Patterson-uti energy q3 loss per share $1.31

Patterson-uti energy reports financial results for the three and nine months ended september 30, 2019.q3 loss per share $1.31.q3 revenue $598 million versus refinitiv ibes estimate of $605.6 million.q3 earnings per share estimate $-0.30 -- refinitiv ibes data.q3 loss per share $0.27 excluding items.based on contracts currently in place, expect an average of 73 rigs operating under term contracts during q4.now expect capital expenditures of approximately $350 million in 2019, down from prior estimate of $400 million.expect rig count will average 126 rigs for q4.qtrly average rig revenue per operating day were $24,240.qtrly average rig margin per day of $9,790.patterson-uti energy - as expected, operators slowed spending levels during q3, negatively impacting activity levels for drilling & pressure pumping.rig count in q3 of 142 rigs was in line with expectation.in pressure pumping, lower activity levels and increased pricing pressure negatively impacted q3 results.pressure pumping activity is expected to fall further in q4.
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