Dividends & Buybacks ·
Patterson-UTI raises quarterly dividend by 25% to $0.10 per share, expects Q3 rig count of 104
PTENPatterson Uti Energy Inc
Patterson-UTI Energy filed an 8-K to furnish an investor presentation dated September 8, 2026. The company reported averaging 100 active rigs in the U.S. through the first two months of Q3 2026 and expects to exit the quarter with 104 active rigs. Management anticipates limited fleet availability in Q4 due to holiday seasonality but projects completion equipment will be highly utilized into 2027. The company is transitioning its fleet from Tier II diesel assets to Emerald natural gas-powered equipment, though lead times for new direct-drive units have extended beyond 12 months. Patterson-UTI expects 2026 capital expenditures, net of asset sales, to approximate $600 million and believes adjusted free cash flow will fully fund the annual dividend. The company raised its quarterly dividend by 25% to $0.10 per share in Q1 2026. Patterson-UTI Energy operates as an oilfield services provider offering drilling, completion, and products.