Last10K.com

Patterson Uti Energy Inc (PTEN) SEC Filing 10-K Annual report for the fiscal year ending Tuesday, December 31, 2013

SEC Filings

Patterson Uti Energy Inc

CIK: 889900 Ticker: PTEN

Exhibit 99.1

Contact: Mike Drickamer
Director, Investor Relations
Patterson-UTI Energy, Inc.
(281) 765-7170

Patterson-UTI Energy Reports Financial Results for Three and Twelve Months Ended December 31,
2013

Doubles Quarterly Dividend

HOUSTON, Texas – February 6, 2014 – PATTERSON-UTI ENERGY, INC. (NASDAQ: PTEN)

today reported financial results for the three and twelve months ended December 31, 2013. The Company reported net income of $16.6 million, or $0.11 per share, for the fourth quarter of 2013, compared to net income of $58.9 million, or $0.40 per share, for the quarter ended December 31, 2012. Revenues for the fourth quarter of 2013 were $659 million, compared to $653 million for the fourth quarter of 2012.

The financial results for the three months ended December 31, 2013 included a pretax non-cash charge of $37.8 million ($24.1 million after-tax or $0.17 per share) related to the Company’s mechanically powered rig fleet. This non-cash charge included the retirement of 48 mechanical drilling rigs.

The Company reported net income of $188 million, or $1.28 per share, for the year ended December 31, 2013, compared to net income of $299 million, or $1.96 per share, for the year ended December 31, 2012. Revenues for the year ended December 31, 2013 were $2.7 billion, compared to $2.7 billion for 2012.

The Company declared a quarterly cash dividend on its common stock of $0.10 per share, to be paid on March 27, 2014 to holders of record as of March 12, 2014. This dividend represents a doubling of the Company’s recent quarterly cash dividends.

Andy Hendricks, Patterson-UTI’s Chief Executive Officer, stated, “We are pleased with our rig count growth in the latter part of the fourth quarter, as our average rig count in the United States increased to 187 rigs in December from 178 in October. Demand is strong for high-specification APEX® rigs, and utilization remains high. Additionally, demand has improved for our fleet of non-APEX electric rigs. In total, during the fourth quarter, our average operating rig count in the United States increased to 183 rigs from 181 in the third quarter and our average operating rig count in Canada increased to nine from eight in the third quarter.”

Mr. Hendricks added, “During the fourth quarter, we recognized $2.4 million of revenues related to early contract terminations, which positively impacted our average rig revenue per day of $23,300 by approximately $130. Excluding the impact of early termination revenue in both the third and fourth quarters, average rig revenue per day increased $520 to $23,170 in the fourth quarter from $22,650 in the third quarter.

“In addition to the increase in average revenue per day, average rig operating costs per day decreased $240 sequentially to $13,510 in the fourth quarter from $13,750 in the third quarter. Accordingly, excluding the positive impact from the early termination revenues in both the third and fourth quarters, average rig margin per day increased $760 to $9,660 in the fourth quarter from $8,900 in the third quarter.

“We completed three new APEX® rigs during the fourth quarter for a total of 11 new APEX® rigs during 2013. We plan to complete 20 new APEX® rigs during 2014, including three in the first quarter. Since our last earnings release, we have contracted seven new APEX® rigs, resulting in 10 of our planned new APEX® rigs for 2014 being under contract.

“As of December 31, 2013, we had term contracts for drilling rigs providing for approximately $946 million of future dayrate drilling revenue. Based on contracts currently in place, we expect an average of 124 rigs operating under term contracts during the first quarter, and an average of 93 rigs operating under term contracts during 2014.

“As expected, in pressure pumping, the seasonal decline in activity during the fourth quarter resulted in a sequential decrease in revenues. Despite this decrease, our gross margin modestly improved to 21.5% of revenues. Pressure pumping EBITDA during the fourth quarter was $45.8 million,” he concluded.

Mark S. Siegel, Chairman of Patterson-UTI, stated, “During 2013 we grew our fleet of high-specification APEX® rigs to 124, and for the year we achieved better than 95% utilization of these rigs. As customer demand increased during the fourth quarter, we were quickly able to respond by reactivating non-APEX electric rigs to satisfy this need. Our fleet of high-specification APEX® rigs and other electric drilling rigs now represents almost two-thirds of our total rig fleet, and accounted for approximately 87% of contract drilling EBITDA during 2013.

