Patterson-UTI Energy Inc

NASDAQ:PTEN   3:59:55 PM EDT
8.06
-0.20 (-2.42%)
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Patterson-Uti Energy Reports Financial Results For The Three Months Ended March 31, 2021

Published: 04/29/2021 10:10 GMT
Patterson-UTI Energy Inc (PTEN) - Patterson-uti Energy Reports Financial Results for the Three Months Ended March 31, 2021.
Q1 Loss per Share $0.57.
Q1 Revenue $241 Million.
In Contract Drilling, Average Rig Count for Q1 Improved to 69 Rigs From 62 Rigs in Q4.
Expect Our Rig Count Will Reach Approximately 80 Rigs Over Next Three Months.
Rig Count Ended Q1 at 71 Rigs; Activated Two Rigs in Q2.
Expect to Average 73 Rigs for Q2.
Average Rig Margin per Day for Q1 of $8,750, Included a Benefit of $6.0 Million, Or $960 per Day.
Expect Average of 39 Rigs Operating Under Term Contracts During Q2.
Financial Results for Three Months Ended March 31, 2020 Include Pre-tax, Non-cash Charges Totaling $406 Million.
Sees Average of 27 Rigs Operating Under Term Contracts During Four Quarters Ending March 31, 2022.
Q1 Earnings per Share View $-0.56, Revenue View $239.8 Million -- Refinitiv Ibes Data (analyst estimates).