HOUSTON, TX / ACCESS Newswire / June 5, 2026 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of May 2026, the Company had an average of 92 drilling rigs operating in the United States. For

<p><strong id="dateline">HOUSTON, TX / <a href='https://www.accessnewswire.com/'>ACCESS Newswire</a> / June 5, 2026 / </strong><strong>PATTERSON-UTI ENERGY, INC. </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PTEN">PTEN</a>) today reported that for the month of May 2026, the Company had an average of 92 drilling rigs operating in the United States. For the two months ended May 31, 2026, the Company had an average of 90 drilling rigs operating in the United States.</p><p>Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs that were earning revenue under a drilling contract in the United States. The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company's operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company's financial performance. The Company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.</p><p><strong>About Patterson-UTI</strong></p><p>Patterson-UTI is a leading provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling services, integrated well completion services and directional drilling services in the United States, and specialized drill bit solutions in the United States, Middle East and many other regions around the world. For more information, visit <a rel="nofollow" href="https://pr.report/m8xr">www.patenergy.com</a>.</p><p><strong>Cautionary Statement Regarding Forward-Looking Statements</strong></p><p><i>This 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, expectations or intentions regarding future events. Words such as "anticipate," "believe," "budgeted," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "potential," "project," "pursue," "should," "strategy," "target," or "will," and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding Patterson-UTI's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond Patterson-UTI's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: adverse oil and natural gas industry conditions; global economic conditions, including inflationary pressures and risks of economic downturns or recessions in the United States and elsewhere; volatility in customer spending and in oil and natural gas prices that could adversely affect demand for Patterson-UTI's services and their associated effect on rates; excess availability of land drilling rigs, pressure pumping and directional drilling equipment, including as a result of reactivation, improvement or construction; competition and demand for Patterson-UTI's services; the impact of the ongoing conflict in Ukraine; strength and financial resources of competitors; utilization, margins and planned capital expenditures; liabilities from operational risks for which Patterson-UTI does not have and receive full indemnification or insurance; operating hazards attendant to the oil and natural gas business; failure by customers to pay or satisfy their contractual obligations (particularly with respect to fixed-term contracts); the ability to realize backlog; specialization of methods, equipment and services and new technologies, including the ability to develop and obtain satisfactory returns from new technology; the ability to retain management and field personnel; loss of key customers; shortages, delays in delivery, and interruptions in supply, of equipment and materials; cybersecurity events; synergies, costs and financial and operating impacts of acquisitions; difficulty in building and deploying new equipment; governmental regulation; climate legislation, regulation and other related risks; environmental, social and governance practices, including the perception thereof; environmental risks and ability to satisfy future environmental costs; technology-related disputes; legal proceedings and actions by governmental or other regulatory agencies; the ability to effectively identify and enter new markets; public health crises, pandemics and epidemics; weather; operating costs; expansion and development trends of the oil and natural gas industry; ability to obtain insurance coverage on commercially reasonable terms; financial flexibility; interest rate volatility; adverse credit and equity market conditions; availability of capital and the ability to repay indebtedness when due; our return of capital to stockholders; stock price volatility; and compliance with covenants under Patterson-UTI's debt agreements.</i></p><p><i>Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in Patterson-UTI's SEC filings. Patterson-UTI's filings may be obtained by contacting Patterson-UTI or the SEC or through Patterson-UTI's website at </i><a rel="nofollow" href="https://pr.report/m8xs"><i>http://www.patenergy.com</i></a><i> or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at </i><a rel="nofollow" href="https://pr.report/m8xt"><i>http://www.sec.gov</i></a><i>. Patterson-UTI undertakes no obligation to publicly update or revise any forward-looking statement.</i></p><p><strong>Contact:</strong><br/>Michael Sabella<br/>Vice President, Investor Relations<br/>(281) 885-7589</p><p><strong>SOURCE:</strong> Patterson-UTI Energy</p><br/><br/>View the original <a href='https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/patterson-uti-reports-drilling-activity-for-may-2026-1173765'>press release</a> on ACCESS Newswire<br/><br/>
      <img src="https://app.accessnewswire.com/img.ashx?id=1173765" width="0" height="0"/>

