PTEN rig count

dan_s · Post by **dan_s** » Tue May 03, 2011 10:38 am

Patterson-UTI reports that for the month of April 2011, co had an avg of 201 drilling rigs operating, including 197 rigs in the United States and 4 rigs in Canada (PTEN).

This is the annual dip cause by Spring Break-up in Canada.

PTEN's active rig count starts going up again in June and it should be up to over 230 active rigs by year-end. They have 25 new APEX rigs coming to the market this year. 18 of them already have long-term contracts in place. These rigs are perfect for the shale plays and they are high demand.