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.

Patterson-UTI Energy reported second quarter 2026 total revenue of $1.2 billion, a 10% sequential increase, alongside a net loss attributable to common stockholders of $20 million and adjusted EBITDA of $232 million. The company declared a quarterly cash dividend of $0.10 per share, payable on September 15, 2026, to shareholders of record as of September 1, 2026. Management expects third-quarter drilling services adjusted gross profit to be approximately $145 million and completion services adjusted gross profit to be approximately $140 million, driven by rising U.S. onshore activity and constructive pricing trends. Patterson-UTI Energy operates in the oilfield services industry, providing contract drilling, well completion, directional drilling, and specialized bit solutions.