PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of October, the Company had an average of 104 drilling rigs operating in the United States.
Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs that were earning revenue under a drilling contract in the United States.
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.
Patterson-UTI is a leading provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling services, integrated well completion services and directional drilling services in the United States, and specialized drill bit solutions in the United States, Middle East and many other regions around the world.
PTEN shares accumulated 22 cents, or 2.2%, to $10.17.
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