| | Business Summary | | Patterson-UTI
Energy,
Inc.
operates
land-based
oil
and
gas
drilling
rigs.
The
Company
owns
302
drilling
rigs,
with
drilling
operations
in
Texas,
New
Mexico,
Utah,
Oklahoma,
Louisiana
and
western
Canada.
The
Company
is
also
engaged
in
the
business
of
pressure
pumping,
oil
and
gas
exploration
and
production,
and
drilling
and
completion
fluids
services.
The
Company
was
formed
in
May
2001
as
the
result
of
a
merger
between
Patterson
Energy,
Inc.
(Patterson)
and
UTI
Energy
Corp.
(UTI). | | More
from
Market Guide: Expanded
Business Description |
| | Financial Summary | | Patterson-UTI
Energy,
Inc.
is
the
largest
provider
of
domestic
land-based
drilling
services
to
major
independent
oil
and
natural
gas
companies
in
North
America,
and
is
also
engaged
in
pressure
pumping,
exploration
and
drilling.
For
the
six
months
ended
6/30/01,
total
revenues
totaled
$526.2
million,
up
from
$235.9
million.
Net
income
totaled
$85.1
million,
up
from
$5.7
million.
Results
reflect
an
increase
in
average
rig
utilization
and
the
addition
of
new
rigs. | | More
from
Market Guide: Significant
Developments |
| | |
| Position | | Mark Seigel, 49 | Chairman | | Cloyce Talbott, 65 | CEO,
Director | | A. Glenn Patterson, 54 | Pres,
COO, Director | | Jonathan Nelson, 32 | CFO | | John Vollmer, III, 45 | Sr.
VP - Corp. Devel. |
| More
from
Market Guide on Officers & Directors:
Expanded
List, Bios,
Compensation,
Options
|
|
![[one-year price graph]](http://chart.yahoo.com/c/0b/p/pten.gif)