Patterson-UTI Expects Higher Rig Activity in Q2. Patterson-UTI Energy has provided guidance indicating the company expects to exit the second quarter of 2026 with rig counts ranging between 92 and 95 units, signaling a meaningful inflection point toward increased activity levels. This projection comes as the drilling services sector continues to experience gradual recovery following market pressures that characterized the previous year. The company's outlook reflects growing customer demand and improved market conditions within the onshore drilling segment. Additionally, Patterson-UTI reported near-full utilization rates across its hydraulic fracturing operations, demonstrating strong demand for completion services. Management discussed ongoing pricing negotiations with clients, suggesting the company maintains favorable negotiating positions as activity accelerates.
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