“The increasing demand for high-specification rigs to drill complex, horizontal wells continues. More recently the focus on horizontal wells in the Permian Basin has accelerated, and we are well positioned as a market leader in this region and in walking rig technology for pad drilling.

“Although pressure pumping remains competitive, the increase in complex, horizontal wells should positively impact activity in 2014. Our focus on well-site execution and customer relationships has generated competitive advantages for us, and allowed us to activate equipment at the beginning of 2013 and keep our equipment active during the year.”

Mr. Siegel added, “Our Board doubled the quarterly cash dividend in recognition that the Company’s transformation has had a profound impact on our financial results. We embark on this higher payout to our shareholders based on our belief that we are now – as a result of a multi-year investment program – a far stronger company with significantly improved businesses and prospects. In addition, during 2013 we repurchased approximately $85.8 million of stock at an average price of $20.83 per share, and we have approximately $187 million remaining under our stock buyback program,” he concluded.

The financial results for the year ended December 31, 2013 include the aforementioned pretax charge of $37.8 million ($24.1 million after-tax) related to the Company’s mechanically powered rig fleet, $62.8 million of revenues from the early termination of six rigs in the third quarter, and $1.7 million of selling, general and administrative expenses related to the evaluation of and preparation for international opportunities. Included in the financial results for the year ended December 31, 2012 are pretax charges totaling $13.5 million ($8.4 million after-tax) from the retirement of equipment and the refinancing of the Company’s revolving credit facility, and a pretax gain on the sale of assets of $27.2 million ($17.2 million after-tax) related to the sale of the Company’s flowback operations and the auction sale of certain excess drilling assets.

All references to “net income per share” in this press release are diluted earnings per common share as defined within Accounting Standards Codification Topic 260.

The Company’s quarterly conference call to discuss the operating results for the quarter ended December 31, 2013 is scheduled for today, February 6, 2014 at 9:00 a.m. Central Time. The dial-in information for participants is 877-280-4954 (Domestic) and 857-244-7311 (International). The access code for both numbers is 45835874. The call is also being webcast and can be accessed through the Investor Relations section at www.patenergy.com. Webcast participants should log on 10-15 minutes prior to the scheduled start time. A replay of the conference call will be on the Company’s website for two weeks. A telephonic replay will be available through February 10, 2014 at 888-286-8010 (Domestic) and 617-801-6888 (International) with the access code 31035186.

About Patterson-UTI

Patterson-UTI Energy, Inc. subsidiaries provide onshore contract drilling and pressure pumping services to exploration and production companies in North America. Patterson-UTI Drilling Company LLC and its subsidiaries have more than 275 marketable land-based drilling rigs and operate primarily in oil and natural gas producing regions in the continental United States, Alaska, and western and northern Canada. Universal Pressure Pumping, Inc. and Universal Well Services, Inc. provide pressure pumping services primarily in Texas and the Appalachian region.

Location information about the Company’s drilling rigs and their individual inventories is available through the Company’s website at www.patenergy.com.

Statements made in this press release which state the Company’s or management’s intentions, beliefs, expectations or predictions for the future are forward-looking statements. It is important to note that actual results could differ materially from those discussed in such forward-looking statements. Important factors that could cause actual results to differ materially include, but are not limited to, deterioration of global economic conditions, declines in customer spending and in oil and natural gas prices that could adversely affect demand for the Company’s services, and their associated effect on rates, utilization, margins and planned capital expenditures, excess availability of land drilling rigs and pressure pumping equipment, including as a result of reactivation or construction, adverse industry conditions, adverse credit and equity market conditions, difficulty in integrating acquisitions, shortages of labor, equipment, supplies and materials, supplier issues, weather, loss of key customers, liabilities from operations, changes in technology and efficiencies, governmental regulation and ability to retain management and field personnel. 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 the Company’s SEC filings, which may be obtained by contacting the Company or the SEC. These filings are also available through the Company’s web site at http://www.patenergy.com or through the SEC’s Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www.sec.gov. We undertake no obligation to publicly update or revise any forward-looking statement.

