Patterson-UTI Energy 8K Regulation FD Disclosure | PTEN 8 Feb 12

Patterson-UTI Energy, Inc.

Credit Suisse Energy Summit

February 8-9, 2012

Exhibit 99.1

Forward Looking Statements

This material and any oral statements made in connection with this material

include "forward-looking statements" within the meaning of the Securities Act

of 1933 and the Securities Exchange Act of 1934. Statements made which

provide the Company’s or management’s intentions, beliefs, expectations or

predictions for the future are forward-looking statements and are inherently

uncertain. The opinions, forecasts, projections or other statements other than

statements of historical fact, including, without limitation, plans and objectives

of management of the Company are forward-looking statements. It is

important to note that actual results could differ materially from those

discussed in such forward-looking statements. Important factors that could

cause actual results to differ materially include the risk factors and other

cautionary statements contained from time to time in the Company’s SEC

filings, which may be obtained by contacting the Company or the SEC. These

filings are also available through the Company’s web site at

http://www.patenergy.com

through

the

SEC’s

Electronic

Data

Gathering

and

Analysis

Retrieval

System

(EDGAR)

http://www.sec.gov.

undertake

obligation to publicly update or revise any forward-looking statement.

Presentation

•

The Energy Environment

•

PTEN’s Land Drilling Business

•

PTEN’s Well Stimulation Business

•

PTEN’s Strategy

•

PTEN Investment Highlights

•

Conclusions

A Transformation in the Energy Industry…

…A Transformation at PTEN

Changing Energy Environment

Source: US Energy Information Administration, Short-Term Energy Outlook, January 10, 2012

Decades of Declining US Crude Oil Production…

Reversed in 2009

4.0

4.5

5.0

5.5

6.0

6.5

7.0

7.5

Changing Energy Environment

Source: US Energy Information Administration, Short-Term Energy Outlook, January 10, 2012

Petroleum Imports as a Percent of Total Consumption…

More Demand Being Satisfied With US Production

10%

20%

30%

40%

50%

60%

70%

Changing Energy Environment –

North America Land-Based Energy

Unconventional drilling and well completion has

evolved:

•

A “manufacturing”

approach to drilling and

well completion

•

Focus on oil & liquids rich plays

•

Unconventional drilling and well completion

techniques being applied to historically

conventional plays

Changing Energy Environment

North America Land-Based Energy

PTEN is well positioned in the two “gating”

areas

•

Land-based drilling

•

Well stimulation

–

Frac equipment well-suited to “new wells”

–

Rigs well-suited to “new wells”

Changing Energy Environment –

Land-Based Drilling

PTEN’s

Drilling

Business

Changing Energy Environment –

Land-Based Drilling

•

A “manufacturing”

approach to drilling

–

Repetitive, assembly line type drilling

–

More plays with multi-well pads

–

Laterals are getting longer

–

Very rig intensive approach to drilling

•

“Preferred”

equipment for these “new wells”

–

1000 to 1500 HP drawworks

–

High capacity mud pumps

–

Top drives

–

Automated drilling systems and pipe handling

–

Quick moving from well completion to well spud

APEX 1500

APEX 1500™

APEX 1000

APEX 1000™

APEX Walking

APEX Walking™

Total New Rigs

Other Electric Rigs

Class

Changing Energy Environment –

Land-Based Drilling

New and Well-Suited Rigs as of December 31, 2011

121

12/31/2012

30 new rigs planned in 2012

175 by the end of 2012

12/31/2011

Currently PTEN has 145 of these “Preferred Rigs”

…and Expected as of December 31, 2012

New APEX Rigs Have Significantly

Increased Fleet Quality.

