HOUSTON, TX / ACCESSWIRE / August 3, 2022 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) at present reported that for the month of July 2022, the Firm had a mean of 126 drilling rigs working in the USA.
Common drilling rigs working reported within the Firm’s month-to-month bulletins characterize the common variety of the Firm’s drilling rigs that had been incomes income underneath a drilling contract in the USA. The Firm cautioned that quite a few elements along with common drilling rigs working can affect the Firm’s working outcomes and {that a} explicit development within the variety of drilling rigs working could or could not point out a development in or be indicative of the Firm’s monetary efficiency. The Firm intends to proceed offering month-to-month updates on drilling rigs working shortly after the top of every month.
About Patterson-UTI
Patterson-UTI is a number one supplier of oilfield providers and merchandise to grease and pure fuel exploration and manufacturing firms in the USA and different choose nations, together with contract drilling, stress pumping and directional drilling providers. For extra info, go to www.patenergy.com.
Contact:
Mike Drickamer
Vice President, Investor Relations
(281) 765-7170
Cautionary Assertion Relating to Ahead-Wanting Statements
This press launch incorporates forward-looking statements that are protected as forward-looking statements underneath the Non-public Securities Litigation Reform Act of 1995 that aren’t restricted to historic info, however mirror Patterson-UTI’s present beliefs, expectations or intentions concerning future occasions. Phrases akin to “anticipate,” “consider,” “budgeted,” “proceed,” “might,” “estimate,” “anticipate,” “intend,” “could,” “plan,” “predict,” “potential,” “undertaking,” “pursue,” “ought to,” “technique,” “goal,” or “will,” and related expressions are meant to establish such forward-looking statements. The statements on this press launch that aren’t historic statements, together with statements concerning Patterson-UTI’s future expectations, beliefs, plans, goals, monetary circumstances, assumptions or future occasions or efficiency that aren’t historic info, are forward-looking statements throughout the which means of the federal securities legal guidelines. These statements are topic to quite a few dangers and uncertainties, a lot of that are past Patterson-UTI’s management, which might trigger precise outcomes to vary materially from the outcomes expressed or implied by the statements. These dangers and uncertainties embody, however usually are not restricted to: hostile oil and pure fuel trade circumstances, together with on account of financial repercussions from the COVID-19 pandemic; international financial circumstances; volatility in buyer spending and in oil and pure fuel costs that might adversely have an effect on demand for Patterson-UTI’s providers and their related impact on charges; extra availability of land drilling rigs, stress pumping and directional drilling gear, together with on account of reactivation, enchancment or building; competitors and demand for Patterson-UTI’s providers; the affect of the continued battle in Ukraine; energy and monetary sources of rivals; utilization, margins and deliberate capital expenditures; liabilities from operational dangers for which Patterson-UTI doesn’t have and obtain full indemnification or insurance coverage; working hazards attendant to the oil and pure fuel enterprise; failure by prospects to pay or fulfill their contractual obligations (notably with respect to fixed-term contracts); the power to comprehend backlog; specialization of strategies, gear and providers and new applied sciences, together with the power to develop and procure passable returns from new expertise; the power to retain administration and subject personnel; lack of key prospects; shortages, delays in supply, and interruptions in provide, of apparatus and supplies; cybersecurity occasions; synergies, prices and monetary and working impacts of acquisitions; the final word timing, final result and outcomes of integrating the operations of Pioneer Vitality Providers into Patterson-UTI; the results of the acquisition on Patterson-UTI, together with Patterson-UTI’s future monetary situation, outcomes of operations, technique and plans; potential hostile reactions or modifications to enterprise relationships ensuing from the acquisition; the failure to comprehend anticipated synergies and different advantages from the acquisition; problem in constructing and deploying new gear; governmental regulation; local weather laws, regulation and different associated dangers; environmental, social and governance practices, together with the notion thereof; environmental dangers and talent to fulfill future environmental prices; technology-related disputes; authorized proceedings and actions by governmental or different regulatory companies; the power to successfully establish and enter new markets; climate; working prices; growth and improvement tendencies of the oil and pure fuel trade; capacity to acquire insurance coverage protection on commercially cheap phrases; monetary flexibility; rate of interest volatility; hostile credit score and fairness market circumstances; availability of capital and the power to repay indebtedness when due; inventory value volatility; and compliance with covenants underneath Patterson-UTI’s debt agreements.
Further info regarding elements that might trigger precise outcomes to vary materially from these within the forward-looking statements is contained occasionally in Patterson-UTI’s SEC filings. Patterson-UTI’s filings could also be obtained by contacting Patterson-UTI or the SEC or by Patterson-UTI’s web site at https://www.patenergy.com or by the SEC’s Digital Knowledge Gathering and Evaluation Retrieval System (EDGAR) at https://www.sec.gov. Patterson-UTI undertakes no obligation to publicly replace or revise any forward-looking assertion.
SOURCE: Patterson-UTI Administration Providers, LLC
View supply model on accesswire.com:
https://www.accesswire.com/710629/Patterson-UTI-Studies-Drilling-Exercise-for-July-2022
