Exhibit 99.1
Patterson -UTI Energy, Inc.
Raymond James
35th Annual Institutional Investors Conference
March 4-5, 2014
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 or through the SEC’s Electronic Data Gathering and Analysis Retrieval System (EDGAR) at http://www. sec.gov. We undertake no obligation to publicly update or revise any forward -looking statement. Statements made in this presentation include non-GAAP financial measures. The required reconciliation to GAAP financial measures are included on our website and at the end of this presentation. 2
Why Invest in Patterson -UTI Energy?
Technology leader
– Leader in walking rigs for pad drilling
– Innovator in use of natural gas as a fuel source for both drilling and pressure pumping
Customer focused
– Solid relationships with broad and diverse customer base
– Creating value through focus on well site execution
Financially flexible
– Strong balance sheet
– History of share buybacks
– Dividends
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Who We Are
Contract Drilling
High quality fleet of land drilling rigs including 125 APEX® rigs
Leader in walking rig technology for pad drilling applications
Large footprint across North American drilling markets
Components of Revenue
Pressure Pumping 36% Contract Drilling 62% Oil & Natural Gas 2%
Patterson -UTI reported results for the year ended December 31, 2013 5
Pressure Pumping
High quality fleet of modern pressure pumping equipment
A leader in natural gas bi-fuel technology
Strong reputation for safe and efficient operations
Components of Revenue
Pressure Pumping 36% Contract Drilling 62% Oil & Natural Gas 2%
Patterson -UTI reported results for the year ended December 31, 2013 6
Contract
Drilling
Continued Demand for APEX® Rigs
Percentage of Horizontal Wells Continues to Increase
Baker Hughes U.S. Rig Count 80%
% by Drilling Type
70% 60% 50% 40% 30% 20% 10% 0% 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
% Horizontal % Vertical
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APEX® Rig Fleet
APEX® Rigs as of March 4, 2014 …and Expected as of December 31, 2014
Class 3/4/2014 12/31/2014 APEX XK 1500™ 17 36 APEX-XK 1000™ 4 4 APEX WALKING® 49 49 APEX 1500® 44 44 APEX 1000® 11 11 Total APEX® Rigs 125 144
A leader in high specification drilling rigs
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Contribution from High Specification Rigs
Contract Drilling EBITDA Contribution by Rig Class
Year Ended December 31, 2013
Mechanical
APEX® & Other Electric
Preferred rigs account for approximately 87% of Contract Drilling EBITDA
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APEX WALKING® Rigs
Capable of walking with drill pipe and collars racked in derrick
Full multi directional walking capability
Walking times average 45 minutes for 10’ – 15’ well spacing
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http://patenergy.com/drilling/technology/apexwalk
Strong Demand for Pad Drilling
Pad drilling is contributing to increasing rig efficiency
Pad drilling capable rigs are highly utilized
All new APEX® rigs completed in 2014 are expected to have walking systems
http://patenergy.com/drilling/technology
APEX-XK™ Rig Walking on Pad
Video of APEX-XK™ Rig
http://patenergy.com/drilling/technology/apexwalk/ 13
The APEX-XK™
Enhanced mobility including more efficient rig up and rig down
Greater clearance under rig floor for optional walking system
Advanced environmental spill control integrated into drilling floor
Optimized number of truck loads for rig moves
Available in both 1500 HP and 1000 HP
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http://patenergy.com/drilling/technology
Enhancing our Position in Pad Drilling
Walking Systems Can be Added to Any Rig in Our Fleet…
…Allowing for True Multi-Directional Pad Drilling Capabilities
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Enhancing our Position in Pad Drilling
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http://patenergy.com/drilling/technology
Early Adopter of Natural Gas Engines
http://patenergy.com/drilling/technology 17
Using Natural Gas as a Fuel Source
First contract driller to use GE’s Waukesha natural gas engines on a modern land rig
28 rigs currently configured to use natural gas as the primary fuel source including 7 natural gas powered rigs and 21 bi-fuel capable rigs
We plan to add GE Waukesha engines to two additional rigs and upgrade 17 rigs with bi-fuel systems during 2014
Natural gas powered rigs can result in up to 80% lower fuel costs
http://patenergy.com/drilling/technology 18
Large Geographic Footprint
PTEN’s Active U.S. Land Drilling Rigs
as of March 2014
Rockies
32 Rigs
Appalachia
& Midwest Mid-Continent 32 Rigs North Texas 25 Rigs 5 Rigs
East Texas Permian Basin 13 Rigs 53 Rigs
South Texas
36 Rigs
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Pressure Pumping
A Leader in Bi-Fuel Technology
Engines can burn a fuel mix comprised of up to 70% natural gas
Comparable torque and horsepower as an all diesel engine
Reduces operating costs by lowering fuel costs
Good for environmental sustainability
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http://patenergy.com/pressurepumping/services
A Leader in Bi-Fuel Technology
http://patenergy.com/pressurepumping/services 22
A Leader in Bi-Fuel Technology
One of the largest bi-fuel frac fleets in the Marcellus
More than 600 stages completed using natural gas as a fuel source
Replaced more than 332,000 gallons of diesel with cleaner burning natural gas
Eliminated 2.4 million pounds of transportation loads on local roads
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http://patenergy.com/pressurepumping/services
Comprehensive Lab Services
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http://patenergy.com/pressurepumping/services
Financial Flexibility
Investing in Our Company
Capital Expenditures and Acquisitions
($ in millions)
$1,012 $976 $974 $950
$637 $662 $598 $445 $453
2006 2007 2008 2009 2010 2011 2012 2013 2014E
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A Different Size Company
Average 2008-2010 Average 2011-2013
+86%
3,000
2,500
) 2,000
Millions 1,500 +81% ( $ 1,000
500
0
Revenue EBITDA
Strong Financial Position
History of returning capital to investors
Cash Dividend
Initiated cash dividend in 2004
Recently announced doubling of quarterly cash dividend to $0.10 per share
Stock Buyback
Total of $843 million repurchased since 2005
Repurchased $85.8 million of stock in 2013 at an average price of $20.83
Approximately $187 million remaining authorization as of December 31, 2013
Returned approximately $1.2 billion to shareholders since 2005
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Strong Financial Position
Total liquidity of approximately $710 million
$250 million of cash at December 31, 2013
$460 million revolver availability at December 31, 2013
$443 million net debt at September 30, 2013
13.8% Net Debt/Total Capitalization
$300 million of 4.97% Series A notes due October 5, 2020
$300 million of 4.27% Series B notes due June 14, 2022
$92.5 million of 5-year term loan
No equity sales in last 13 years
Reduced share count by 28.4 million shares since 2005
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Patterson -UTI Energy, Inc.
