Patterson-UTI Energy, Inc. Reports Drilling Activity for the Month and Three Months Ended December 31, 2018
January 04, 2019 at 06:00 am EST
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Patterson-UTI Energy, Inc. reported drilling activity for the month and three months ended December 31, 2018. For the month, the company had an average of 185 drilling rigs operating.
For the three months ended December 31, 2018, the Company had an average of 183 drilling rigs operating. 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.
Patterson-UTI Energy, Inc. is a provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling services, integrated well completion services and directional drilling services in the United States. The Company operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Drilling Services segment consists of contract drilling, directional drilling, oilfield technology and electrical controls and automation businesses. It provides contract drilling services to oil and natural gas operators in the United States and Colombia. Its Completion Services segment consists of well completion business, which includes hydraulic fracturing, wireline and pumping, completion support, cementing and pressure pumping business. The Drilling Products segment includes manufacturing and distribution of drill bits business.
PATTERSON-UTI ENERGY, INC. 
