Patterson-UTI said the U.S. industry will require multi-year growth in drilling and completions to meet rising natural gas demand from LNG exports and power generation, as current activity levels are already beginning to pressure production. While near-term drilling may remain flat, they expect incremental rig demand to emerge in the second half of 2026 and beyond, with growth concentrated in high-spec rigs needed for deeper, more complex wells.

Patterson-UTI Energy’s Q3 2025 results highlight resilience amid a softening U.S. completions market and cautious rig activity. While revenue eased slightly, the company maintained solid margins across drilling, completions, and product segments—thanks to strong execution, disciplined capital management, and steady demand for its high-efficiency, gas-powered frac fleets.

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.