PATTERSON-UTI ENERGY, INC.
Condensed Consolidated Statements of Income (Unaudited)
(in thousands, except per share amounts)

                                 
    Three Months Ended   Twelve Months Ended
    December 31,   December 31,
    2013   2012   2013   2012
REVENUES
  $ 658,772     $ 652,750     $ 2,716,034     $ 2,723,414  
COSTS AND EXPENSES
                               
Direct operating costs
    426,094       404,697       1,725,906       1,667,672  
Depreciation, depletion, amortization and impairment
    183,118       132,791       597,469       526,614  
Selling, general and administrative
    18,556       16,664       73,852       64,473  
Net gain on asset disposals
    (1,098 )     (1,111 )     (3,384 )     (33,806 )
Provision for bad debts
          (500 )           1,100  
 
                               
Total costs and expenses
    626,670       552,541       2,393,843       2,226,053  
 
                               
OPERATING INCOME
    32,102       100,209       322,191       497,361  
 
                               
OTHER INCOME (EXPENSE)
                               
Interest income
    202       172       918       554  
Interest expense
    (7,149 )     (5,910 )     (28,359 )     (22,750 )
Other
    911       (27 )     1,691       508  
 
                               
Total other expense
    (6,036 )     (5,765 )     (25,750 )     (21,688 )
 
                               
INCOME BEFORE INCOME TAXES
    26,066       94,444       296,441       475,673  
INCOME TAX EXPENSE
    9,475       35,585       108,432       176,196  
 
                               
NET INCOME
  $ 16,591     $ 58,859     $ 188,009     $ 299,477  
 
                               
NET INCOME PER COMMON SHARE
                               
Basic
  $ 0.12     $ 0.40     $ 1.29     $ 1.96  
Diluted
  $ 0.11     $ 0.40     $ 1.28     $ 1.96  
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
                               
Basic
    142,698       146,895       144,356       151,144  
 
                               
Diluted
    144,170       147,515       145,303       151,699  
 
                               
CASH DIVIDENDS PER COMMON SHARE
  $ 0.05     $ 0.05     $ 0.20     $ 0.20  
 
                               

PATTERSON-UTI ENERGY, INC.
Additional Financial and Operating Data (Unaudited)
(dollars in thousands)

                                 
    Three Months Ended   Twelve Months Ended
    December 31,   December 31,
    2013   2012   2013   2012
Contract Drilling:
                               
Revenues
  $ 412,667     $ 425,247     $ 1,679,611     $ 1,821,713  
Direct operating costs
  $ 239,166     $ 254,580     $ 968,754     $ 1,075,491  
Margin (1)
  $ 173,501     $ 170,667     $ 710,857     $ 746,222  
Selling, general and administrative
  $ 1,323     $ 1,685     $ 5,867     $ 6,513  
Depreciation, amortization and impairment
  $ 141,787     $ 99,863     $ 438,728     $ 390,316  
Operating income
  $ 30,391     $ 69,119     $ 266,262     $ 349,393  
Operating days – United States
    16,854       18,247       67,157       78,420  
Operating days – Canada
    855       683       2,761       2,413  
Total operating days
    17,709       18,930       69,918       80,833  
Average revenue per operating day – United States
  $ 22.84     $ 21.99     $ 23.72     $ 22.22  
Average direct operating costs per operating day – United States
  $ 13.15     $ 13.11     $ 13.59     $ 13.03  
Average margin per operating day – United States (1)
  $ 9.69     $ 8.89     $ 10.13     $ 9.19  
Average rigs operating – United States
    183       198       184       214  
Average revenue per operating day – Canada
  $ 32.43     $ 35.03     $ 31.35     $ 32.92  
Average direct operating costs per operating day – Canada
  $ 20.48     $ 22.58     $ 20.37     $ 22.29  
Average margin per operating day – Canada (1)
  $ 11.95     $ 12.45     $ 10.98     $ 10.63  
Average rigs operating – Canada
    9       7       8       7  
Average revenue per operating day – Total
  $ 23.30     $ 22.46     $ 24.02     $ 22.54  
Average direct operating costs per operating day – Total
  $ 13.51     $ 13.45     $ 13.86     $ 13.31  
Average margin per operating day – Total (1)
  $ 9.80     $ 9.02     $ 10.17     $ 9.23  
Average rigs operating – Total
    192       206       192       221  
Capital expenditures
  $ 140,672     $ 179,597     $ 504,508     $ 744,949  
Pressure Pumping:
                               
