PTEN · 10-Q · 2026Q1 · Full report
Capital Expenditures and Uses
PATTERSON UTI ENERGY INC · 2026-04-28 · Importance 44 · Surprise 24
For Q1 2026 Patterson-UTI reports uses of cash that included $117 million of capital expenditures for betterment and refurbishment of drilling services and completion services equipment and procurement to support drilling services, completion services and drilling products operations. The company states a total of $63.9 million cash from operating activities and $12.2 million proceeds from disposals in the quarter, offset by investing outflows and financing activities including $38.0 million in dividends. Management indicates the majority of capex is for normal, recurring items and that a portion of capital expenditures can be adjusted to match market demand and activity levels. The company also notes commitments to purchase major equipment (≈$128 million) and the ability to manage capex through borrowing capacity if required.
Key facts
- During the three months ended March 31, 2026, we used $117 million to make capital expenditures for betterment and refurbishment of drilling services and completion services equipment.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -2.1% | During the three months ended March 31, 2026, we used $117 million to make capital expenditures for betterment and refurbishment of… |
| assets | positive | realized | +2.1% | During the three months ended March 31, 2026, we used $117 million to make capital expenditures for betterment and refurbishment of… |