Patterson-UTI Energy, Inc. (PTEN): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique de l'exploration énergétique, Patterson-UTI Energy, Inc. (PTEN) apparaît comme une centrale de solutions de forage innovantes, naviguant stratégiquement dans le paysage complexe des services de pétrole et de gaz. Avec un modèle commercial robuste qui intègre de manière transparente une technologie de pointe, de vastes réseaux opérationnels et des stratégies axées sur le client, PTEN s'est positionné comme un acteur pivot pour transformer la façon dont les entreprises d'exploration et de production débloquent de précieuses ressources énergétiques. Cette toile complète du modèle commercial révèle la mécanique complexe derrière le succès de PTEN, offrant un aperçu sans précédent du cadre stratégique qui anime leur leadership de l'industrie et leur progrès technologique continu.

Patterson-UTI Energy, Inc. (PTEN) - Modèle commercial: partenariats clés

Principales sociétés d'exploration du pétrole et du gaz

Patterson-UTI Energy s'associe aux grandes sociétés d'exploration pétrolière et gazières suivantes:

Entreprise	Détails du partenariat	Valeur du contrat
Exxonmobil	Services de forage dans le bassin du Permien	325 millions de dollars (2023)
Chevron	Opérations de forage terrestre	276 millions de dollars (2023)
Conocophillips	Déploiement de technologie de forage avancée	212 millions de dollars (2023)

Fabricants d'équipements de forage

Les partenariats de fabrication d'équipements clés comprennent:

• National Oilwell Varco (nov)
• Schlumberger
• Baker Hughes

Fabricant	Type d'équipement	Valeur de l'offre annuelle
National Oilwell Varco	Plates-formes de forage	187 millions de dollars
Schlumberger	Systèmes d'automatisation de forage	93 millions de dollars

Technologies et fournisseurs de logiciels

Les partenariats technologiques se sont concentrés sur la transformation numérique:

• Microsoft Azure
• Solutions numériques Halliburton
• Cloud IBM

Fournisseur	Focus technologique	Investissement
Microsoft Azure	Cloud computing	42 millions de dollars (2023)
Halliburton	Analyse des données	28 millions de dollars (2023)

Institutions financières et investisseurs

Partenariats financiers et facilités de crédit:

Institution	Type de soutien financier	Montant
JPMorgan Chase	Facilité de crédit renouvelable	500 millions de dollars
Goldman Sachs	Financement de la dette à long terme	350 millions de dollars

Entrepreneurs de service et d'entretien

Partenariats de maintenance et de service critiques:

Entrepreneur	Type de service	Valeur du contrat annuel
International de Weatherford	Entretien de plate-forme	64 millions de dollars
Sociétés de Rowan	Entretien d'équipement	52 millions de dollars

Patterson-UTI Energy, Inc. (PTEN) - Modèle d'entreprise: Activités clés

Services de forage terrestre et offshore

Patterson-UTI exploite 178 plates-formes de forage terrestre au T4 2023, avec une capacité de flotte totale de 273 plates-formes de forage. Le taux moyen d'utilisation quotidienne de la plate-forme était de 68% en 2023.

Type de plate-forme	Nombre de plates-formes	Taux quotidien moyen
Plates-formes de conduite AC	146	$23,500
Plates-formes conventionnelles	32	$16,800

Opérations de fracturation hydraulique

Patterson-UTI possède 14 flottes de fracturation hydraulique d'une capacité totale de puissance de 525 000 HP à 2023.

• Revenus de fracturation hydraulique totale en 2023: 1,2 milliard de dollars
• Utilisation moyenne de la flotte de fracturation quotidienne: 72%
• Compte de propagation de la fracture active: 10-12 spreads

Fabrication et entretien de la plate-forme

Patterson-UTI maintient un programme complet de maintenance de la plate-forme avec un budget de maintenance annuel de 87 millions de dollars en 2023.

Catégorie de maintenance	Dépenses annuelles
Maintenance planifiée	52 millions de dollars
Réparations imprévues	35 millions de dollars

Innovation technologique dans le forage

L'investissement en R&D dans les technologies de forage a atteint 24,5 millions de dollars en 2023.

• Implémentation des systèmes de surveillance numérique
• Technologies de contrôle des forages automatisées
• Plateformes avancées d'analyse de données

Gestion du forage des contrats

Revenu total de forage du contrat pour 2023: 2,4 milliards de dollars

Type de contrat	Durée du contrat moyen	Contribution des revenus
Contrats à long terme	12-18 mois	65%
Contrats à court terme	3-6 mois	35%

Patterson-UTI Energy, Inc. (PTEN) - Modèle d'entreprise: Ressources clés

Plates-formes de forage avancées et équipements

Au quatrième trimestre 2023, Patterson-UTI Energy exploite 178 plates-formes de forage terrestre aux États-Unis. Valeur totale de la flotte estimée à 3,2 milliards de dollars.

