Patterson-UTI Energy to Present at the Barclays CEO Energy-Power Conference

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[{"type":"text","content":"HOUSTON, TX / ACCESSWIRE / September 6, 2022 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today announced that Andy Hendricks, the Company's President and Chief Executive Officer, will participate in a fireside chat at the Barclays CEO Energy-Power Conference on Wednesday, September 7, 2022, at 9:45 a.m. Eastern time. During the fireside chat, Mr. Hendricks will make reference to an investor presentation filed today with the SEC and available in the investor relations section of the Company's website.Mr. Hendricks stated, \"Strong demand for drilling and pressure pumping equipment and services combined with limited availability of incremental equipment across the industry continues to bode well for Patterson-UTI. As customer conversations about their 2023 drilling plans progress, operators have entered into term contracts to guarantee access to the drilling rigs that they need. Since the end of the second quarter, we have signed term contracts adding approximately $335 million of contract drilling revenue backlog, including contracts with a major operator for five rigs under three-year contract terms. On August 31, 2022, we had term contracts for drilling rigs in the United States providing for future dayrate drilling revenue of approximately $690 million.\"In pressure pumping, we continue to operate 12 frac spreads and have been able to achieve agreements for higher rates with a number of customers during the third quarter. We believe the strong market demand for high quality services will allow us to continue to improve rates,\" he concluded.To access the webcast of this fireside chat, go to the investor relations section of the Company's webcast at investor.patenergy.com prior to the scheduled start time.About Patterson-UTIPatterson-UTI is a leading provider of oilfield services and products to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling, pressure pumping and directional drilling services. For more information, visit www.patenergy.com.Cautionary Statement Regarding Forward-Looking StatementsThis press release contains forward-looking statements which are protected as forward-looking statements under the Private Securities Litigation Reform Act of 1995 that are not limited to historical facts, but reflect Patterson-UTI's current beliefs, ex...

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