Raymond James
35th Annual Institutional Investors Conference
March 4-5, 2014
Additional References
Active in Unconventional Plays
PTEN’s Active Rigs in Unconventional Areas
as of March 2014
Bakken
20 Rigs
Marcellus
21 Rigs
Utica
11 Rigs
Piceance
2 Rigs
Woodford
2 Rigs
Barnett
2 Rigs
Haynesville
5 Rigs
Eagle Ford
33 Rigs
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Term Contract Coverage
Based on term contracts in place as of February 6, 2014
An average of 124 rigs expected under term contract in the first quarter of 2014
An average of 93 rigs expected under term contract for 2014
Drilling term contract revenue backlog of $946 million at December 31, 2013
PTEN expects to continue signing term contracts
Improving earnings visibility and returns stability 33
Growing Pressure Pumping Business
Recent Investments in Pressure Pumping … …Have Increased Fleet Size and Quality
760
800 rsepower 600 Ho 400
65 Pumping (000s) 200
0 Pressure 2006 2007 2008 2009 2010* 2011 2012 2013
Year End
Fracturing Horsepower Other Horsepower
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* Includes acquisition of approximately 210,000 pressure pumping horsepower in October 2010
Pressure Pumping Areas of Operation
A Significant Player in Regional Markets
Fracturing Horsepower
51% 49%
Northeast Region:
Fracturing horsepower: 332,000 Southwest Region: Other horsepower: 60,600 Fracturing horsepower: 343,000 Other horsepower: 28,000
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Strong Financial Returns
Growth in Per-Share Book Value
CAGR 16.3%
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
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Non-GAAP Financial Measures
PATTERSON -UTI ENERGY, INC.
Non-GAAP Financial Measures (Unaudited) Three Months Ended Twelve Months Ended
(dollars in thousands) December 31, December 31, 2013 2012 2013 2012
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)(1):
Net income $ 16,591 $ 58,859 $ 188,009 $ 299,477 Income tax expense 9,475 35,585 108,432 176,196 Net interest expense 6,947 5,738 27,441 22,196 Depreciation, depletion, amortization and impairment 183,118 132,791 597,469 526,614 EBITDA $ 216,131 $ 232,973 $ 921,351 $1,024,483
Total revenue $ 658,772 $ 652,750 $ 2,716,034 $2,723,414
EBITDA margin 32.8% 35.7% 33.9% 37.6%
EBITDA by operating segment:
Contract drilling $ 172,178 $ 168,982 $ 704,990 $ 739,709 Pressure pumping 45,757 60,856 217,228 243,857 Oil and natural gas 8,757 12,304 44,348 48,627 Corporate and other (10,561) (9,169) (45,215) (7,710) Consolidated EBITDA $ 216,131 $ 232,973 $ 921,351 $1,024,483
(1) EBITDA is not defined by generally accepted accounting principles (“GAAP”) . We present EBITDA (a non-GAAP measure) because we believe it provides additional information with respect to both the performance of our fundamental business activities and our ability to meet our capital expenditures and working capital requirements. EBITDA should not be construed as an alternative to the GAAP measures of net income or operating cash flow.
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Non-GAAP Financial Measures
PATTERSON -UTI ENERGY, INC.
Non-GAAP Financial Measures (Unaudited) (dollars in thousands)
2013 2012 2011 2010 2009 2008
Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)(1):
Net income (loss) $ 188,009 $ 299,477 $ 322,413 $ 116,942 $ (38,290) $ 347,069 Income tax expense (benefit) 108,432 176,196 187,938 72,856 (17,595) 193,490 Net interest expense (income) 27,441 22,196 15,465 11,098 3,767 (923) Depreciation, depletion, amortization and impairment 597,469 526,614 437,279 333,493 289,847 275,990 Net impact of discontinued operations (209) 1,778 1,979 15,190 EBITDA $ 921,351 $ 1,024,483 $ 962,886 $ 536,167 $ 239,708 $ 830,816
Total revenue $ 2,716,034 $ 2,723,414 $ 2,565,943 $ 1,462,931 $ 781,946 $ 2,063,880
EBITDA margin 33.9% 37.6% 37.5% 36.7% 30.7% 40.3%
(1) EBITDA is not defined by generally accepted accounting principles (“GAAP”) . We present EBITDA (a non-GAAP measure) because we believe it provides additional information with respect to both the performance of our fundamental business activities and our ability to meet our capital expenditures and working capital requirements. EBITDA should not be construed as an alternative to the GAAP measures of net income or operating cash flow.
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