Revenues
  $ 234,177     $ 211,913     $ 979,166     $ 841,771  
Direct operating costs
  $ 183,757     $ 146,831     $ 744,243     $ 580,878  
Margin (2)
  $ 50,420     $ 65,082     $ 234,923     $ 260,893  
Selling, general and administrative
  $ 4,663     $ 4,226     $ 17,695     $ 17,036  
Depreciation, amortization and impairment
  $ 34,199     $ 26,703     $ 129,984     $ 111,062  
Operating income
  $ 11,558     $ 34,153     $ 87,244     $ 132,795  
Fracturing jobs
    324       277       1,261       1,229  
Other jobs
    1,165       1,198       4,800       5,659  
Total jobs
    1,489       1,475       6,061       6,888  
Average revenue per fracturing job
  $ 652.11     $ 675.44     $ 705.57     $ 590.70  
Average revenue per other job
  $ 19.65     $ 20.71     $ 18.63     $ 20.46  
Total average revenue per job
  $ 157.27     $ 143.67     $ 161.55     $ 122.21  
Total average costs per job
  $ 123.41     $ 99.55     $ 122.79     $ 84.33  
Total average margin per job (2)
  $ 33.86     $ 44.12     $ 38.76     $ 37.88  
Margin as a percentage of revenues (2)
    21.5 %     30.7 %     24.0 %     31.0 %
Capital expenditures
  $ 28,852     $ 41,585     $ 122,782     $ 194,117  
Oil and Natural Gas Production and Exploration:
                               
Revenues – Oil
  $ 10,544     $ 14,456     $ 51,583     $ 55,335  
Revenues – Natural gas and liquids
  $ 1,384     $ 1,134     $ 5,674     $ 4,595  
Revenues – Total
  $ 11,928     $ 15,590     $ 57,257     $ 59,930  
Direct operating costs
  $ 3,171     $ 3,286     $ 12,909     $ 11,303  
Margin (3)
  $ 8,757     $ 12,304     $ 44,348     $ 48,627  
Depletion
  $ 4,544     $ 5,019     $ 20,370     $ 19,551  
Impairment of oil and natural gas properties
  $ 1,454     $ 252     $ 4,030     $ 1,866  
Operating income
  $ 2,759     $ 7,033     $ 19,948     $ 27,210  
Capital expenditures
  $ 8,320     $ 7,264     $ 31,245     $ 29,888  
Corporate and Other:
                               
Selling, general and administrative
  $ 12,570     $ 10,753     $ 50,290     $ 40,924  
Depreciation
  $ 1,134     $ 954     $ 4,357     $ 3,819  
Net gain on asset disposals
  $ (1,098 )   $ (1,111 )   $ (3,384 )   $ (33,806 )
Provision for bad debts
  $     $ (500 )   $     $ 1,100  
Capital expenditures
  $ 1,288     $ 1,194     $ 3,926     $ 5,034  
Total capital expenditures
  $ 179,132     $ 229,640     $ 662,461     $ 973,988  
                 
(1) For Contract Drilling, margin is defined as revenues less direct operating costs and excludes depreciation, amortization and impairment and selling,
general and administrative expenses. Average margin per operating day is defined as margin divided by operating days.
(2) For Pressure Pumping, margin is defined as revenues less direct operating costs and excludes depreciation, amortization and impairment and selling,
general and administrative expenses. Total average margin per job is defined as margin divided by total jobs. Margin as a percentage of revenues is defined
as margin divided by revenues.        
(3) For Oil and Natural Gas Production and Exploration, margin is defined as revenues less direct operating costs and excludes depletion and impairment.
    December 31,   December 31,
Selected Balance Sheet Data (Unaudited):   2013   2012
Cash and cash equivalents
  $ 249,509     $ 110,723  
Current assets
  $ 808,650     $ 699,991  
Current liabilities
  $ 354,277     $ 359,863  
Working capital
  $ 454,373     $ 340,128  
Current portion of long-term debt
  $ 10,000     $ 6,250  
Long-term debt
  $ 682,500     $ 692,500  

