A steady, monthly improvement in Patterson-UTI Energy Inc.’s (PTEN) U.S. onshore rig count has been evident since May, with the company’s average in October expected to increase to 63 from 55 at the end of June, CEO Andy Hendricks said Thursday. The Houston-based onshore drilling expert, which provides contract drilling and pressure pumping services across North America, also is seeing a continued transition to higher specification (spec) rigs, particularly in the Permian Basin, which means the market is tightening, executives said during a conference call to discuss third quarter performance.
展开▼
