Patterson-UTI Reports 103 US Drilling Rigs Operating in May 2025

Patterson-UTI Energy Inc. (NASDAQ:PTEN) is one of the best high short interest stocks with huge upside potential. Earlier in June, Patterson-UTI Energy reported its drilling activity for May this year. For the whole month, the company had an average of 103 drilling rigs operating in the US.

Looking at a broader period, the average number of drilling rigs operating in the US for the 2 months ended May 31 this year was 106. Average drilling rigs operating reported in Patterson-UTI Energy’s monthly announcements represent the average number of the Company’s drilling rigs that were earning revenue under a drilling contract in the US.

Patterson-UTI Reports 103 US Drilling Rigs Operating in May 2025

A drilling site in the wilds of nature, highlighting the company’s commitment to exploration.

The company clarifies that the “average drilling rigs operating” reported in their monthly announcements represent rigs that were actively earning revenue under a drilling contract in the US. Patterson-UTI cautions that this metric alone does not fully impact the company’s operating results, as numerous other factors can influence financial performance as well.

Patterson-UTI Energy Inc. (NASDAQ:PTEN) intends to continue providing monthly updates on drilling rig activity shortly after the end of each month. The company provides contract drilling services, integrated well completion services, and directional drilling services in the US, as well as specialized drill bit solutions in the US, the Middle East, and other international regions.

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Disclosure: None. This article is originally published at Insider Monkey.