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Home > Company Index > Energy > Oil & Gas Services > Patterson-UTI Energy, Inc.

Patterson-UTI Energy, Inc.
Nasdaq: PTEN
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 NEWS FROM THE WIRES
Patterson-UTI earnings rise on higher rig profits
Jul 24 2001 06:44 AM PDT

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 PROFILE
Does bubblin' crude gush up through the ground in your back yard? If not, Patterson-UTI Energy will drill for it. The company, which provides onshore contract drilling for oil and natural gas producers, was formed in 2001 when the former Patterson Energy bought UTI Energy. Patterson-UTI operates 302 rigs, including 286 in the US and 16 in Western Canada. It has the second-largest land-based drilling fleet in North America, behind that of Nabors Industries. Patterson-UTI complements its drilling and completion services with exploration and production operations that have proved reserves of 1.1 million barrels of oil and 3.8 billion cu. ft. of gas in Texas and New Mexico.

 COMPETITION
Grey Wolf, Inc. (GW)
Helmerich & Payne, Inc. (HP)
Nabors Industries, Inc. (NBR)

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 FINANCIAL OVERVIEW
Fiscal Year-End: December
2000 Sales (mil.): 307.90
1-Yr. Sales Growth: 103.2%
Employees: 3,062
Revenue per employee: $100,555.19

 KEY PEOPLE
• Cloyce A. Talbott
    CEO
• Jonathan D. Nelson
    CFO

 CONTACT INFO
4510 Lamesa Hwy.
Snyder, TX 79550
US
Phone: 915-573-1104
Fax: 915-573-0281
Online: Web Site

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