Texas; Leduc, Alberta; and Saudi Arabia, with additional repair facilities in Argentina, Colombia, and Oman; drill-bit products are distributed across North America and more than 30 countries.[25][4][26] The 2025 filing reports that approximately 98% of revenue was denominated in U.S. dollars, but does not provide a geographic revenue breakdown or employee distribution by geography.[27] [19][20][21][22][23][23][23][23][23][23][23][23][23][24][25][4][26][27]
Business segments
Patterson-UTI Energy reports three business segments: Drilling Services, Completion Services, and Drilling Products. Drilling Services includes contract drilling and directional drilling services, including measurement-while-drilling, rotary steerable systems, and downhole motors and equipment. Completion Services focuses primarily on hydraulic fracturing and integrated completion services, as well as cementing. Drilling Products designs, manufactures, sells, and rents polycrystalline diamond compact drill bits and other downhole tools through Ulterra.[28][29][30][15][5]
For fiscal 2025, segment revenues were $1.56 billion from Drilling Services (about 32.3% of consolidated revenue), $2.89 billion from Completion Services (59.9%), and $343.7 million from Drilling Products (7.1%). The company also reported $33.0 million of other revenue (0.7%), outside the three-segment subtotal.[31] In the first half of 2026, the latest interim period in the reviewed filings, reported revenue was $725.2 million from Drilling Services (30.9%), $1.43 billion from Completion Services (61.1%), and $171.1 million from Drilling Products (7.3%); other revenue was $15.7 million (0.7%).[18] [28][29][30][15][5][31][18]
Company history
Patterson-UTI’s roots trace to Patterson Energy’s drilling operations in West Texas, which began in 1978, and to UTI Energy, whose drilling and oilfield-services business spun off from a Northeastern gas producer in 1987. The two companies merged in 2001 to form Patterson-UTI Energy.[6] In 2012, William A. “Andy” Hendricks, Jr. began serving as the company’s president and chief executive officer.[32]
In 2017, Patterson-UTI completed its acquisition of Seventy Seven Energy, adding its operations as a wholly owned subsidiary.[33] In 2023, the company expanded into drilling products with its acquisition of Ulterra, then completed a merger with NexTier, adding well-completion and production services to its operations.[34][35] [33][34][35][6][32]
Sources
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