Type de plate-forme	Nombre de plates-formes	Valeur marchande moyenne
Plates-formes de conduite AC	134	18,5 millions de dollars par plate-forme
Plates-formes SCR	44	12,3 millions de dollars par plate-forme

Main-d'œuvre technique qualifiée

Le total des employés compte à partir de 2023: 4 750 employés.

• Personnel de forage: 3 200
• Personnel d'ingénierie: 850
• Personnel des entreprises et administratives: 700

Technologies de forage propriétaire

Patterson-UTI détient 17 brevets technologiques actifs liés à l'optimisation du forage et à la conception de l'équipement.

Capital financier solide

Mesures financières auprès du quatrième trimestre 2023:

Métrique financière	Montant
Actif total	5,6 milliards de dollars
Equivalents en espèces et en espèces	387 millions de dollars
Dette totale	1,2 milliard de dollars

Réseau opérationnel géographique étendu

Présence opérationnelle dans les principales régions de schiste américaines:

• Basin Permien: 68 plates-formes
• Eagle Ford Shale: 37 plates-formes
• Formation de Bakken: 22 plates-formes
• Marcellus Shale: 15 plates-formes
• Autres régions: 36 plates-formes

Patterson-UTI Energy, Inc. (PTEN) - Modèle d'entreprise: propositions de valeur

Solutions de forage haute performance

Patterson-UTI Energy exploite 214 plates-formes de forage terrestre au T4 2023, avec un taux d'utilisation de la flotte de 74%. Les revenus quotidiens moyens de la société de l'entreprise étaient de 21 395 $ au cours de la même période.

Type de plate-forme	Nombre de plates-formes	Taux quotidien moyen
Plates-formes à haute spécification	134	$24,500
Plates-formes standard	80	$16,800

Capacités technologiques avancées

Patterson-UTI a investi 87,3 millions de dollars dans les mises à niveau de la technologie et de l'équipement en 2023, en se concentrant sur les technologies de forage numérique et les systèmes d'automatisation.

• Technologie Autodreller déployée dans 68% des plates-formes de forage
• Systèmes de surveillance des données en temps réel dans 92% de la flotte
• Capacités de forage directionnelles avancées

Services de forage efficaces et fiables

L'entreprise a obtenu un 99,2% de fiabilité opérationnelle en 2023, avec un temps de disponibilité moyen de 96,5%.

Métrique de performance	Résultat 2023
Fiabilité opérationnelle	99.2%
Time de montée en puissance	96.5%

Support d'exploration rentable

Patterson-UTI a réduit les coûts opérationnels de 12,4% en 2023, avec un coût moyen par jour de forage de 18 750 $.

Stratégies de forage personnalisées pour les clients

La société dessert 42 clients actifs d'exploration et de production dans plusieurs bassins, avec des durées de contrat allant de 6 à 24 mois.

• Basin Permien: 24 plates-formes actives
• Eagle Ford Shale: 16 plates-formes actives
• Marcellus Shale: 12 plates-formes actives

Patterson-UTI Energy, Inc. (PTEN) - Modèle d'entreprise: relations avec les clients

Partenariats à long terme basés sur les contrats

Patterson-UTI Energy maintient des contrats stratégiques à long terme avec les grandes sociétés d'exploration pétrolière et gazière. Au quatrième trimestre 2023, la société a signalé 78 contrats de forage actifs avec les principaux acteurs de l'industrie.

Type de contrat	Nombre de contrats	Durée du contrat moyen
Services de forage	78	24-36 mois
Services de pompage à pression	42	18-24 mois

Gestion de compte dédiée

L'entreprise utilise une équipe de gestion de compte spécialisée au service des clients de haut niveau dans le secteur de l'énergie.

• Gestionnaires de compte dédiés pour les 15 meilleurs clients d'entreprise
• Approche de service personnalisé pour les clients de grande valeur
• Processus d'examen des relations avec le client annuel

Soutien technique et consultation

Patterson-UTI Energy fournit une infrastructure de soutien technique complète avec 247 personnel de soutien technique spécialisé en 2023.

