The company reported $1.2 billion in revenue for Q2 2025, alongside an adjusted EBITDA of $231 million. While it posted a net loss of $49 million—impacted by a $28 million non-cash impairment related to Colombian operations—management remained confident in the long-term trajectory.
In Q1 2025, Patterson-UTI posted $1.3 billion in revenue, a sequential increase from Q4 2024 but a decline from $1.51 billion in Q1 2024.
Patterson Drilling has had an active year in the U.S. so far, with a total of 440 wells drilled across multiple states. Patterson Drilling continues to play a vital role in U.S. oil and gas development, with its strongest presence in the Permian, Williston, and Appalachian basins. With Chevron and Mewbourne Oil leading the way in activity and Eddy County emerging as the most drilled region, the company remains a key contributor to the industry’s momentum in 2025.
Patterson-UTI Energy Inc. (NASDAQ: PTEN) is making strategic moves in this space, leveraging its expertise in mobile power generation to support oilfield operations and capture new opportunities in power services.
Patterson-UTI Energy (NASDAQ: PTEN) recently released its Q4 2024 earnings, providing valuable insights into the state of the U.S. oil and gas industry. Despite reporting a net loss for the quarter, the company remains bullish on long-term natural gas demand, drilling efficiency improvements, and expanding natural gas-powered frac fleets.
The Permian Basin continues to play a central role in the energy sector, and Patterson-UTI Energy is strategically positioning itself to capitalize on the region’s opportunities. In its Q3 2024 financial report, Patterson-UTI outlined its rig operations, market trends, and completion activities in the Permian, focusing on delivering value through innovative technology and operational efficiency.
In the second-quarter 2024 earnings conference call, Patterson-UTI showcased the impressive strides made with their electric fleets (e-fleets). Having operated these fleets for nearly a year, the company shared insights into the performance, strategic growth, market dynamics, and technological advancements of their e-fleets. With a focus on efficiency, service quality, and environmentally friendly solutions, Patterson-UTI is positioning itself as a leader in next-generation frac solutions.
Patterson-UTI operates a significant natural gas fueling business that supports both its own operations and those of other companies. This business includes the operation of two CNG facilities and over 100 truck trailer systems for delivering compressed natural gas. Patterson-UTI powers approximately 2 million horsepower of natural gas-powered equipment, a mix of its own and third-party equipment. The natural gas delivered annually equates to roughly 1 gigawatt hour of electricity.
Patterson-UTI Energy, Inc. (NASDAQ: PTEN) has announced its financial results for the second quarter ended June 30, 2024. The company reported a total revenue of $1.3 billion and a net income of $11 million, or $0.03 per share. Despite incurring $11 million in merger and integration expenses, the company achieved an adjusted EBITDA of $324 million
Patterson-UTI Energy is a major land rig drilling contractor in the U.S. Following its 2023 merger with NexTier, it significantly expanded its pressure pumping operations and now holds nearly 20% of the North American market for drilling and completions services.