PATTERSON-UTI ENERGY, INC.
Non-GAAP Financial Measures (Unaudited)
(dollars in thousands)

                                 
    Three Months Ended   Twelve Months Ended
    December 31,   December 31,
    2013   2012   2013   2012
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)(1):
                               
Net income
  $ 16,591     $ 58,859     $ 188,009     $ 299,477  
Income tax expense
    9,475       35,585       108,432       176,196  
Net interest expense
    6,947       5,738       27,441       22,196  
Depreciation, depletion, amortization and impairment
    183,118       132,791       597,469       526,614  
 
                               
EBITDA
  $ 216,131     $ 232,973     $ 921,351     $ 1,024,483  
 
                               
Total revenue
  $ 658,772     $ 652,750     $ 2,716,034     $ 2,723,414  
EBITDA margin
    32.8 %     35.7 %     33.9 %     37.6 %
EBITDA by operating segment:
                               
Contract drilling
  $ 172,178     $ 168,982     $ 704,990     $ 739,709  
Pressure pumping
    45,757       60,856       217,228       243,857  
Oil and natural gas
    8,757       12,304       44,348       48,627  
Corporate and other
    (10,561 )     (9,169 )     (45,215 )     (7,710 )
 
                               
Consolidated EBITDA
  $ 216,131     $ 232,973     $ 921,351     $ 1,024,483  
 
                               
(1) EBITDA is not defined by generally accepted accounting principles (“GAAP”). We present EBITDA (a non-GAAP measure) because we believe it provides additional information with respect to both the performance of our fundamental business activities and our ability to meet our capital expenditures and working capital requirements. EBITDA should not be construed as an alternative to the GAAP measures of net income or operating cash flow.

PATTERSON-UTI ENERGY, INC.
Impact of Non-Cash Charge (Unaudited)
Three Months Ended December 31, 2013
(Dollars in thousands, except per share amount)

         
Pre-tax charge
  $ (37,846 )
 
       
Effective tax rate
    36.4 %
 
       
After-tax charge
  $ (24,089 )
 
       
Weighted average number of common shares outstanding - diluted
    144,170  
 
       
Impact on net income per share — diluted
  $ (0.17 )
 
       
                         
 
PATTERSON-UTI ENERGY, INC. Impact of Early Termination Revenue (Unaudited) Third and Fourth Quarters of 2013 (Dollars in thousands)
 
  Fourth Quarter   Third Quarter   Change
 
                       
Operating days
    17,709       17,442       267  
 
                       
Contract drilling revenue
  $ 412,667     $ 457,871     $ (45,204 )
Less early termination revenue
    2,369       62,846       (60,477 )
 
                       
Contract drilling revenue excluding early termination revenue
    410,298       395,025       15,273  
Direct operating costs
    239,166       239,768       (602 )
 
                       
Margin excluding early termination revenue
  $ 171,132     $ 155,257     $ 15,875  
 
                       
Average contract drilling revenue per operating day
  $ 23.30     $ 26.25     $ (2.95 )
Less average early termination revenue per operating day
    0.13       3.60       (3.47 )
 
                       
Average contract drilling revenue excluding early termination revenue per operating day
    23.17       22.65       0.52  
Average direct operating costs per operating day
    13.51       13.75       (0.24 )
 
                       
Average margin excluding early termination revenue per operating day
  $ 9.66     $ 8.90     $ 0.76  
 
                       


The following information was filed by Patterson Uti Energy Inc (PTEN) on Thursday, February 6, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Patterson Uti Energy Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Patterson Uti Energy Inc.