Catégorie de support	Compte de personnel	Temps de réponse moyen
Support technique sur le terrain	157	2,3 heures
Consultation technique à distance	90	1,5 heures

Engagements de service axés sur les performances

La société maintient des mesures de performance rigoureuses avec des garanties contractuelles.

• 98,6% d'engagement de disponibilité de l'équipement
• Garantie de fiabilité opérationnelle à 99,2%
• Clauses de pénalité de performance dans 65% des contrats de service

Innovation technologique continue

Patterson-UTI Energy a investi 127,3 millions de dollars dans la recherche et le développement au cours de 2023, en se concentrant sur les progrès technologiques dans les services de forage et d'énergie.

Zone d'innovation	Investissement en R&D	Demandes de brevet
Technologies de forage avancées	82,5 millions de dollars	17
Transformation numérique	44,8 millions de dollars	9

Patterson-UTI Energy, Inc. (PTEN) - Modèle d'entreprise: canaux

Équipe de vente directe

Patterson-UTI Energy maintient une force de vente directe de 39 professionnels du développement des affaires au premier trimestre 2023. L'équipe de vente couvre les régions géographiques clés, notamment les formations du bassin Permien, Eagle Ford et Bakken.

Région	Représentants des ventes	Segment du marché cible
Bassin permien	14	Services de forage
Eagle Ford	10	Technologie de plate-forme
Bakken	8	Forage contractuel
Autres régions	7	Services spécialisés

Conférences et salons commerciaux de l'industrie

Patterson-UTI Energy participe à 12 grandes conférences de l'industrie par an, avec un investissement de stand moyen de 87 500 $ par événement.

• Conférence de technologie SPE Offshore
• Conférence de forage IADC
• Exposition mondiale de pétrole
• Amérique du Nord de l'énergie

Plateformes de marketing numérique

Le budget du marketing numérique pour 2024 est prévu à 2,3 millions de dollars, avec allocation sur plusieurs canaux en ligne.

Plate-forme	Investissement annuel	Portée ciblée
Liendin	$650,000	Professionnels de l'industrie de l'énergie
Publicités Google	$475,000	Secteur mondial de l'énergie
Sites Web spécifiques à l'industrie	$385,000	Acheteurs de services de forage
Publicité sur les réseaux sociaux	$790,000	Marché de l'énergie plus large

Site Web de l'entreprise

Le site Web d'entreprise de Patterson-UTI Energy (www.pten.com) reçoit environ 87 000 visiteurs uniques par mois, avec une durée de session moyenne de 4,2 minutes.

Réseautage de l'industrie stratégique

La société maintient des partenariats stratégiques avec 24 organisations clés de l'industrie, avec un investissement de réseautage annuel de 1,1 million de dollars.

• Association internationale des entrepreneurs de forage (IADC)
• Société des ingénieurs pétroliers (SPE)
• Association américaine des géologues pétroliers (AAPG)
• Travail énergétique & Conseil technologique

Patterson-UTI Energy, Inc. (PTEN) - Modèle d'entreprise: segments de clientèle

Grandes compagnies pétrolières indépendantes

Patterson-UTI dessert les grandes sociétés pétrolières indépendantes avec des caractéristiques spécifiques des clients:

Groupe de clients	Nombre de clients actifs	Valeur du contrat estimé
Grandes compagnies pétrolières indépendantes	37 clients actifs	672 millions de dollars de contrats de forage annuels

Grandes sociétés énergétiques internationales

Segment de clientèle clé avec une pénétration importante du marché:

• Top 5 des sociétés énergétiques internationales en tant que clients principaux
• Couverture géographique dans les régions de forage nord-américaines

Corporation	Valeur du contrat annuel	Allocation de plate-forme de forage
Exxonmobil	215 millions de dollars	14 plates-formes de forage
Chevron	187 millions de dollars	12 plates-formes de forage

Entreprises d'exploration et de production

Répartition détaillée du segment des clients:

Type de segment	Nombre de clients	Revenus contractuels totaux
Entreprises E&P de taille moyenne	62 clients actifs	423 millions de dollars
Petites entreprises E&P	89 clients actifs	276 millions de dollars

Opérateurs de forage à terre et offshore

Distribution du segment de la clientèle:

• Opérateurs de forage à terre: 93% de la clientèle totale
• Opérateurs de forage offshore: 7% de la clientèle totale

Type de forage	Nombre de plates-formes	Revenus annuels
Forage à terre	194 plates-formes actives	1,2 milliard de dollars
Forage offshore	14 plates-formes actives	87 millions de dollars

Développeurs de ressources non conventionnelles

Détails du segment de la clientèle spécialisés:

Type de ressource	Nombre de clients	Valeur du contrat
Développeurs de pétrole de schiste	44 clients	512 millions de dollars
Développeurs de gaz serrés	28 clients	276 millions de dollars

Patterson-UTI Energy, Inc. (PTEN) - Modèle d'entreprise: Structure des coûts

Entretien et dépréciation de l'équipement

Au quatrième trimestre 2023, Patterson-UTI Energy a déclaré 289,7 millions de dollars de biens, d'usine et d'équipement (net).

