Patterson-UTI Ready for its Quarterly Earnings Release

Published on Wednesday, 01 February 2012 12:00 Written by Gerard Lerod

New York, February 1st (TradersHuddle.com) - Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN) are trading lower by -0.27% ahead of its quarterly earnings release. Patterson-UTI, the provider of onshore contract drilling and pressure pumping services to oil and natural gas industry is expected to release its quarterly results on January 2^nd.

Wall Street Analysts consensus calls for a profit of $0.63 a share on $727.25 million revenue.

Patterson-UTI estimates have a range of $0.1 a share. The high estimate calls for profit of $0.69 a share and the low estimate is calling for a profit of $0.59 a share, a year ago for the quarter the company reported $0.37 a share.

Patterson-UTI Energy, Inc. (NASDAQ:PTEN) through its subsidiaries provide onshore contract drilling and pressure pumping services to exploration and production companies in North America. Patterson-UTI Drilling Company, LLC has approximately 350 currently marketable land-based drilling rigs that operate primarily in oil and natural gas producing regions of Texas, New Mexico, Oklahoma, Arkansas, Louisiana, Mississippi, Colorado, Utah, Wyoming, Montana, North Dakota, Pennsylvania, West Virginia, Ohio and western Canada. Universal Pressure Pumping, Inc. and Universal Well Services, Inc. provide pressure pumping services primarily in Texas and the Appalachian Basin.

Other companies on the watch on this earnings event are Nabors Industries Ltd NYSE:NBR and Helmerich & Payne, Inc. NYSE:HP.