Earnings Call Excerpt
Patterson-UTI Energy Inc. (PTEN)
Q4 2008 Earnings Call
February 12, 2009 10:00 am ET
Executives
Jeff Lloyd – Media Contact
Mark S. Siegel – Chairman of the Board
Douglas J. Wall – President, Chief Executive Officer
John E. Vollmer III – Chief Financial Officer
Analysts
Jeff Tillery – Tudor, Pickering & Holt
Arun Jayaram – Credit Suisse
Marshall Adkins – Raymond James
James West – Barclays Capital
Mark Brown – Pritchard Capital Partners LLC
Kevin Pollard – JP Morgan
Mike Urban – Deutsche Bank
Geoff Kieburtz – Weeden & Co.
John Daniels – Simmons and Company
Alan Laws – Bank of America
Andrew Coleman – UBS
Judson Bailey – Jefferies & Co.
Mike Clark – SIR Capital
Presentation
Operator
Welcome to the Fourth Quarter 2008 Patterson-UTI Energy Inc. Earnings Conference Call. My name is [Latrice]; I will be your coordinator for today's conference. At this time, all participants will be in a listen only mode. We will conduct a question and answer session towards the end of this conference.
(Operator Instructions) As a reminder, this conference is being recorded for replay purposes, and I will now turn the call over to your host for today's conference, Mr. Jeff Lloyd, on behalf of Patterson-UTI Energy.
Jeff Lloyd
Thank you very much and good morning to everybody. On behalf of Patterson-UTI Energy, I'd like to just welcome you to today's conference call to discuss the results of the three and twelve months ended of December 31, 2008.
Participating in today's call will be Mark Siegel, Chairman, Douglas Wall, Chief Executive Officer, and John Vollmer, Chief Financial Officer.
Again, just a quick reminder that statements made in this conference call, which state the company's or management's intentions, beliefs, expectations, or predictions for the future are forward-looking statements. It's 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, but are not limited to deterioration in the global economic environment, declines in oil and natural gas prices that could adversely affect demand for the company's services and their associated affect on day rates, rig utilization, and planned capital expenditures, excess availability of land drilling rigs, including result of the reactivation or construction of new land drilling rigs, adverse industry conditions, difficulty in integrating acquisitions, demand for oil and natural gas, shortages of rig equipment, and ability to retain management and field personnel.
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