Patterson-UTI is an oilfield services company that provides a broad suite of drilling, completion, and support services to exploration and production (E&P) firms. Its core business is contract drilling — supplying land-based drilling rigs and crews under day-rate or performance contracts. Over time, it has expanded its capabilities to include completion services (pressure pumping, stimulation, cementing) and equipment & technology (directional drilling tools, rental gear, automation systems) to serve as a more integrated services provider.
Geographically, Patterson-UTI operates primarily across onshore U.S. basins — including Texas, New Mexico, Oklahoma, Louisiana, and other shale & horizontal play regions — and maintains some presence in western Canada. Because its offerings span drilling, completions, directional services, and gear rental, the company can deploy its resources across multiple phases of well development. The company’s “APEX” rigs are part of its modern fleet design, integrating automation and performance enhancements to improve efficiency.
From an operational standpoint, Patterson-UTI’s major levers are utilization (the fraction of its rig fleet that is active under contract), contract day rates, maintenance & downtime, and cost control in completions operations. Because rigs and service equipment are capital intensive, maximizing uptime and minimizing idle or nonproductive periods is critical. The company negotiates various contract types: daywork (rig + crew for a daily rate), footage or performance contracts (fixed per foot or per well), and occasionally turnkey arrangements (higher risk, higher reward). In its completions and stimulation segment, Patterson-UTI provides hydraulic fracturing, wireline, cementing and associated services to bring wells online or enhance production.
Patterson-UTI’s growth and competitive positioning also come through acquisitions and integration of adjacent service lines. For example, its merger with NexTier Oilfield Solutions (2023) expanded its completions business and broadened its service footprint. It also now includes specialized arms such as MS Directional (for directional drilling), Ulterra Drilling Technologies (for drill bits), and gear rental / automation units to offer a fuller stack of services.