Energy Prospectus

6:21AM Patterson-UTI misses by $0.07, reports revs in-line (PTEN) 19.05 : Reports Q4 (Dec) earnings of $0.56 per share, $0.07 worse than the Capital IQ Consensus Estimate of $0.63; revenues rose 43.2% year/year to $724.6 mln vs the $728.3 mln consensus. "Activity in our drilling business continued to increase in the fourth quarter, as our average number of rigs operating increased to 232, including 220 in the United States and 12 in Canada. This compares to an average of 221 rigs operating in the third quarter of 2011, including 209 in the United States and 12 in Canada...We have continued to increase our contract coverage and currently have long-term contracts providing for approximately $1.8 billion of dayrate drilling revenue for 2012 and beyond"

complete report here---

http://finance.yahoo.com/news/Patterson ... 2.html?x=0

Over the next two days I will be updating the forecasts for EXXI, HP and PTEN.