Patterson-UTI reports drilling activity for February 2013

Monday, March 4, 2013
  • For the two months ended February 28, 2013, the Company had an average of 199 drilling rigs operating, including 188 rigs in the United States and 11 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.

Patterson-UTI (NASDAQ: PTEN) reported that for the month of February 2013, the Company had an average of 201 drilling rigs operating, including 189 rigs in the United States and 12 rigs in Canada. For the two months ended February 28, 2013, the Company had an average of 199 drilling rigs operating, including 188 rigs in the United States and 11 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.

This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser. More

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