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HOUSTON - Patterson-UTI Energy, Inc. (NASDAQ:PTEN), a $2.1 billion market cap drilling services provider currently trading at $5.56 per share, reported an average of 93 drilling rigs operating in the United States during September 2025, according to a press release statement issued Friday.
The contract drilling services provider also disclosed that for the third quarter ended September 30, 2025, it maintained an average of 95 drilling rigs operating in the U.S. According to InvestingPro analysis, while the company shows strong liquidity with current assets exceeding short-term obligations, it faces profitability challenges in the current environment.
The company noted that the reported figures represent the average number of drilling rigs that were earning revenue under drilling contracts in the United States during the specified periods.
Patterson-UTI cautioned that numerous factors beyond rig count can impact the company’s financial performance, and that trends in operating rig numbers may not necessarily indicate trends in the company’s financial results.
The Houston-based firm stated it plans to continue providing monthly updates on its drilling rig operations shortly after each month’s end.
Patterson-UTI describes itself as a provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and select other countries. Its services include contract drilling, integrated well completion, directional drilling, and specialized drill bit solutions.
In other recent news, Patterson-UTI Energy reported an average of 94 drilling rigs operating in the United States during August 2025, following a previous report of 98 rigs in July. This indicates a slight decrease in their operational activity over the summer months. Additionally, Stifel has reiterated its Buy rating for Patterson-UTI Energy, highlighting improvements in customer satisfaction metrics, particularly the Net Promoter Score for NexTier, which has risen above industry averages. Conversely, CFRA has downgraded Patterson-UTI Energy to a Sell rating, citing challenges in the energy services sector and reduced near-term contract coverage. The firm also lowered its price target for the company, reflecting concerns over ongoing headwinds in contract drilling and fracking work. In a separate development, Leslie Beyer, a board member of Patterson-UTI, has resigned following her confirmation by the U.S. Senate as Assistant Secretary for Land and Minerals Management at the U.S. Department of the Interior. These developments provide a mixed picture for the company, with positive customer feedback but challenges in the broader market.
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