Patterson-UTI

Patterson-UTI (NASDAQ: PTEN) provides land drilling and pressure pumping services, directional drilling, rental equipment and technology to clients in the United States and western Canada. [2]

Patterson-UTI Energy, Inc.
Public company
Traded asNASDAQ: PTEN
S&P 400 component
IndustryPetroleum industry
Founded1978 (1978)
HeadquartersHouston, Texas
Key people
Mark S. Siegel, Chairman
William Andrew Hendricks, Jr., President & CEO
ServicesWell drilling
Revenue $2.356 billion (2017)
$0.006 billion (2017)
Total assets $5.758 billion (2017)
Total equity $3.982 billion (2017)
Number of employees
8,000 (2018)
Websitewww.patenergy.com
Footnotes / references
[1]

Patterson-UTI Companies include:

  • Patterson-UTI Drilling
  • Universal Pressure Pumping
  • MS Directional
  • Great Plains Oilfield Rental
  • Warrior Rig Technologies
  • Current Power Solutions
  • Superior QC

History

Patterson Drilling Company was founded in 1978 by Cloyce Talbott and Glenn Patterson.[1]

In 2001, Patterson Drilling acquired UTI Energy and renamed the company Patterson-UTI Energy.[3]

In September 2014, the company acquired Texas-based pressure pumping assets.[4]

In September 2016, the company acquired Warrior Rig.[5]

In April 2017, the company acquired Seventy Seven Energy.[6] 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).[7]

In October 2017, the company acquired MS Energy Services (now MS Directional).[8]

In February 2018, the company acquired Superior QC, a provider of software used to improve the accuracy of horizontal wellbore placement.[9]

In October 2018, the company acquired Current Power Solutions, Inc.[10]

References
  1. "Patterson-UTI Energy, Inc. 2017 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
  2. "Patterson-UTI Energy, Inc. - Company - About Us". patenergy.com. Retrieved 2019-08-27.
  3. "Patterson and UTI Complete Merger". www.rigzone.com.
  4. "Patterson-UTI Energy Announces Agreement to Acquire Texas-Based Pressure Pumping Assets" (Press release). PR Newswire. September 19, 2014.
  5. "Patterson-UTI Energy Announces Agreement to Acquire Drilling Technology Company" (Press release). PR Newswire. September 14, 2016.
  6. "Patterson-UTI Energy Completes Merger with Seventy Seven Energy" (Press release). PR Newswire. April 20, 2017.
  7. "Seventy Seven Energy's Merger is Complete With Houston Company". Oklahoma Energy Today. 2017-04-24. Retrieved 2019-08-27.
  8. "Recent blog posts - MS Energy News". www.msenergyservices.com. Retrieved 2019-08-27.
  9. "Patterson-UTI Energy Acquires Superior QC, A Directional Drilling Analytics Company" (Press release). PR Newswire. February 21, 2018.
  10. "10-K: PATTERSON UTI ENERGY INC". MarketWatch. Retrieved 2019-08-27.
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