Patterson-UTI ( (PTEN) ) has provided an announcement.
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Patterson-UTI has announced plans to reduce capital expenditures in 2025 compared to 2024, while maintaining a steady rig count and shifting activity towards natural gas basins. The company aims to return at least 50% of free cash flow to investors, emphasizing a strong capital structure and a focus on maximizing margins through optimized resource allocation. With high utilization rates for its natural gas-powered assets, Patterson-UTI is strategically aligned with the most active exploration and production companies, contributing to predictable cash generation and industry-leading asset performance.
More about Patterson-UTI
Patterson-UTI Energy, Inc. operates in the oilfield services industry, providing a range of services including drilling, hydraulic fracturing, wireline operations, natural gas fueling, oilfield logistics, and cementing. The company is a leader in North America with a focus on high-quality, integrated services that enhance well delivery and create value for investors.
YTD Price Performance: 0.47%
Average Trading Volume: 8,947,503
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $3.34B
For an in-depth examination of PTEN stock, go to TipRanks’ Stock Analysis page.