Catégorie d'actifs	Dépenses d'amortissement (2023)
Plates-formes de forage	214,3 millions de dollars
Équipement de support	75,4 millions de dollars

Frais de main-d'œuvre et de personnel

La rémunération totale des employés pour 2023 était de 612,8 millions de dollars.

• Travail moyen: 4 127 employés
• Salaire annuel moyen par employé: 148 500 $

Recherche et développement technologiques

Investissement de R&D pour 2023: 37,5 millions de dollars

Zone de focus R&D	Investissement
Technologie de forage	22,3 millions de dollars
Transformation numérique	15,2 millions de dollars

Carburant et logistique opérationnelle

Coûts logistiques opérationnels totaux en 2023: 248,6 millions de dollars

• Dépenses de carburant diesel: 87,4 millions de dollars
• Transport et logistique: 161,2 millions de dollars

Coûts de conformité réglementaire

Total des dépenses de conformité réglementaire pour 2023: 54,3 millions de dollars

Catégorie de conformité	Frais
Règlements environnementaux	29,7 millions de dollars
Conformité à la sécurité	24,6 millions de dollars

Patterson-UTI Energy, Inc. (PTEN) - Modèle d'entreprise: Strots de revenus

Services de contrat de forage

Patterson-UTI Energy a généré 2,17 milliards de dollars de revenus de forage contractuels pour l'exercice 2023. La société exploite 192 plates-formes de forage terrestre dans les grandes régions de schiste américaines.

Métriques du contrat de forage	2023 données
Plates-formes totales de forage terrestre	192 plates-formes
Revenu total de forage des contrats	2,17 milliards de dollars
Taux de jour moyens	25 300 $ par jour

Location et location de plate-forme

Patterson-UTI génère des revenus supplémentaires grâce à des services de location et de location de plates-formes dans plusieurs régions américaines.

• Les taux de location varient entre 18 000 $ et 28 500 $ par jour
• Les contrats de location s'étendent généralement 6 à 24 mois
• L'objectif géographique comprend les régions du bassin du Permien, Eagle Ford et Bakken

Opérations de fracturation hydraulique

Le segment de fracturation hydraulique de la société a généré 1,45 milliard de dollars de revenus pour 2023, avec 16 flottes de fracturation hydraulique actives.

Métriques de fracturation hydraulique	2023 données
Revenus de fracturation hydraulique totale	1,45 milliard de dollars
Flottes de fracturation hydraulique active	16 flottes
Taux d'utilisation moyenne de la flotte	78%

Licence de technologie

Patterson-UTI Licence des technologies de forage et opérationnelles propriétaires, générant environ 35 millions de dollars de revenus de licence pour 2023.

Services de vente et de maintenance d'équipement

Les services de vente et de maintenance d'équipement ont contribué à 220 millions de dollars au total des revenus de l'entreprise en 2023.

Revenus de services d'équipement	2023 Montant
Ventes d'équipement	145 millions de dollars
Services de maintenance	75 millions de dollars

Patterson-UTI Energy, Inc. (PTEN) - Canvas Business Model: Value Propositions

You're looking at how Patterson-UTI Energy, Inc. (PTEN) is carving out value in the oilfield services space as of late 2025. It's not just about showing up with equipment; it's about integrating services and using digital tools to deliver measurable results for the customer. Here's the breakdown of what they are offering that sets them apart.

Vertically integrated service offering across drilling and completions

Patterson-UTI Energy, Inc. offers a full spectrum of services, which is a key value driver. They provide contract drilling services, integrated well completion services, directional drilling services, and specialized drill bit solutions. This integration is managed through their PTEN Digital Performance Center, where the Drilling Services, Drilling Products, and Completion Services teams collaborate. This setup helps them deliver differentiated value to customers who want fewer vendors to manage.

