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Patterson-UTI Energy Inc

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  • Analysts say companies with considerable debt such as Nabors Industries Ltd and small private firms with less efficient rigs will scramble to keep them in operation. Rig rates of $25,000- $30,000 per day in the quarter ended Sept. 30, are expected to fall 20-25 percent or more next year and talks over lower rates are already underway, analysts said.

  • Oct 30- National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, said orders at a unit that make rigs and drilling components fell 60 percent, overshadowing a better-than-expected quarterly profit. Orders in National Oilwell's rig systems segment, which accounts for nearly half its total revenue, fell to $1.34 billion in the third quarter from...

  • Oct 30- National Oilwell Varco Inc, the largest U.S. oilfield equipment provider, reported a 10 percent rise in quarterly profit as its rig systems business readied more oil and gas wells for production. Land drillers Nabor Industries Ltd and Patterson-UTI Energy Inc reported a jump in revenue last week, helped by increased drilling activity.

  • Oct 23- Diamond Offshore Drilling Inc, one of the world's top five offshore rig contractors, reported a 4.5 percent rise in third-quarter revenue, helped by higher demand and improved rates for its ultra-deepwater rigs. Diamond Offshore said Petrobras has extended contracts on three ultra-deepwater rigs, which are expected to generate revenue of up to $1.4...

  • Oct 23- Rig contractors Diamond Offshore Drilling Inc and Patterson-UTI Energy Inc reported big drops in quarterly profits, hurt by one-time charges to retire some old rigs. Offshore driller Diamond Offshore recorded a non-cash impairment charge of $109 million, pushing its third-quarter net income down 44 percent. Diamond Offshore said on Thursday it had...

  • Patterson-UTI quarterly profit plunges 78.5 pct Thursday, 23 Oct 2014 | 6:16 AM ET

    Oct 23- Patterson-UTI Energy Inc, one of the largest U.S. onshore rig contractors, reported a 78.5 percent fall in quarterly profit as its costs surged. Net income fell to $16 million, or 11 cents per share, in the quarter from $74.4 million, or 51 cents per share, a year earlier. The Snyder, Texas- based company's revenue rose 15.7 percent to $845.6 million.

  • But offshore drillers such as Transocean Ltd are expected to post lackluster quarterly sales as new rigs ordered in boomtime hit the seas, creating overcapacity in an already crowded market. Revenue at Transocean, the second-biggest global offshore driller by market value, is expected to fall 15 percent- its steepest in three years- according to Thomson...

  • Wall Street, Big Oil and your pain at the pump Wednesday, 21 May 2014 | 12:45 PM ET

    Some wonder whether Wall Street and Big Oil are to blame for the high price of gasoline. The answer is yes...and no.

  • Here's why you're paying more at the pump Thursday, 15 May 2014 | 12:17 PM ET

    As the summer driving season looms, U.S. retail gas remains stubbornly lodged near $4 per gallon.

  • Energy stocks hit 52-week highs as boom rolls on Tuesday, 22 Apr 2014 | 1:32 PM ET
    Pump jacks and wells are seen in an oil field on the Monterey Shale formation where gas and oil extraction using hydraulic fracturing, or fracking, is on the verge of a boom, March 23, 2014 near McKittrick, California.

    The U.S. energy renaissance has coincided with a boom in energy-related stocks, one that investors are starting to notice.

  • After-hours buzz: Alcoa, Yum Brands, Apple & more Tuesday, 8 Oct 2013 | 5:12 PM ET

    Check out which companies are making headlines after the bell Tuesday:

  • Patterson-UTI 3Q net falls on slow rig demand Thursday, 25 Oct 2012 | 9:58 AM ET

    HOUSTON-- Oil and natural gas driller Patterson-UTI Energy Inc. said Thursday that its third-quarter net income fell almost 38 percent as demand fell for drilling rigs in the U.S. The company earned $50.8 million, or 33 cents per share, for the quarter that ended Sept. 30.

  • *Jefferies raises Atwood Oceanics Inc price target to $58 from $56;. *Jefferies cuts Basic Energy Services Inc price target to $10 from. *Jefferies cuts Precision Drilling Corp price target to $10 from $11;.

  • Oct 2- Patterson-UTI Energy Inc:. *Reports drilling activity for September 2012. *Says for the month of September 2012, the company had an average of 210.

  • *Barclays cuts Nabors Industries price target to $16 from $17; rating. *Barclays cuts Patterson UTI Energy Inc price target to $22 from $24;. *Barclays cuts Superior Energy Services Inc price target to $32 from.

  • 10 Stocks That Could Rise in Market Decline Tuesday, 10 Apr 2012 | 2:43 PM ET
    The unemployed look for job opportunities at the South Florida Workforce center in Miami, Florida.

    Here are 10 of Morningstar's five-star stocks with the biggest discount to the firm's fair-value estimate listed in order of highest to lowest discount.

  • Pro Trader: Buy These Oil Services Stocks Thursday, 17 Nov 2011 | 1:39 PM ET

    With the price of Brent crude “sticky,” MercBloc’s Dan Dicker has his eye on some oil services companies that he thinks are undervalued.

  • Navellier: Four Stocks To Defy DC Monday, 1 Aug 2011 | 12:52 PM ET

    These four stocks are likely to increase in value not matter what transpires in Washington.

  • Mid and Small-Cap Stocks Lead Gains in 2011 Thursday, 7 Jul 2011 | 6:05 PM ET
    NYSE Trader

    The S&P 600 Small-Cap Index closed at an all-time high on Thursday, while the S&P 400 Mid-Cap Index came within points of reaching record levels. 

  • Halftime: Citigroup Analyst’s About Face on Google Thursday, 30 Jun 2011 | 2:12 PM ET

    Find out why the analyst who was once one of the biggest Google bulls is now cautious about the search engine.