BNET Industries

Market Cap:$2.4B
Last Fiscal Year Sales:$2.2B
  • Public
  • US
Dow Jones Description

At Patterson-UTI Energy, we: - Value safety, honesty, integrity, loyalty and trust, and will not compromise them in our business; - Deliver high-quality, value-added services; - Focus on innovative solutions in all aspects of our work; - Strive to provide a safe, incident-free work environment for all; - Believe that the safety and well-being of our employees is a cornerstone; - Work as teams with our customers and other service providers; - Seek to provide superior returns for investors; and - Respect our employees and their families, our customers and our communities. Patterson-UTI Energy, Inc. is the Parent Company for the following business units:

President & CEO
Douglas J. Wall
Number of Employees 6,600
Contact Information

450 Gears Rd Ste 500

Houston, Texas 77067

patenergy.com

(281) 765-7100

NAICS Code Drilling Oil and Gas Wells: 213111

Recent Events

  • Patterson-UTI PTEN Shares Surging Amid Raymond James Upgrade

    12/10/09 - Bond / Stock Rating - View Story

  • Pritchard Capital Upgrades Patterson-UTI Energy PTEN From Sell to Buy

    10/30/09 - Bond / Stock Rating - View Story

  • Zacks Analyst Blog Highlights: Avnet, Inc., Arrow Electronics,

    11/09/09 - Financial Announcement - View Story

  • BRIEF-RESEARCH ALERT-BMO starts U.S. oil services sector

    10/15/09 - Bond / Stock Rating - View Story

  • Patterson-UTI Swings To Loss In Q2 - Update

    7/30/09 - Financial Announcement - View Story

News & Analysis

patterson-uti energy inc. and seeking alpha - All News and Analysis

Decision Makers

Name (plus bio) Position
Douglas J. Wall President & CEO
Gregory W. Pipkin Chief Accounting Officer & Assistant Secretary
John E. Vollmer CFO, Treasurer & Senior Vice President, Corp Dev
Kenneth N. Berns Senior Vice President
William L. Moll General Counsel & Secretary
Curtis W. Huff Director
Kenneth R. Peak Director

Board of Directors

Name (plus bio) Position
Mark S. Siegel Chairman
Charles O. Buckner Board of Directors
Cloyce A. Talbott Board of Directors
Terry H. Hunt Board of Directors

Mr. Wall has served as President and Chief Executive Officer of Patterson-UTI since October 1, 2007. From April through September 2007 he served as Chief Operating Officer of Patterson-UTI. From 2005 to April 2007, Mr. Wall served as Group President, Completion and Production of Baker Hughes Incorporated, an oilfield service company. In that capacity, Mr. Wall was responsible for the combined activities of Baker Oil Tools, Baker Petrolite, Centrilift and ProductionQuest divisions. From 2003 to 2005 he served as President of Baker Oil Tools, a division of Baker Hughes, and from 1997 to 2003 he served as President of Hughes Christensen Company, a division of Baker Hughes. Mr. Wall holds a Bachelor Degree in Economics from the University of Calgary and a Masters of Business Administration in Finance and Marketing from the University of Alberta.

Organization Position Status
Patterson-UTI Energy, Inc. President & CEO Current

Mr. Pipkin has served as Chief Accounting Officer and Assistant Secretary of Patterson-UTI since August 2007. From June 2006 to August 2007, Mr. Pipkin served as Director of Financial Reporting of Patterson-UTI. From April 2001 through May 2006, Mr. Pipkin was Controller and Vice President of Accounting and Reporting for Alamosa Holdings, Inc., a publicly traded wireless telecommunications company. Prior to April 2001, Mr. Pipkin was in the practice of public accounting. Mr. Pipkin is a Certified Public Accountant and holds a Bachelor of Business Administration in Accounting from Texas Tech University.

Organization Position Status
Patterson-UTI Energy, Inc. Chief Accounting Officer & Assistant Secretary Current

Mr. Vollmer has served as Chief Financial Officer and Treasurer of Patterson-UTI since November 2005 and Senior Vice President — Corporate Development of Patterson-UTI since May 2001. Mr. Vollmer also served as Secretary of Patterson-UTI from November 2005 to February 2007. Mr. Vollmer served as Senior Vice President, Chief Financial Officer, Secretary and Treasurer of UTI from 1998 to May 2001. From 1992 until 1997, Mr. Vollmer served in a variety of capacities at Blockbuster Entertainment, including Senior Vice President — Finance and Chief Financial Officer of Blockbuster Entertainment’s Music Division. Mr. Vollmer holds a Bachelor of Arts in Accounting from Michigan State University.

Organization Position Status
Patterson-UTI Energy, Inc. CFO, Treasurer & Senior Vice President, Corp Dev Current

Mr. Berns has served as Senior Vice President of Patterson-UTI since April 2003 and as a director of Patterson-UTI since May 2001. Mr. Berns served as a director of UTI from 1995 to May 2001. Mr. Berns has been an executive with REMY Investors since 1994. Mr. Berns holds a Bachelors Degree in Business Administration from San Diego State University and a Masters Degree in Taxation from Golden Gate University.