Continue

Assess how Patterson Uti Energy Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Patterson Uti Energy Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2014 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Cash Flows (parenthetical)
Consolidated Statements Of Changes In Stockholders' Equity
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (parenthetical)
Consolidated Statements Of Operations
Accrued Expenses
Accrued Expenses (tables)
Accrued Expenses - Additional Information (detail)
Additional Information On Non Vested Restricted Stock (detail)
Additional Information With Respect To Non-vested Shares (detail)
Additional Information With Respect To Options Granted, Vested And Exercised (detail)
Asset Retirement Obligation
Asset Retirement Obligation (tables)
Business Segments
Business Segments (tables)
Business Segments - Additional Information (detail)
Business Segments - Assets (detail)
Business Segments - Capital Expenditures (detail)
Business Segments - Depreciation, Amortization And Improvement (detail)
Business Segments - Income (loss) From Continuing Operations Before Income Taxes (detail)
Business Segments - Revenues (detail)
Calculation Of Income (loss) Per Share From Continuing And Discontinued Operations (detail)
Cash Dividends (detail)
Changes To Company's Asset Retirement Obligations (detail)
Commitments Contingencies And Other Matters - Additional Information (detail)
Commitments, Contingencies And Other Matters
Company's Demand Deposits And Temporary Cash Investments (detail)
Company's Share-based Compensation Plans (detail)
Compensation Expense Associated With Stock-settled Performance Units (detail)
Components Of Income Tax Provision (detail)
Concentrations Of Credit Risk
Concentrations Of Credit Risk (tables)
Concentrations Of Credit Risk - Additional Information (detail)
Depreciation, Depletion, Amortization And Impairment Expense Related To Property And Equipment And Intangible Assets (detail)
Description Of Business And Summary Of Significant Accounting Policies
Description Of Business And Summary Of Significant Accounting Policies (policies)
Description Of Business And Summary Of Significant Accounting Policies (tables)
Difference Between Statutory Federal Income Tax Rate And Effective Income Rate (detail)
Discontinued Operations
Discontinued Operations (tables)
Discontinued Operations - Additional Information (detail)
Employee Benefits
Employee Benefits - Additional Information (detail)
Estimated Fair Value Of Outstanding Debt Balances (detail)
Estimated Useful Lives Of Property And Equipment (detail)
Fair Value Of Stock Settled Performance Units (detail)
Fair Values Of Financial Instruments
Fair Values Of Financial Instruments (tables)
Fair Values Of Financial Instruments - Additional Information (detail)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets - Additional Information (detail)
Goodwill By Operating Segment (detail)
Gross Carrying Amount And Accumulated Amortization Of Intangible Assets (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Leases
Leases - Additional Information (detail)
Long Term Debt
Long Term Debt (tables)
Long Term Debt - Additional Information (detail)
Property And Equipment
Property And Equipment (detail)
Property And Equipment (tables)
Property And Equipment - Additional Information (detail)
Quarterly Financial Information
Quarterly Financial Information (detail)
Quarterly Financial Information (tables)
Restricted Stock Activity (detail)
Restricted Stock Unit Activity (detail)
Schedule Of Principal Repayment Requirements Of Long Term Debt (detail)
Stock Option Activity (detail)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Additional Information (detail)
Stock-settled Performance Units (detail)
Stockholders' Equity
Stockholders' Equity (tables)
Stockholders' Equity - Additional Information (detail)
Summary Of Accrued Expenses (detail)
Summary Of Operating Results From Discontinued Operations (detail)
Tax Effect Of Significant Temporary Differences Representing Deferred Tax Assets And Liabilities (detail)
Treasury Stock Acquisition (detail)
Valuation And Qualifying Accounts
Valuation And Qualifying Accounts (detail)
Valuation And Qualifying Accounts (tables)
Weighted-average Assumptions Used To Estimate Grant Date Fair Values For Stock Options Granted (detail)
Ticker: PTEN
CIK: 889900
Form Type: 10-K Annual Report
Accession Number: 0001193125-14-054910
Submitted to the SEC: Fri Feb 14 2014 4:33:11 PM EST
Accepted by the SEC: Fri Feb 14 2014
Period: Tuesday, December 31, 2013
Industry: Drilling Oil And Gas Wells

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/pten/0001193125-14-054910.htm