HOUSTON, April 2, 2015 /PRNewswire/
-- PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN) today
reported that for the month of March
2015, the Company had an average of 142 drilling rigs
operating in the United States and
four rigs in Canada. For the three months ended March 31, 2015, the Company had an average of 165
drilling rigs operating in the United
States and eight rigs in Canada.
Average drilling rigs operating reported in the Company's
monthly announcements represent the average number of the Company's
drilling rigs that were operating under a drilling contract.
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. The Company intends to
continue providing monthly updates on drilling rigs operating
shortly after the end of each month.
About Patterson-UTI
Patterson-UTI Energy, Inc. subsidiaries provide onshore contract
drilling and pressure pumping services to exploration and
production companies in North America. Patterson-UTI Drilling
Company LLC and its subsidiaries operate land-based drilling rigs
in oil and natural gas producing regions of the continental
United States and western
Canada. Universal Pressure Pumping, Inc. and Universal Well
Services, Inc. provide pressure pumping services primarily in
Texas and the Appalachian
region.
Location information about the Company's drilling rigs and their
individual inventories is available through the Company's website
at www.patenergy.com.
Statements made in this press release which state the
Company's or management's intentions, beliefs, expectations or
predictions for the future are forward-looking statements. It is
important to note that actual results could differ materially from
those discussed in such forward-looking statements. Important
factors that could cause actual results to differ materially
include, but are not limited to, volatility in customer spending
and in oil and natural gas prices, which could adversely affect
demand for our services and their associated effect on rates,
utilization, margins and planned capital expenditures; global
economic conditions; excess availability of land drilling rigs and
pressure pumping equipment, including as a result of reactivation
or construction; equipment specialization and new technologies;
adverse industry conditions; adverse credit and equity market
conditions; difficulty in building and deploying new equipment;
difficulty in integrating acquisitions; shortages, delays in
delivery and interruptions of supply of equipment, supplies and
materials; weather; loss of, or reduction in business with, key
customers; liabilities from operations; ability to effectively
identify and enter new markets; governmental regulation; ability to
realize backlog; and ability to retain management and field
personnel. 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 the
Company's SEC filings, which may be obtained by contacting the
Company or the SEC. These filings are also available through the
Company's web site at http://www.patenergy.com or through the SEC's
Electronic Data Gathering and Analysis Retrieval System (EDGAR) at
http://www.sec.gov. We undertake no obligation to publicly update
or revise any forward-looking statement.
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visit:http://www.prnewswire.com/news-releases/patterson-uti-reports-drilling-activity-for-march-2015-300060550.html
SOURCE PATTERSON-UTI ENERGY, INC.