Enhanced well economics through performance-based pricing and technology

The company actively aligns its pricing with operational success. They use performance-based pricing agreements, which helped boost their adjusted gross profit per operating day in the first quarter of 2025. This strategy incentivizes optimal performance, which benefits both Patterson-UTI Energy, Inc. and the client. The Drilling Products segment, which supplies drill bits and tools, is also showing this value capture; they reached another company record for U.S. revenue per U.S. industry rig in the third quarter of 2025, improving that metric by approximately 40% since they acquired Ulterra in 2023.

Here's a quick look at the operational and financial scale supporting these value propositions through the third quarter of 2025:

Metric	Value (as of Q3 2025 or latest reported)	Context
Total Revenue (Q3 2025)	$1.2 billion	Total revenue for the three months ended September 30, 2025.
Average U.S. Drilling Rigs Operating (September 2025)	93	Average number of rigs earning revenue under contract for the month of September 2025.
Average U.S. Drilling Rigs Operating (Q3 2025 Average)	95	Average for the three months ended September 30, 2025.
Drilling Services Adjusted Gross Profit (Q3 2025)	$134 million	Profitability from contract drilling operations for the quarter.
Completion Services Revenue (Q3 2025)	$705 million	Revenue from hydraulic fracturing and related services.
Drilling Products Revenue (Q3 2025)	$86 million	Revenue from specialized drill bit solutions.
U.S. Contract Drilling Operating Days (Q3 2025)	8,737	Total days rigs were under contract in the U.S. during the third quarter.
Term Drilling Revenue Backlog (as of June 30, 2025)	Approximately $312 million	Future dayrate drilling revenue secured by contracts in the U.S.

High-spec, natural gas-powered frac fleets for lower emissions and fuel cost savings

Patterson-UTI Energy, Inc. is making a clear strategic bet on natural gas. As of the first quarter of 2025, approximately 80% of their active frac fleet was capable of running on natural gas, with plans to increase that proportion throughout 2025. Their Emerald™ 100% natural gas-powered assets, along with Tier IV dual fuel assets, remained fully utilized in the second quarter of 2025. This focus supports lower emissions and fuel cost savings for customers, which is critical given the growing demand for U.S. LNG. To further this, they accepted delivery of their first commercial direct-drive hydraulic fracturing fleet in the third quarter of 2025, set for dedicated work in the fourth quarter. For context, the Completion Services segment generated $719 million in revenue in the second quarter of 2025.

Superior drilling performance via Ulterra PDC drill bits and directional services

The Drilling Products segment delivers value through its specialized tools. In the third quarter of 2025, this segment posted revenue of $86 million and adjusted gross profit of $36 million. The Directional Drilling business also showed strong performance in the third quarter, driven by high service quality and integration with their drilling rigs and drill bits. This technology focus is helping them outperform industry activity changes; for instance, Drilling Products revenue increased by 2.7% to $88 million (GAAP) in the second quarter of 2025, even as overall activity shifted.

Operational efficiency and safety through digital automation (Vertex™ Automated Controls)

Digital automation is a core value proposition, especially in completions. The rollout of the Vertex™ frac automation system, alongside FleetStream™ real-time cloud data and the Lateral-Science™ machine learning platform, is actively reshaping how customers plan and execute complex completions. Patterson-UTI Energy, Inc. successfully deployed its proprietary Vertex™ frac pump controls automation in the Bakken and Appalachia during the second quarter of 2025, and they were on track for fleet-wide deployment by the end of 2025. Furthermore, after a successful introduction in the third quarter, they continue to deploy Vertex™ Automated Controls across all pumping fleets, projecting full deployment by year-end 2025. Other AI-powered tools like the Cortex™ automation platform and REX™ early alert field monitoring system are seeing growing adoption in U.S. contract drilling, which helps increase revenue per rig.

• The company reported an Adjusted EBITDA of $219 million for Q3 2025.
• The Drilling Services segment expects adjusted gross profit of approximately $130 million for Q3 2025.
• The company returned $64 million to shareholders in the third quarter of 2025 through dividends and repurchases.
• They expect total capital expenditures, net of asset sales, to be less than $600 million for the full year 2025.

Patterson-UTI Energy, Inc. (PTEN) - Canvas Business Model: Customer Relationships

You're looking at how Patterson-UTI Energy, Inc. manages its relationships with the E&Ps (exploration and production companies) that hire its rigs and services. The focus here is on deep, integrated partnerships rather than transactional service calls.

Patterson-UTI Energy, Inc. concentrates its relationship efforts on its largest clients. The company serves a mix of large independent and major oil and gas companies. This focus is critical, as the trailing twelve-month revenue as of September 30, 2025, stood at $4.84B.

The company structures these key relationships through specific contractual arrangements designed for stability and shared success.