Changing Energy Environment –

Land-Based Drilling

30 New Rigs expected to be added in 2012

121

100

2008

2009

2010

2011

2012E

120

140

Changing Energy Environment –

Land-Based Drilling

•

Increasing focus on oil & liquids rich plays

–

Horizontal drilling techniques developed for shale gas have

been a “game changer”

for oil and liquids rich shales

–

Approximately 60% of PTEN operating rigs are drilling for oil

or liquids

–

“Fit-for-purpose”

rigs are very active in oil & liquids rich

plays, but not all oil & liquids rich plays require “fit-for-

purpose”

rigs (i.e. Permian and Mississippi Lime)

•

Decreasing Dry Gas Exposure

–

Less than 30 rigs in the US drilling for dry gas under

contracts that are well-to-well or that have an initial term of

less than one year

–

Expect continued rig movement from dry gas to oil and

liquids rich areas

PTEN’s Active Rigs in Unconventional Areas

as of February 2012

Bakken

20 Rigs

Changing Energy Environment –

Land-Based Drilling

5 Rigs

Piceance

7 Rigs

Marcellus

30 Rigs

Barnett

16 Rigs

Eagle Ford

29 Rigs

Haynesville

23 Rigs

Niobrara

1 Rig

Utica

4 Rigs

Pinedale

Woodford

6 Rigs

Changing Energy Environment –

Land-Based Drilling

PTEN has designed three types of land rigs

for these “new wells”:

•

Each designed to meet customer demands in

different markets

–

Each has specific applications for which it is “most suitable”

•

Significance:

–

Drilling is an integral part of the well “manufacturing”

business

•Fast drilling and “speedy”

rig moves

–

APEX Walking ™

rigs and APEX 1000™

provide access to

certain “challenging well locations”

Changing Energy Environment –

Land-Based Drilling

APEX 1000™

APEX 1500™

APEX Walking™

•1000 hp

AC drawworks

•Small footprint, big rig

capability

•Fast move & rig-

•Walking system is an

optional feature

•1500 hp

AC drawworks

•Great all purpose rig

•Fast move & rig-

•Ideal for Eagle Ford,

Barnett, and Haynesville

•1000 to 200 hp

drawworks

•Able to move in all

directions

•Able to “walk”

with mast

up and drill pipe/collars

in the derrick

•A leadership position in

for-

purpose”

rig

category

this “fit-

Changing Energy Environment –

Land-Based Drilling

Video of Walking Rig Moving

Changing Energy Environment –

Land-Based Drilling

•

PTEN has approximately 180 other rigs in the fleet

•

Approximately 100 of these are active as of February

2012

•

As oil and “other liquids”

plays emerge, these rigs

should be in greater demand

Changing Energy Environment –

Land-Based Drilling

•

PTEN is a “preferred provider”

for conventional

drilling rigs

–

Major upgrade program has provided:

–

PTEN commitment to customers and service

•

PTEN’s large fleet provides substantial

“upside”

