# Patterson-UTI

> Patterson-UTI Energy supplies oil and gas producers with contract drilling, directional services, well completions, drill bits, power systems and operational software. Its portfolio connects APEX rigs, NexTier completion crews, Ulterra bits and specialist drilling and electrical businesses, with U.S. operations and selected international markets.

- **Founded:** 1978
- **Headquarters:** Houston, United States
- **Founders:** Glenn Patterson (Co-founder of predecessor Patterson Energy; former president and COO), Cloyce A. Talbott (Co-founder of predecessor Patterson Energy; former CEO)
- **Products:** APEX rig fleet, NexTier completion services, Ulterra PDC drill bits, MS Directional, Superior QC
- **Notable:** Combined Patterson Energy and UTI Energy in 2001., Completed Ulterra acquisition on August 14, 2023, and NexTier merger on September 1, 2023., Built a portfolio spanning drilling, completions, drill bits, directional services, power and digital operations.

## Products & services

- **APEX rig fleet** — Contract drilling rigs and crews with automation and pad-drilling capabilities.
- **NexTier completion services** — Hydraulic fracturing, wireline, logistics, natural-gas fueling and completion optimization. Became part of Patterson-UTI in 2023.
- **Ulterra PDC drill bits** — Engineered drill bits for oil and gas wells; acquired in August 2023.
- **MS Directional** — Well planning, directional drilling, MWD, downhole motors and remote operations.
- **Superior QC** — Survey validation, wellbore guidance and navigation using data analysis and magnetic modeling.
- **CORTEX** — Rig-control platform and applications for connection sequencing, oscillation, downlinking, drilling, managed pressure drilling and other operations.
- **PTEN Digital Performance Center and REX** — Remote operational support, real-time data, custom rules and alerts, and customer dashboards.
- **Current Power** — Electrical systems, automation, power distribution, battery storage and hybrid power management.

## Achievements

- Combined Patterson Energy and UTI Energy in 2001.
- Completed Ulterra acquisition on August 14, 2023, and NexTier merger on September 1, 2023.
- Built a portfolio spanning drilling, completions, drill bits, directional services, power and digital operations.
- Reported FY2025 revenue of approximately $4.83 billion.

## Latest updates

- **2026-07** — Reported Q2 revenue of about $1.23 billion, a 10% sequential increase, and a net loss attributable to common stockholders of about $20 million. Announced exit from Colombian contract drilling operations, with an associated approximately $21 million non-cash charge.
- **2026-01** — Announced multi-year agreement to lease two APEX 1500 rigs to Archer for Vaca Muerta, with start-up expected by mid-2026 at announcement; expectation is not treated as confirmation of deployment.
- **2026-02** — FY2025 results showed revenue of about $4.83 billion versus $5.38 billion in FY2024.

## Links

- Website: https://patenergy.com
- LinkedIn: https://www.linkedin.com/company/patterson-uti/
- Twitter/X: https://twitter.com/patterson_uti
- Instagram: https://www.instagram.com/patterson_uti/
- Facebook: https://www.facebook.com/PattersonUTI/

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Profile page: https://yespress.io/patterson-uti
Published by YesPress — https://yespress.io
Last updated: 2026-10-24