PTEN

Patterson-UTI Reports Drilling Activity for May 2026

Patterson-UTI May Rig Update Signals US Onshore Activity Trends

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>HOUSTON, TX / ACCESS Newswire / June 5, 2026 / PATTERSON-UTI ENERGY, INC. (NASDAQ:PTEN) today reported that for the month of May 2026, the Company had an average of 92 drilling rigs operating in the United States. For</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>Patterson-UTI reported May 2026 US drilling activity at an average of 92 rigs, with a two-month May average of 90. While higher rig counts suggest improving demand, the company cautions that many factors determine outcomes and commits to monthly updates. For PTEN investors, this ongoing visible data flow could help gauge near-term activity and pricing dynamics in US shale markets and influence short-term expectations for PTEN utilization and revenue.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>May 2026 US drilling rigs averaged 92; two-month May average 90.</li><li>Rigs alone may not predict results; Patterson-UTI will provide monthly updates.</li><li>The company cautions on multiple factors influencing results beyond rig counts.</li><li>PTEN is exposed to US onshore activity but data is incremental, not definitive.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>Patterson-UTI Energy, Inc. (PTEN)</strong>: Primary referenced firm; May rig data could affect PTEN utilization and revenue.</li><li><strong>Schlumberger Limited (SLB)</strong>: Peer oilfield services; likely to react to changes in onshore activity and pricing.</li><li><strong>Halliburton Company (HAL)</strong>: Large cap service provider; onshore activity signals may influence HAL&#039;s margins and backlog.</li><li><strong>Baker Hughes Company (BKR)</strong>: Equipment and services exposure; rig activity trends can impact BKR&#039;s cycle timing.</li><li><strong>National Oilwell Varco (NOV)</strong>: Industrial equipment supplier; activity upticks can affect NOV&#039;s order momentum.</li></ul>
  </section>

  <section data-block="category">
    <h3>Industry News</h3>
    <p>Industry News; the release provides monthly drilling activity data tied to market demand for drilling services, relevant to PTEN’s utilization and revenue trajectory.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>May 2026 US rig counts provide fresh signal for onshore demand and pricing.</li><li>Rigs data may influence near-term PTEN utilization expectations and revenue trajectory.</li><li>Ongoing monthly updates could introduce near-term volatility in service-sector peers.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>May 2026: Patterson-UTI averaged 92 drilling rigs in the United States.</li><li>Two months ended May 31, 2026: average 90 US drilling rigs.</li><li>PTEN press release date: June 5, 2026.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>PTEN could trend with US rig activity over weeks; upside hinges on sustained activity.</p>
  </section>
</section>