if drilling continues to increase

Improved mud systems

Iron roughnecks and other automation

Enhanced mobility

Major rig refurbishments

Changing Energy Environment –

Land-based Drilling

•

Long term contracts

–

PTEN expects to average 120 rigs under term

contract in 2012 including 131 in the first quarter

–

Approximately 60% of active rigs in the US are

committed under term contracts

–

Term contracts have an initial duration of at least

12 months

–

Provides estimated future dayrate drilling revenue

stream of approximately $1.8 billion for 2012 and

beyond

–

Continued customer interest in term agreements

with PTEN

Changing Energy Environment –

Well Stimulation

PTEN’s

Pressure

Pumping

Business

Changing Energy Environment –

Well Stimulation

•

Changing Significance of Well Stimulation

–

Shale and other unconventional plays changed the

business

•

–

Changing equipment (“quints”) and crew

competencies

–

Key to unlocking long laterals and greatly increased

shale production

Substantial increases in horizontal completions

Increasing number of stages per well

Substantially higher HP requirements

Higher pressures and higher volumes

Changing Energy Environment –

Well Stimulation

•

Pressure pumping

–

PTEN has been in the business for more than 30

years

–

Well positioned for Eagle Ford, Marcellus, and Utica

shales

–

Strong regional management and infrastructure

–

Consistent reputation for customer service and

operational excellence

–

Strong, long-term record of organic growth in

revenue and EBITDA

Changing Energy Environment –

Well Stimulation

Service Areas

Northeast

Region

Southwest

Region

Changing Energy Environment –

Well Stimulation

Fracturing Equipment

Nitrogen /

Cement / Acid

Unit

183 Quintiplex

91 Triplex

130 Pumpers

Horsepower

549,500 HP

81,570 HP

As of December 31, 2011

…and Expected as of December 31, 2012

Total of approx. 774,000 HP (based upon current orders)

239 Quintiplex

91 Triplex

133 Pumpers

12/31/2012

689,500 HP

84,600 HP

12/31/2012

Changing Energy Environment –

Well Stimulation

•

Shortage of quality equipment & crews has

encouraged long-term contracts in pressure

pumping

•

PTEN has 5 frac crews under term contract

–

1 in S. Texas

–

2 in Permian

–

2 in Marcellus

•

Approximately 155,000 HP under term

contract

•

Currently in negotiations for additional

commitments

PTEN’s Strategic Approach

PTEN’s Strategic Approach

•

Concentrate on two core businesses

•

Plan to continue to grow organically

–

PTEN has the balance sheet and expected cash

flow to support continued organic growth in both

businesses

–

Acquisitions

and

dispositions

only

when

the

price

right

•

Customer demand in both businesses support

term contracts

–

PTEN continuing to enter into term contracts for

rigs & frac crews

PTEN Investment

Highlights

PTEN Investment Highlights

Components of

Total Revenue

Operating Income

Contract Drilling

65%

Pressure

Pumping

33%

Oil & Natural

Gas

Segment ($ in 000’s)

Contract Drilling

$346,083

Pressure Pumping

193,440

Oil & Natural Gas

23,982

Corporate & Other

(37,904)

Total

$525,601

PTEN Investment Highlights

•

No equity sales in more than 11 years

•

History of returning capital to investors

–

Stock Buyback

•

Total of $592 million in 2006 through 2008

–

Cash Dividend

•

Initiated cash dividend in 2004

•

Quarterly dividend currently $0.05 per share

PTEN Investment Highlights

•

Leading market position

–

One of the “Big 3”

US land drillers

–

One of the largest pressure pumping companies in the US

–

Well positioned to grow organically and through

opportunistic acquisition

•

Diverse asset base

–

Drilling rigs well-matched to customers’

needs

–

Well stimulation assets that meet customers’

needs

•

Favorable industry trends

–

Emerging shale and unconventional resource plays

–

US land drilling and pressure pumping are major

beneficiaries of these trends

PTEN Investment Highlights

•

Flexible operating model

–

Maximizes earnings growth during periods of increased

activity

–

Minimizes costs during periods of low activity

–

Strong cash flow generation

•

Strong management team

–

Prudent financial management

–

Operational management that is customer responsive

–

Proven track record through numerous cycles

•

Strong financial position

–

Low leverage

–

Adequate liquidity to meet medium-term growth and capex

needs

PTEN Investment Highlights

Growth in Shareholder Equity

The Warren Buffet Standard

500

1,000

1,500

2,000

2,500

3,000

Thousands

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

500

1,000

1,500

2,000

2,500

3,000

Thousands

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

•

Favorable trends are likely to persist in North

American oil and natural gas markets

•

US Land Drilling and Pressure Pumping are major

beneficiaries of the new trends

•

Patterson-UTI has the right assets:

–

Drilling rigs well-matched to the customers’

needs

–

Well stimulation assets that meet customers’

needs

–

Operational management that is customer responsive

–

Prudent financial management

•

Long-term record of building shareholder equity

Conclusions

Patterson-UTI Energy, Inc.

Credit Suisse Energy Summit

February 8-9, 2012

Patterson-UTI Energy (PTEN) 8-KRegulation FD Disclosure