Type | Public |
---|---|
Industry | Petroleum industry |
Founded | 1978 |
Headquarters | Houston, Texas, U.S. |
Key people | Mark S. Siegel, Chairman William Andrew Hendricks Jr., President & CEO |
Services | Well drilling |
Revenue | US$2.356 billion (2017) |
US$0.006 billion (2017) | |
Total assets | US$5.758 billion (2017) |
Total equity | US$3.982 billion (2017) |
Number of employees | 5,800 (February 7, 2020) |
Website | patenergy |
Footnotes /references [1] |
Patterson-UTI Energy provides land drilling and pressure pumping services, directional drilling, rental equipment and technology to clients in the United States and western Canada. [2]
Patterson-UTI Companies include:
Patterson Drilling Company was founded in 1978 by Cloyce Talbott and Glenn Patterson. [1]
In 2001, Patterson Drilling acquired UTI Energy and renamed the company Patterson-UTI Energy. [3]
In September 2014, the company acquired Texas-based pressure pumping assets. [4]
In September 2016, the company acquired Warrior Rig. [5]
In April 2017, the company acquired Seventy Seven Energy. [6] The deal included Seventy Seven's affiliates: Great Plains Oilfield Rental, Nomac Drilling (now part of Patterson-UTI Drilling), and Performance Technologies (now part of Universal Pressure Pumping). [7]
In October 2017, the company acquired MS Energy Services (now MS Directional). [8]
In February 2018, the company acquired Superior QC, a provider of software used to improve the accuracy of horizontal wellbore placement. [9]
In October 2018, the company acquired Current Power Solutions, Inc. [10]
In October 2021, Patterson-UTI announced that it completed the acquisition of Pioneer Energy Services.
In September 2023, the company merged with NexTier OFS
Baker Hughes Company, incorporated under Delaware General Corporation Law and headquartered in Houston, is one of the world's largest oil field services companies. The company provides products and services for oil well drilling, formation evaluation, completion, production, and reservoir consulting. It operates in over 120 countries, with research and manufacturing facilities in Australia, Singapore, Malaysia, India, Dubai, Saudi Arabia, Italy, Germany, Norway, Oklahoma, Louisiana and Missouri. From 2017 to 2020, the company was majority owned by General Electric (GE); however, GE no longer owns an economic stake in the company.
Ensign Energy Services Inc. is a publicly traded Canadian company that provides oilfield services for the North American and international market. Founded in 1987, Ensign is headquartered in Calgary, Alberta. Ensign's Common Shares are publicly traded though the facilities of the Toronto Stock Exchange under the trading symbol ESI.
Directional drilling is the practice of drilling non-vertical bores. It can be broken down into four main groups: oilfield directional drilling, utility installation directional drilling, directional boring, and surface in seam (SIS), which horizontally intersects a vertical bore target to extract coal bed methane.
Transocean Ltd. is an American company. It is the world's largest offshore drilling contractor based on revenue and is based in Vernier, Switzerland. The company has offices in 20 countries, including Canada, the United States, Norway, United Kingdom, India, Brazil, Singapore, Indonesia, and Malaysia.
NOV Inc., formerly National Oilwell Varco, is an American multinational corporation based in Houston, Texas. It is a worldwide provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry. The company conducts operations in more than 500 locations across six continents, operating through three reporting segments: Rig Technologies, Wellbore Technologies, and Completion & Production Solutions.
Tesco Corporation was an oilfield services company that provided top drive rental services on a day-rate basis for land and oil platforms as well as casing running. It was headquartered in Spring Branch, Houston. In December 2017, the company was acquired by Nabors Industries.
Valaris Limited is an offshore drilling contractor headquartered in Houston, Texas, and incorporated in Bermuda. It is the largest offshore drilling and well drilling company in the world, and owns 52 rigs, including 36 offshore jackup rigs, 11 drillships, and 5 semi-submersible platform drilling rigs.
A drilling rig is used to create a borehole or well in the earth's sub-surface, for example in order to extract natural resources such as gas or oil. During such drilling, data is acquired from the drilling rig sensors for a range of purposes such as: decision-support to monitor and manage the smooth operation of drilling; to make detailed records of the geologic formations penetrated by a borehole; to generate operations statistics and performance benchmarks such that improvements can be identified, and to provide well planners with accurate historical operations-performance data with which to perform statistical risk analysis for future well operations. The terms measurement while drilling (MWD), and logging while drilling (LWD) are not used consistently throughout the industry. Although these terms are related, within the context of this section, the term measurement while drilling refers to directional-drilling measurements, e.g., for decision support for the wellbore path, while LWD refers to measurements concerning the geological formations penetrated while drilling.
Precision Drilling Corporation is the largest drilling rig contractor in Canada, also providing oil field rental and supplies.
Trinidad Drilling Ltd. was a corporation headquartered in Calgary, Alberta, Canada that operated in the drilling and well servicing sectors of the North American oil and gas industry. Trinidad was acquired by Ensign Energy Services between late 2018 to early 2019, and was amalgamated into Ensign in 2019.
Noble Corporation plc is an offshore drilling contractor organized in London, England. Its affiliate, Noble Corporation, is organized in the Cayman Islands. It is the corporate successor of Noble Drilling Corporation.
Nabors Industries Limited is an American global oil and gas drilling contractor that has operated since 1972. Based in Houston, Texas, Nabors owns the largest land drilling fleet in the world with approximately 400 rigs in more than 20 countries. The company consists of the following business segments: U.S. Drilling, Canada Drilling, International Drilling, Drilling Solutions, and Rig Technologies. Nabors is notable for its historic association with the Guggenheim family.
Odfjell Drilling Ltd. is an oil drilling, well service, and engineering company.
Key Energy Services is an American oilfield services company.
Grup Servicii Petroliere is a Romanian company providing offshore integrated services for oil and gas industry. The company, established in 2004, is a member of UPETROM Group.
Cenovus Energy Inc. is a Canadian integrated oil and natural gas company headquartered in Calgary, Alberta.
Cameron International Corporation (formerly Cooper Cameron Corporation (CCC) and Cooper Oil Tool, Cameron Iron Works) though now operating under Schlumberger, is a global provider of pressure control, production, processing, and flow control systems as well as project management and aftermarket services for the oil and gas and process industries. Cameron was acquired by Schlumberger (SLB) in 2016, and now operates as 'Cameron, a Schlumberger Company.' At the start of the SLB acquisition in 2015, Cameron employed approximately 23,000 people and delivered $9.8 billion in revenue.
Continental Resources, Inc. is a petroleum and natural gas exploration and production company headquartered in Oklahoma City. The company was founded by Harold Hamm in 1967 at the age of 21 as Shelly Dean Oil Company, originally named for Hamm's two daughters. In 1990, Shelly Dean re-branded itself as Continental Resources. It primarily used hydraulic fracturing and directional drilling to produce from low permeability formations.
Superior Energy Services, Inc. is a C-corporation that operates as a holding company for a portfolio of oilfield rentals and well services brands. The Company restructured in 2021 and is no longer listed on an exchange. Its majority beneficial owners as of March 4, 2022, per the latest filings with the Securities and Exchange Commission, are GoldenTree Asset Management LP and Monarch GP LLC.
GE Oil & Gas was the division of General Electric that owned its investments in the petroleum industry. In July 2017, this division was merged with Baker Hughes.