{"id":449213,"date":"2021-03-03T06:03:36","date_gmt":"2021-03-03T11:03:36","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=449213"},"modified":"2021-03-03T06:03:36","modified_gmt":"2021-03-03T11:03:36","slug":"patterson-uti-reports-drilling-activity-for-february-2021","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/patterson-uti-reports-drilling-activity-for-february-2021\/","title":{"rendered":"Patterson-UTI Reports Drilling Activity for February 2021"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n HOUSTON<\/span>, March 3, 2021<\/span> \/PRNewswire\/ —\u00a0PATTERSON-UTI ENERGY, INC. <\/b>(NASDAQ: PTEN)\u00a0today reported that for the month of February 2021<\/span>, the Company had an average of 69 drilling rigs operating.\u00a0 \u00a0For the two months ended February 28, 2021<\/span>, the Company had an average of 68 drilling rigs operating. \u00a0\u00a0<\/p>\n

Average drilling rigs operating reported in the Company’s monthly announcements represent the average number of the Company’s drilling rigs that were earning revenue under a drilling contract.\u00a0 The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company’s operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company’s financial performance.\u00a0 The Company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.<\/p>\n

\n About Patterson-UTI<\/b>\n <\/p>\n

Patterson-UTI is a leading provider of oilfield services and products to oil and natural gas exploration and production companies in the United States<\/span>, including contract drilling, pressure pumping and directional drilling services.\u00a0 For more information, visit www.patenergy.com<\/a>.\u00a0\u00a0 <\/p>\n

\n
\n Cautionary Statement Regarding Forward-Looking Statements<\/i>
\n <\/b>\n <\/p>\n

\n This press release contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are not limited to historical facts, but reflect Patterson-UTI’s current beliefs, expectations or intentions regarding future events.\u00a0 Words such as “anticipate,” “believe,” “budgeted,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “potential,” “project,” “pursue,” “should,” “strategy,” “target,” or “will,” and similar expressions are intended to identify such forward-looking statements.\u00a0 The statements in this press release that are not historical statements, including statements regarding Patterson-UTI’s future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws.\u00a0 These statements are subject to numerous risks and uncertainties, many of which are beyond Patterson-UTI’s control, which could cause actual results to differ materially from the results expressed or implied by the statements.\u00a0 These risks and uncertainties include, but are not limited to: adverse oil and natural gas industry conditions; including the rapid decline in crude oil prices as a result of economic repercussions from the COVID-19 pandemic; global economic conditions; volatility in customer spending and in oil and natural gas prices that could adversely affect demand for Patterson-UTI’s services and their associated effect on rates; excess availability of land drilling rigs, pressure pumping and directional drilling equipment, including as a result of reactivation, improvement or construction; competition and demand for Patterson-UTI’s services; strength and financial resources of competitors; utilization, margins and planned capital expenditures; liabilities from operational risks for which Patterson-UTI does not have and receive full indemnification or insurance; operating hazards attendant to the oil and natural gas business; failure by customers to pay or satisfy their contractual obligations (particularly with respect to fixed-term contracts); the ability to realize backlog; specialization of methods, equipment and services and new technologies, including the ability to develop and obtain satisfactory returns from new technology; the ability to retain management and field personnel; loss of key customers; shortages, delays in delivery, and interruptions in supply, of equipment and materials; cybersecurity events; synergies, costs and financial and operating impacts of acquisitions; difficulty in building and deploying new equipment; governmental regulation; climate legislation, regulation and other related risks; environmental, social and governance practices, including the perception thereof; environmental risks and ability to satisfy future environmental costs; technology-related disputes; legal proceedings and actions by governmental or other regulatory agencies; the ability to effectively identify and enter new markets; weather; operating costs; expansion and development trends of the oil and natural gas industry; ability to obtain insurance coverage on commercially reasonable terms; financial flexibility; interest rate volatility; adverse credit and equity market conditions; availability of capital and the ability to repay indebtedness when due; stock price volatility; and compliance with covenants under Patterson-UTI’s debt agreements.<\/i>\n <\/p>\n

\n Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in Patterson-UTI’s SEC filings.\u00a0 Patterson-UTI’s filings may be obtained by contacting Patterson-UTI or the SEC or through Patterson-UTI’s website at http:\/\/www.patenergy.com<\/a> or through the SEC’s Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http:\/\/www.sec.gov<\/a>.\u00a0 Patterson-UTI undertakes no obligation to publicly update or revise any forward-looking statement.<\/i>\n <\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/patterson-uti-reports-drilling-activity-for-february-2021-301239031.html<\/a><\/p>\n

SOURCE PATTERSON-UTI ENERGY, INC.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire HOUSTON, March 3, 2021 \/PRNewswire\/ —\u00a0PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN)\u00a0today reported that for the month of February 2021, the Company had an average of 69 drilling rigs operating.\u00a0 \u00a0For the two months ended February 28, 2021, the Company had an average of 68 drilling rigs operating. \u00a0\u00a0 Average drilling rigs operating reported in the Company’s monthly announcements represent the average number of the Company’s drilling rigs that were earning revenue under a drilling contract.\u00a0 The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company’s operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the … <\/p>\n

Continue reading “Patterson-UTI Reports Drilling Activity for February 2021”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-449213","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nPatterson-UTI Reports Drilling Activity for February 2021 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/patterson-uti-reports-drilling-activity-for-february-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Patterson-UTI Reports Drilling Activity for February 2021 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire HOUSTON, March 3, 2021 \/PRNewswire\/ —\u00a0PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN)\u00a0today reported that for the month of February 2021, the Company had an average of 69 drilling rigs operating.\u00a0 \u00a0For the two months ended February 28, 2021, the Company had an average of 68 drilling rigs operating. \u00a0\u00a0 Average drilling rigs operating reported in the Company’s monthly announcements represent the average number of the Company’s drilling rigs that were earning revenue under a drilling contract.\u00a0 The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company’s operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the … Continue reading "Patterson-UTI Reports Drilling Activity for February 2021"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/patterson-uti-reports-drilling-activity-for-february-2021\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-03T11:03:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=DA96629&sd=2021-03-03\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/patterson-uti-reports-drilling-activity-for-february-2021\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/patterson-uti-reports-drilling-activity-for-february-2021\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Patterson-UTI Reports Drilling Activity for February 2021\",\"datePublished\":\"2021-03-03T11:03:36+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/patterson-uti-reports-drilling-activity-for-february-2021\\\/\"},\"wordCount\":743,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/patterson-uti-reports-drilling-activity-for-february-2021\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=DA96629&sd=2021-03-03\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/patterson-uti-reports-drilling-activity-for-february-2021\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/patterson-uti-reports-drilling-activity-for-february-2021\\\/\",\"name\":\"Patterson-UTI Reports Drilling Activity for February 2021 - 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