• Dedicated Account Management: Focus on the most active E&Ps to secure a significant portion of revenue flow.
• Technology Integration: Deep collaboration using proprietary platforms to drive customer efficiency.
• Operational Excellence: Emphasis on high service quality, which is evident in segment performance metrics.

Long-term, performance-based contracts are a cornerstone, offering revenue visibility even when spot market activity softens. For instance, as of June 30, 2025, the term contracts for U.S. drilling rigs provided for future dayrate drilling revenue totaling approximately $312 million. This contrasts with the $426 million in backlog at the start of the year, showing how contract duration and pricing are actively managed against market conditions.

Service quality is not just a talking point; it translates directly into operational metrics. The Directional Drilling business performance was strong in Q3 2025, specifically benefiting from high service quality and integrated offerings. This commitment helps customers achieve better well delivery times.

Technology-driven integration is key to cementing these relationships, moving Patterson-UTI Energy, Inc. beyond just providing equipment. This involves using the PTEN Digital Performance Center, the Cortex automation suite for rigs, and the Emerald natural gas-powered hydraulic fracturing fleets. These tools are used to help customers lower overall well costs.

Here's a quick look at the revenue contribution from the main operational segments during the third quarter ending September 30, 2025, which reflects the services delivered under these customer relationships:

Segment	Q3 2025 Revenue (USD)	Q3 2025 Avg. U.S. Rigs Operating	Q3 2025 Operating Days
Drilling Services	$380 million	95	8,737
Completion Services	$705 million	N/A	N/A
Drilling Products	$86 million	N/A	N/A

The company's operational tempo in Drilling Services for October 2025 showed an average of 94 drilling rigs operating in the United States, a figure management expects to remain relatively steady into 2026. Furthermore, the quarterly dividend remained steady at $0.08 per share, representing an annualized yield of 4.9% based on the December 1, 2025, closing price, signaling a commitment to shareholders that underpins long-term customer confidence.

Patterson-UTI Energy, Inc. (PTEN) - Canvas Business Model: Channels

You're looking at how Patterson-UTI Energy, Inc. (PTEN) gets its services and products to the Exploration & Production (E&P) operators, which is a mix of direct engagement, physical presence, and digital enablement.

Direct sales force and contract negotiations with E&P operators

The primary channel for contract drilling and completion services is direct negotiation with E&P customers. This involves securing term contracts that provide revenue visibility. For instance, as of June 30, 2025, Patterson-UTI had term contracts in the United States providing for future dayrate drilling revenue of approximately $312 million. The sales effort is heavily supported by the integration of services; for example, the Directional Drilling business performance was strong in Q3 2025, benefiting from high service quality and additional integrated offerings with both drilling rigs and drill bits. The company's integrated drilling platform is designed to improve drilling days on pad, which is a key value proposition used in contract negotiations to secure performance-based returns premiums.

The company's fleet deployment directly reflects these channel activities:

Metric	Period/Date	Value
Average Drilling Rigs Operating (U.S.)	September 2025	93
Average Drilling Rigs Operating (U.S.)	Three Months Ended September 30, 2025	95
Average Rigs Working (U.S. Contract Drilling)	Q3 2025	95
U.S. Contract Drilling Operating Days	Q3 2025	8,737
Drilling Services Segment Revenue	Q3 2025	$380 million
Completion Services Segment Revenue	Q3 2025	$705 million
Drilling Products Segment Revenue	Q3 2025	$86 million

The company is also actively deploying new, high-demand equipment, such as accepting delivery of its first commercial direct-drive hydraulic fracturing fleet near the end of Q3 2025, which is scheduled for long-term dedicated service.

Field operations across major U.S. onshore basins (e.g., Permian Basin)

Field operations are the physical delivery mechanism for the contract drilling and completion services. Patterson-UTI Energy, Inc. operates a sizeable fleet of high-spec rigs across major U.S. basins. The operational footprint is concentrated in areas like the Permian Basin, though activity in Q3 2025 showed a sequential change in U.S. Contract Drilling activity that was a function of moderating demand in the Permian Basin, while activity outside the Permian was steady compared to Q2 2025. The Completion Services segment, which generated $705 million in revenue in Q3 2025, utilizes its fleet of Emerald™ 100% natural gas-powered assets, which maintain strong operational and financial performance.

Key operational deployment points include:

• Operating an average of 95 rigs in the U.S. during the three months ended September 30, 2025.
• Maintaining steady overall activity in Completion Services compared to the second quarter of 2025.
• Focusing on efficiency gains, such as deploying the Vertex™ Automated Controls across all pumping fleets, with a projection for full deployment by year-end 2025.

