Patterson-UTI expects U.S. drilling activity to strengthen into 2027 as public operators add rigs, with rising demand for advanced equipment supporting higher day rates and tightening available rig capacity. OilGasLeads’ Patterson YTD dataset contains 1,530 records across 12 states and 67 accounts, led by the Permian Basin with 561 records and Mewbourne Oil Company with 236.
OilGasLeads identified 1,294 year-to-date well records associated with Patterson rigs, led by 477 in the Permian Basin and 301 in the Marcellus–Utica. The company’s broad drilling and completion exposure positions it to benefit if global supply concerns drive additional North American activity.
Patterson-UTI emphasized that demand is shifting toward high-spec drilling rigs capable of handling deeper, longer, and more complex wells, creating a competitive advantage for contractors with advanced equipment. At the same time, the company is prioritizing natural gas-powered (Emerald) frac fleets, which are in high demand, command premium pricing, and represent a long-term shift away from older diesel equipment toward more efficient, higher-return technologies.
Patterson-UTI rigs were heavily concentrated in the Permian Basin in 2025, supporting major development programs for operators such as Mewbourne Oil Company, Chevron U.S.A. Inc., and Matador Resources. Most rigs maintained efficient pad-drilling cycles of roughly 15–20 days per well, reflecting the continued shift toward high-throughput, factory-style shale development across the Delaware and Midland basins.
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’s 2025 rig activity provides a clear window into this shift. While overall drilling remains flat nationally, Patterson’s high-spec fleet continues to see strong utilization driven by large-scale Permian Basin operators executing manufacturing-style development programs. This analysis reviews where Patterson’s rigs are working, which operators are driving activity, and what the data reveals about the evolving economics of modern shale drilling.
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.