Organization Position Status
Patterson-UTI Energy, Inc. Senior Vice President Current
Patterson-UTI Energy, Inc. Board of Directors Current

Mr. Moll has served as General Counsel and Secretary of Patterson-UTI since February 2007. From July 2006 to February 2007, Mr. Moll served as Vice President and Counsel of Stewart & Stevenson LLC, an oilfield equipment manufacturing company. From January 1996 to July 2006, Mr. Moll served in a variety of capacities in the legal department of Stewart & Stevenson Services, Inc., an equipment manufacturing company, including Deputy General Counsel from March 2005 to July 2006 and Managing Attorney from September 2001 to March 2005. From September 1991 to January 1996, Mr. Moll was an associate with the law firm of Andrews & Kurth LLP. Mr. Moll holds a Bachelor of Business Administration in Accounting from the University of Texas and a J.D. from the University of Houston Law Center.

Organization Position Status
Patterson-UTI Energy, Inc. General Counsel & Secretary Current

Mr. Siegel has served as Chairman of the Board and as a director of Patterson-UTI since May 2001. Mr. Siegel served as Chairman of the Board and as a director of UTI Energy Corp. (“UTI”) from 1995 to May 2001, when UTI merged with and into Patterson-UTI. Mr. Siegel has been President of REMY Investors & Consultants, Incorporated (“REMY Investors”) since 1993. From 1992 to 1993, Mr. Siegel was President, Music Division, Blockbuster Entertainment Corp. From 1988 through 1992, Mr. Siegel was an Executive Vice President of Shamrock Holdings, Inc., a private investment company, and Managing Director of Shamrock Capital Advisors, Incorporated. Mr. Siegel holds a Bachelor of Arts degree from Colgate University and a J.D. from the University of California, Berkeley (Boalt Hall) School of Law.

Organization Position Status
Patterson-UTI Energy, Inc. Chairman Current
Patterson-UTI Energy, Inc. Board of Directors Former

Organization Position Status
Horizon Offshore, Inc. Board of Directors Current
Gateway Energy Corporation Director Current
Patterson-UTI Energy, Inc. Board of Directors Current
Patterson-UTI Energy, Inc. Member Current
The University of Houston Masters of Business Administration Former
The University of Texas Bachelor of Business Administration Former

Mr. Talbott has served as a director of Patterson-UTI since its incorporation in 1978. Mr. Talbott co-founded Patterson-UTI and has served in various capacities, including as its Chief Executive Officer from 1983 until his retirement from that position on September 30, 2007. He also served as Chairman of the Board from 1983 to May 2001. Mr. Talbott is currently employed as a consultant by Patterson-UTI. Mr. Talbott holds a Bachelor of Science degree in petroleum engineering from Texas Tech University.

Organization Position Status
Patterson-UTI Energy, Inc. Board of Directors Current
Patterson-UTI Energy, Inc. CEO Former
Patterson-UTI Drilling LP, LLLP President & CEO Former

Organization Position Status
Intervale Capital LLC Managing Partner Current
Patterson-UTI Energy, Inc. Director Current
Intervale Capital LLC Co-Founder Former
Texas Business Law Foundation Chairman Former
The University of New Mexico J.D. Former
The University of New Mexico B.A. Former

Mr. Peak has been Chairman, CEO, and CFO of Contango since its formation in September 1999. Mr. Peak entered the energy industry in 1972 as a commercial banker and held a variety of financial and executive positions in the oil and gas industry prior to starting Contango in 1999. Mr. Peak served as an officer in the U.S. Navy from 1968 to 1971. Mr. Peak received a BS in physics from Ohio University in 1967, and an MBA from Columbia University in 1972. He currently serves as a director of Patterson-UTI Energy, Inc., a provider of onshore contract drilling services to exploration and production companies in North America.

Organization Position Status
Contango Chairman, Chief Executive Officer, Chief Financial Officer, and Director Current
Contango Oil & Gas Co Chairman, President, CEO, CFO & Secretary Current
Contango Chief Financial Officer Current
Contango Capital Partners Current
Patterson-UTI Energy, Inc. Director Current
Contango Oil & Gas Co Chief Financial Officer Former
Forest Oil Corporation Chief Financial Officer Former
U.S. Navy Officer Former
Columbia University MBA Former
Ohio University BS In Physics Former

Mr. Hunt has served as a director of Patterson-UTI since April 2003 and served as a director of UTI from 1994 to May 2001. Mr. Hunt is an energy consultant and investor. Mr. Hunt served as Senior Vice President — Strategic Planning of PPL Corporation, an international energy and utility holding company, from 1998 to 2000. Mr. Hunt served as the President and Chief Executive Officer of Penn Fuel Gas, Inc., a natural gas and propane distribution company, from 1992 to 1999. Previously, Mr. Hunt was President and Chairman of Carnegie Natural Gas Company, a gas distribution and transmission company, and of Apollo Gas Company, a natural gas distributor. Mr. Hunt holds a Bachelor of Engineering degree from the University of Saskatchewan, Canada and a Masters of Business Administration from Southern Methodist University.

Organization Position Status
Patterson-UTI Energy, Inc. Board of Directors Current

Executive News

  • Contango Apparent High Bidder at Western Gulf of Mexico Lease Sale No. 210 and Updates Operations

    Business Wire - 8/19/09 - View Story

  • Tejas Completion Solutions Acquires Team Oil Tools

    Yahoo! Canada - 6/30/09 - View Story

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     PTEN $15.69 -0.09 (-0.57% )
Average Volume 4,841,240
Shares Outstanding 153.60M
Market Cap 2.4B
Year High 18.07
Year Low 7.49
Earnings Per Share 0.39
P/E Ratio 40.23
Dividend 0.20
Yield 1.27
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