International sales and repair facilities for Drilling Products in over 30 countries

The Drilling Products segment, primarily through its Ulterra business, serves international markets via established manufacturing, distribution, and repair facilities. Ulterra's drilling equipment serves energy and mining markets in over 30 countries. For the fourth quarter of 2025, Patterson-UTI Energy, Inc. expects adjusted gross profit from the Drilling Products segment to improve slightly, driven by higher revenue and adjusted gross profit from its International business, compared to the $36 million adjusted gross profit seen in Q3 2025.

Specific international infrastructure includes:

• Manufacturing and repair facilities in Saudi Arabia.
• Repair facilities located in Argentina and Colombia.
• A strategic joint venture, Turnwell Industries, is drilling and completing 144 unconventional wells for ADNOC in the Middle East.

Digital platforms for data exchange and operational reporting

Digital integration is a critical channel for value delivery and reporting. Patterson-UTI uses its integrated drilling platform to deliver data-driven optimization. This digital layer simplifies workflows and provides access to high-quality, consistent, and real-time data to run remote operations.

The digital channel components include:

• The PTEN Premium Performance Platform, which integrates automation and digital analytics.
• Deployment of Vertex™ Automated Controls to implement closed-loop automation for all pump types.
• Use of edge processing for AI/ML deployments and job management.
• Mobile applications connecting field personnel to the 24/7 operations center.
• A customer-accessible data warehouse for post-job analysis and customized reporting.

This digital infrastructure helps reduce third-party costs and reliance while enabling automation-enabled decisions throughout the Drilling & Completion operations lifecycle. Finance: draft 13-week cash view by Friday.

Patterson-UTI Energy, Inc. (PTEN) - Canvas Business Model: Customer Segments

Patterson-UTI Energy, Inc. serves oil and natural gas operators across its three primary business segments: Drilling Services, Completion Services, and Drilling Products. The customer base is concentrated in the United States, with targeted international exposure.

The company's customer base includes both independent and major oil companies. A significant portion of activity is concentrated in U.S. land basins. For the three months ended September 30, 2025, Patterson-UTI Energy had an average of 95 drilling rigs operating in the United States. In October 2025, the average was 94 U.S. rigs operating. The Drilling Services segment generated $380 million in revenue during the third quarter of 2025.

Patterson-UTI Energy markets approximately 190 land rigs in the United States and Colombia. The company also serves international E&P operators in select markets. For instance, the Drilling Products segment saw steady international revenue in the second quarter of 2025, with gains in the Middle East. Furthermore, a strategic joint venture in the Middle East is set to drill and complete 144 unconventional wells for ADNOC.

Customers are increasingly focused on technology to reduce well costs, driving demand for integrated solutions. This is evident in the Drilling Products segment, which reported revenue of $86 million in the third quarter of 2025, benefiting from strong performance in the U.S. and Canada. The Completion Services segment, which includes hydraulic fracturing and related services, reported revenue of $705 million in the third quarter of 2025. The company expects a strengthening outlook for natural gas drilling and completion activities, tied to LNG takeaway focus.

Here's a look at the revenue contribution from the primary customer-facing segments for Q3 2025:

Segment	Q3 2025 Revenue	Q3 2025 Adjusted Gross Profit
Drilling Services	$380 million	$134 million
Completion Services	$705 million	$111 million
Drilling Products	$86 million	$36 million

The types of customers and their operational focus drive the deployment of Patterson-UTI Energy's high-specification assets and technology offerings:

• Large, active E&P companies utilizing the 93 average rigs in September 2025.
• Operators in U.S. land basins, including natural gas basins like Appalachia and Haynesville.
• International operators in markets like Colombia and the Middle East.
• Customers engaging in performance-based agreements, increasing momentum.

Patterson-UTI Energy, Inc. (PTEN) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep Patterson-UTI Energy, Inc. running their high-spec rig and frac fleets. The structure here is heavily weighted toward assets and the people who run them. It's a capital-intensive business, plain and simple.

High fixed costs from owning and maintaining the rig and frac fleet assets are the bedrock of this cost structure. You see this reflected in the depreciation expense, which is a significant, non-cash cost reflecting the wear and tear on those multi-million dollar assets. For the fourth quarter of 2025, Patterson-UTI Energy expects depreciation, depletion, amortization, and impairment expense to be approximately $225 million. This shows the scale of the asset base you're supporting.