<p><strong id="dateline">HOUSTON, TX / <a href='https://www.accessnewswire.com/'>ACCESS Newswire</a> / June 5, 2026 / </strong><strong>PATTERSON-UTI ENERGY, INC. </strong>(NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/PTEN">PTEN</a>) today reported that for the month of May 2026, the Company had an average of 92 drilling rigs operating in the United States. For the two months ended May 31, 2026, the Company had an average of 90 drilling rigs operating in the United States.</p><p>Average drilling rigs operating reported in the Company's monthly announcements represent the average number of the Company's drilling rigs that were earning revenue under a drilling contract in the United States. The Company cautioned that numerous factors in addition to average drilling rigs operating can impact the Company's operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the Company's financial performance. The Company intends to continue providing monthly updates on drilling rigs operating shortly after the end of each month.</p><p><strong>About Patterson-UTI</strong></p><p>Patterson-UTI is a leading provider of drilling and completion services to oil and natural gas exploration and production companies in the United States and other select countries, including contract drilling services, integrated well completion services and directional drilling services in the United States, and specialized drill bit solutions in the United States, Middle East and many other regions around the world. For more information, visit <a rel="nofollow" href="https://pr.report/m8xr">www.patenergy.com</a>.</p><p><strong>Cautionary Statement Regarding Forward-Looking Statements</strong></p><p><i>This 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, expectations or intentions regarding future events. Words such as "anticipate," "believe," "budgeted," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "potential," "project," "pursue," "should," "strategy," "target," or "will," and similar expressions are intended to identify such forward-looking statements. The statements in this press release that are not historical statements, including statements regarding Patterson-UTI's future expectations, beliefs, plans, objectives, financial conditions, assumptions or future events or performance that are not historical facts, are forward-looking statements within the meaning of the federal securities laws. These statements are subject to numerous risks and uncertainties, many of which are beyond Patterson-UTI's control, which could cause actual results to differ materially from the results expressed or implied by the statements. These risks and uncertainties include, but are not limited to: adverse oil and natural gas industry conditions; global economic conditions, including inflationary pressures and risks of economic downturns or recessions in the United States and elsewhere; volatility in customer spending and in oil and natural gas prices that could adversely affect demand for Patterson-UTI's services and their associated effect on rates; excess availability of land drilling rigs, pressure pumping and directional drilling equipment, including as a result of reactivation, improvement or construction; competition and demand for Patterson-UTI's services; the impact of the ongoing conflict in Ukraine; strength and financial resources of competitors; utilization, margins and planned capital expenditures; liabilities from operational risks for which Patterson-UTI does not have and receive full indemnification or insurance; operating hazards attendant to the oil and natural gas business; failure by customers to pay or satisfy their contractual obligations (particularly with respect to fixed-term contracts); the ability to realize backlog; specialization of methods, equipment and services and new technologies, including the ability to develop and obtain satisfactory returns from new technology; the ability to retain management and field personnel; loss of key customers; shortages, delays in delivery, and interruptions in supply, of equipment and materials; cybersecurity events; synergies, costs and financial and operating impacts of acquisitions; difficulty in building and deploying new equipment; governmental regulation; climate legislation, regulation and other related risks; environmental, social and governance practices, including the perception thereof; environmental risks and ability to satisfy future environmental costs; technology-related disputes; legal proceedings and actions by governmental or other regulatory agencies; the ability to effectively identify and enter new markets; public health crises, pandemics and epidemics; weather; operating costs; expansion and development trends of the oil and natural gas industry; ability to obtain insurance coverage on commercially reasonable terms; financial flexibility; interest rate volatility; adverse credit and equity market conditions; availability of capital and the ability to repay indebtedness when due; our return of capital to stockholders; stock price volatility; and compliance with covenants under Patterson-UTI's debt agreements.</i></p><p><i>Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements is contained from time to time in Patterson-UTI's SEC filings. Patterson-UTI's filings may be obtained by contacting Patterson-UTI or the SEC or through Patterson-UTI's website at </i><a rel="nofollow" href="https://pr.report/m8xs"><i>http://www.patenergy.com</i></a><i> or through the SEC's Electronic Data Gathering and Analysis Retrieval System (EDGAR) at </i><a rel="nofollow" href="https://pr.report/m8xt"><i>http://www.sec.gov</i></a><i>. Patterson-UTI undertakes no obligation to publicly update or revise any forward-looking statement.</i></p><p><strong>Contact:</strong><br/>Michael Sabella<br/>Vice President, Investor Relations<br/>(281) 885-7589</p><p><strong>SOURCE:</strong> Patterson-UTI Energy</p><br/><br/>View the original <a href='https://www.accessnewswire.com/newsroom/en/oil-gas-and-energy/patterson-uti-reports-drilling-activity-for-may-2026-1173765'>press release</a> on ACCESS Newswire<br/><br/>
      <img src="https://app.accessnewswire.com/img.ashx?id=1173765" width="0" height="0"/>

Patterson-UTI reported May 2026 US drilling activity at an average of 92 rigs, with a two-month May average of 90. While higher rig counts suggest improving demand, the company cautions that many factors determine outcomes and commits to monthly updates. For PTEN investors, this ongoing visible data flow could help gauge near-term activity and pricing dynamics in US shale markets and influence short-term expectations for PTEN utilization and revenue.

Patterson-UTI Reports Drilling Activity for May 2026

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Industry News

Related News