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Patterson-UTI Energy To Acquire Pioneer Energy Services In $295 Mln Deal

Patterson-UTI Energy To Acquire Pioneer Energy Services In $295 Mln Deal
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Hydraulic Fracturing Market Size Key Opportunities, Strategic Assessment, Strong Revenue and Forecast to 2026 | Major Players: Baker Hughes, Calfrac Well, Fts International, Halliburton, Nabors Industries, etc. – KSU

The latest research report on the Global Hydraulic Fracturing Market provides the cumulative study on the COVID-19 outbreak to provide the latest info ....

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Patterson-Uti Energy Q4 Loss Widens

Patterson-Uti Energy Q4 Loss Widens
WASHINGTON (dpa-AFX) - Patterson-Uti Energy Inc. (PTEN) reported that its fourth-quarter net loss widened to $107 million, or $0.57 per share from $85.9 million or $0.44 per share in the fourth quarter of 2019.
Revenues for the fourth quarter of 2020 were $221 million, compared to $492 million for the fourth quarter of 2019.
Analysts polled by Thomson Reuters expected the company to report a loss of $0.62 per share and revenues of $218.12 million for the quarter. Analysts estimates typically exclude special items.
The company declared a quarterly dividend on its common stock of $0.02 per share, payable on March 18, 2021, to holders of record as of March 4, 2021. ....

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Why Patterson-UTI Energy's Stock Is Trading Lower Today

Share:
Paterson-Uti Energy (NASDAQ: PTEN) shares were trading lower on Thursday after the company reported fourth-quarter results. While the company beat estimates, EPS and sales fell year over year.
Patterson-UTI Energy is one of the largest North America-based land rig drilling contractors. Its fleet consists of about 315 land rigs, which it markets to independents and small producers. The firm also operates a pressure pumping division and owns a small financial interest in oil and gas exploration and production assets in Texas and New Mexico.
Patterson-UTI Energy shares were trading down 9.94% at $6.02. The stock has a 52-week high of $8.52 and low of $1.61. ....

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