PTEN · 10-Q · 2026Q1 · Full report
Acquisition / Partnership / Divestiture
PATTERSON UTI ENERGY INC · 2026-04-28 · Importance 65 · Surprise 82
In January 2026 the company signed a multi‑year agreement to lease two rigs to DLS Archer Ltd. S.A. to support Archer’s operations in Argentina’s Vaca Muerta, expanding international contract exposure. The company completed the divestiture of its oilfield rentals business in April 2025, which materially reduced 'Other' revenues (Q1 2026 Other revenue $6.2 million versus $15.9 million in Q1 2025). Proceeds from disposals and asset sales increased investing cash inflows in Q1 2026 (the company recorded $12.2 million of proceeds from disposal of property and equipment, including insurance recoveries, during the quarter).
Key facts
- In January 2026, we signed a multi-year agreement to lease two rigs to DLS Archer Ltd. S.A. to support Archer’s operations in Argentina’s Vaca Muerta formation.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| revenue | positive | committed | — | In January 2026, we signed a multi-year agreement to lease two rigs to DLS Archer Ltd. S.A. to support Archer’s operations in Argentina’s… |