Patterson-UTI Energy, Inc., through its subsidiaries, provides drilling and completion services to oil and natural gas exploration and production companies in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products.
The Contract Drilling Services segment engages in the provision of contract and directional drilling, and measurement-while-drilling (MWD) services in onshore oil and natural gas basins. This segment also supplies and rents downhole performance motors, such as Mpact drilling motors and Mpower MWD systems, as well as electrical controls and automation to the energy, marine, and mining industries. Additionally, it offers servicing and re-certification of equipment for drilling contractors.
This segment provides software and services, such as MWD Survey Fault Detection, Isolation and Recovery (FDIR) services, a data analytics technology to analyze MWD survey data in real-time and identify the position of a well. It also includes HiFi Nav, which enhances FDIR by targeting improved vertical placement of the directional well within the reservoir, and HiFi Guidance, which utilizes trajectory optimization to determine optimal steering recommendations and placement within the reservoir.
The Completion Services segment offers services for hydraulic fracturing, wireline and pumping, completion support, and cementing. It is also involved in the power solutions natural gas fueling, and last mile logistics and storage businesses.
The Drilling Products segment engages in the design, manufacture, sale, and rental of matrix and steel-bodied polycrystalline diamond compact drill bits. It also rents oilfield tools and offers specialized services for land-based oil and natural gas drilling, completion, and workover activities.
The company was founded in 1978 and is headquartered in Houston, Texas.
