Patterson-UTI 3Q15: $226M Loss, But Not as Bad as it Seems

not as bad as it seemsPatterson-UTI Energy is an oilfield services company, running in the same circles as Schlumberger, Halliburton and Baker Hughes. We previously reported the hammering oilfield services companies have been getting in the market. Not only are energy companies drilling less (laying rigs down), energy companies are pressuring oilfield services companies–the companies that do the actual drilling and fracking–to lower their prices. Less work and lower money for the work you’re doing has taken it’s toll. However, these companies are handling the downturn in different ways. Patterson-UTI, like several of its competitors, lost money in 3Q15–but Patterson’s loss cut much deeper (and makes us wonder if it’s ripe for a takeover). Let us explain…

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