Patterson-Uti Energy Shares Higher On Pressure Pumping Divestment Update

Paterson-Uti Energy (NASDAQ:PTEN) shares are trading higher after Reuters reports the company is exploring the divestment of its press pumping unit.

Patterson-UTI Energy is an oil well drilling contractor based in Houston, Texas. In addition to contract drilling, the company also provides pressure pumping directional drilling services.

Patterson-Uti Energy shares traded up 6% at $10.92 at time of publication. The stock has a 52-week high of $19.29 and a 52-week low of $9.49.

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