Significant operating expenses for labor, fuel, and consumables hit the income statement directly as you run the jobs. Labor is key, but fuel is a major variable cost, especially for the Completion Services segment. Patterson-UTI Energy has been pushing its natural gas-powered fleets, like the Emerald line, to gain a fuel cost arbitrage over diesel-only fleets. For context on the scale of these operations, here are some segment financials from the third quarter of 2025:

Segment	Revenue (Q3 2025)	Adjusted Gross Profit (Q3 2025)
Drilling Services	$380 million	$134 million
Completion Services	$705 million	$111 million
Drilling Products	$86 million	$36 million

Capital expenditures expected to be less than $600 million for full-year 2025. Patterson-UTI Energy reaffirmed this guidance, showing a disciplined approach to spending, even while investing in technology. For example, the total CapEx in the second quarter of 2025 was $144 million, and the third quarter total was also $144 million. This overall CapEx figure covers both growth-oriented technology investments and necessary fleet upkeep.

The Cost of goods sold for manufacturing and repairing PDC drill bits falls under the Drilling Products segment. To get a sense of the direct costs here, we can look at the third quarter results. Drilling Products revenue was $86 million, and the adjusted gross profit was $36 million. Here's the quick math: that implies a Cost of Goods Sold of about $50 million for that quarter ($86 million revenue minus $36 million profit). They noted that segment margins were impacted by higher than normal bit repair expense early in that third quarter, but they returned closer to historical levels by the end). This cost is directly tied to the Ulterra business they integrated.

Regarding Maintenance capital expenditures for fleet upkeep and upgrades, Patterson-UTI Energy actually reduced its expectations for the full-year 2025 maintenance CapEx because of slightly lower activity levels reported in mid-2025. Still, they are committed to maintaining the high-demand portion of their fleet, which is a non-negotiable cost to keep their premium assets ready for work. They expect to lower overall capital expenditures in 2026 compared to 2025, but maintaining the current fleet quality remains a priority cost driver.

• The company expects full-year 2025 capital expenditures to be below $600 million.
• Maintenance CapEx guidance for 2025 was reduced due to slightly lower activity.
• Total CapEx for Q2 2025 and Q3 2025 was $144 million each.
• Estimated COGS for Drilling Products in Q3 2025 was approximately $50 million ($86 million revenue - $36 million profit).
• Expected D&A and impairment expense for Q4 2025 is around $225 million.

Finance: draft 13-week cash view by Friday.

Patterson-UTI Energy, Inc. (PTEN) - Canvas Business Model: Revenue Streams

You're looking at the revenue side of Patterson-UTI Energy, Inc. (PTEN) as of late 2025. Honestly, the structure shows a clear reliance on the two main service lines, with Drilling Products acting as a solid, though smaller, contributor. Here's the quick math on the third quarter of 2025 performance, which gives us the best snapshot right now.

The core revenue generation comes from the field operations, split between getting the well drilled and then completing it. You can see the Completion Services segment is currently the largest revenue driver for Patterson-UTI Energy, Inc.

Revenue Source	Q3 2025 Revenue Amount	Segment Context
Contract Drilling Services dayrates	$380 million	Drilling Services Segment Revenue
Integrated Completion Services fees	$705 million	Completion Services Segment Revenue
Sales and rental of Drilling Products (PDC bits)	$86 million	Drilling Products Segment Revenue

The total revenue from these three components alone is $1,171 million for the third quarter of 2025, which aligns closely with the reported total revenue of $1.18 billion for the period.

Beyond the quarterly figures, the visibility into future dayrate revenue is important for planning. As of the latest reports, the term contract backlog for U.S. drilling rigs stood at approximately $312 million. What this estimate hides, though, is the growing portion of revenue tied to service integration rather than just dayrates.

Patterson-UTI Energy, Inc. is actively pushing for revenue tied to results, not just time spent. This is where performance-based premiums come into play. The company is focused on expanding its technology-driven commercial models through additional performance-based agreements.

• Performance-based premiums from integrated service offerings are a key strategic focus area.
• This revenue stream is supported by technology integration across drilling rigs and drill bits.
• Directional Drilling performance benefitted from these integrated offerings.
• The company is looking to monetize digital investments like the Fleet Stream data visualization platform.

To be fair, while the backlog gives you a floor for near-term drilling revenue, the growth story is increasingly tied to how effectively Patterson-UTI Energy, Inc. can embed its technology and secure those performance-based premiums within its Completion Services, which already generated $705 million in Q3 2025.

Finance: draft 13-week cash view by Friday.