About Patterson-UTI Energy
Patterson-UTI Energy is a company based in Houston (United States) founded in 1978.. The company has 9,200 employees as of December 31, 2024. Patterson-UTI Energy has completed 4 acquisitions, including MS Energy Services, Pioneer Energy Services and Superiorqc. Patterson-UTI Energy offers products and services including Drilling Services and Completion Solutions.
- Headquarter Houston, United States
- Employees 9200 as on 31 Dec, 2024
- Stage Public
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Sectors
Industrial Goods & Manufacturing
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Patterson-Uti Energy, Inc.
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Annual Revenue
$5.38 B29.7as on Dec 31, 2024
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Net Profit
$-968.03 M-493.04as on Dec 31, 2024
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EBITDA
$1.19 B2.18as on Dec 31, 2024
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Latest Funding Round
$2.67 M (USD), Post-IPO
Oct 25, 2018
- Investors
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Employee Count
9200
as on Dec 31, 2024
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Investments & Acquisitions
MS Energy Services
& 3 more
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IPO & Listings of Patterson-UTI Energy
Patterson-UTI Energy is a publicly listed company on the NASDAQ with ticker symbol PTEN in USA, operating in the Industrial services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Patterson-UTI Energy
Patterson-UTI Energy offers a comprehensive portfolio of products and services, including Drilling Services and Completion Solutions. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Drilling services are delivered by Patterson-UTI to enhance efficiency in oil and gas extraction through proven rig designs and software solutions.
Completion solutions are offered by Patterson-UTI to support production acceleration in demanding basins while incorporating sustainable practices.
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Software Development Team
32 people
Leadership Team
21 people
Human Resources and Administration
16 people
Finance and Accounting
13 people
Operations Team
8 people
Sales and Marketing
8 people
Legal and Compliance
4 people
Senior Team
4 people
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Funding Insights of Patterson-UTI Energy
- Total Funding Total Funding
- Total Rounds 5
- Last Round Post-IPO — $2.7M
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First Round
First Round
(05 Oct 2010)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Oct, 2018 | Amount | Post-IPO - Patterson-UTI Energy | Valuation |
investors |
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| Jan, 2018 | Amount | Debt – Conventional - Patterson-UTI Energy | Valuation |
investors |
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| Mar, 2015 | Amount | Debt – Conventional - Patterson-UTI Energy | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Patterson-UTI Energy
Patterson-UTI Energy has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Wells Fargo. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Diverse financial services and online banking are provided to clients.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Patterson-UTI Energy
Patterson-UTI Energy has strategically engaged in corporate development activities, having acquired 4 companies. Notable acquisitions include MS Energy Services, Pioneer Energy Services and Superiorqc. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Manufacturer of polycrystalline diamond compact drill bits
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2005 | ||||
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Directional drilling services are provided in onshore US basins.
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1980 | ||||
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Onshore contract drilling & production services provider
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1968 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Patterson-UTI Energy
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Patterson-Uti Energy Comparisons
Competitors of Patterson-UTI Energy
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Patterson-Uti Energy
Frequently Asked Questions about Patterson-UTI Energy
When was Patterson-UTI Energy founded?
Patterson-UTI Energy was founded in 1978 and raised its 1st funding round 32 years after it was founded.
Where is Patterson-UTI Energy located?
Patterson-UTI Energy is headquartered in Houston, United States. It is registered at Houston, Texas, United States.
Who is the current CEO of Patterson-UTI Energy?
Jerry Winchester is the current CEO of Patterson-UTI Energy.
How many employees does Patterson-UTI Energy have?
As of Dec 31, 2024, the latest employee count at Patterson-UTI Energy is 9,200.
What is the annual revenue of Patterson-UTI Energy?
Annual revenue of Patterson-UTI Energy is $5.38B as on Dec 31, 2024.
What does Patterson-UTI Energy do?
Patterson-UTI Energy was founded in 1978 and is headquartered in Houston, United States. Polycrystalline diamond compact drill bits are designed and produced for oil and gas extraction operations. Various bit designs are provided to address diverse drilling applications and environmental challenges. Emphasis is placed on drilling efficiency and penetration rates. Manufacturing and service facilities are operated to facilitate global production and support.
What products or services does Patterson-UTI Energy offer?
Patterson-UTI Energy offers Drilling Services and Completion Solutions.
Is Patterson-UTI Energy publicly traded?
Yes, Patterson-UTI Energy is publicly traded on NASDAQ under the ticker symbol PTEN.
How many acquisitions has Patterson-UTI Energy made?
Patterson-UTI Energy has made 4 acquisitions, including MS Energy Services, Pioneer Energy Services, and Superiorqc.
Who are Patterson-UTI Energy's investors?
Patterson-UTI Energy has 1 investor. Key investors include Wells Fargo.
What is Patterson-UTI Energy's ticker symbol?
The ticker symbol of Patterson-UTI Energy is PTEN on NASDAQ.