PTEN Patterson UTI Energy (PTEN) Q1 FY26 earnings call
Patterson-UTI reported Q1 FY26 results reflecting strong field execution amidst a shifting commodity outlook. The company anticipates an inflection in U.S. shale activity, particularly in the second half of the year, driven by higher oil prices. Management emphasized capital discipline, strategic investments in natural gas-powered frac fleets and rig upgrades, and a focus on improving returns in a tightening market before adding significant capacity.
You’re reading a preview. Opening the full call uses 1 concall credit.
Sign in to use your monthly call allowance.
PTEN operating KPIs by quarter
| KPI | This call Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|
| Operating days US contract drilling | 8,301In US contract drilling, we totaled 8,301 operating days in the quarter, with an average operating rig count of 92 rigs.Source: earnings call transcript | 8,361In US contract drilling, we recorded 8,361 operating days during the quarter and averaged 92 operating rigs.Source: earnings call transcript | +0.7% |
| Average operating rig count US contract drilling | 92In US contract drilling, we totaled 8,301 operating days in the quarter, with an average operating rig count of 92 rigs.Source: earnings call transcript | 92In US contract drilling, we recorded 8,361 operating days during the quarter and averaged 92 operating rigs.Source: earnings call transcript | 0% |
| Capital expenditures Drilling Services | $54MDuring the first quarter, total CapEx was $117 million, including $54 million in drilling services, $45 million in completion services, $16 million in drilling products and $1 million in other in corporate.Source: earnings call transcript | $60MThat amount included $60 million in drilling services, $75 million in completion services, $19 million in Drilling Products and $2 million in other and corporate.Source: earnings call transcript | +11.1% |
| Capital expenditures Completion Services | $45MDuring the first quarter, total CapEx was $117 million, including $54 million in drilling services, $45 million in completion services, $16 million in drilling products and $1 million in other in corporate.Source: earnings call transcript | $75MThat amount included $60 million in drilling services, $75 million in completion services, $19 million in Drilling Products and $2 million in other and corporate.Source: earnings call transcript | +66.7% |
| Capital expenditures Drilling Products | $16MDuring the first quarter, total CapEx was $117 million, including $54 million in drilling services, $45 million in completion services, $16 million in drilling products and $1 million in other in corporate.Source: earnings call transcript | $19MThat amount included $60 million in drilling services, $75 million in completion services, $19 million in Drilling Products and $2 million in other and corporate.Source: earnings call transcript | +18.8% |
| Capital expenditures Other and corporate | $1MDuring the first quarter, total CapEx was $117 million, including $54 million in drilling services, $45 million in completion services, $16 million in drilling products and $1 million in other in corporate.Source: earnings call transcript | $2MThat amount included $60 million in drilling services, $75 million in completion services, $19 million in Drilling Products and $2 million in other and corporate.Source: earnings call transcript | +100% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.