Patterson-UTI Releases Rig Count; Chevron’s YPF Deal Problematic: Energy Business Report
Patterson-UTI Energy (NASDAQ:PTEN) reported in a Tuesday press release that for November, it kept an average of 206 drilling rigs operating, among which included 198 rigs in the United States and 8 rigs in Canada. For the two months ended November 30th, the firm had an average of 206 drilling rigs operating, with 199 rigs in the United States and 7 rigs in Canada.
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Chevron Corporation’s (NYSE:CVX) recent preliminary deal with YPF (NYSE:YPF) could bring the firm legal troubles, as Repsol (REPYF.PK)(REPYY.PK) has filed a suit at the World Bank’s arbitration tribunal seeking $10.5 billion from Argentina for its nationalization of 51 percent of YPF, says The Financial Times. Repsol has also promised legal action against any firms partnering with YPF through which to develop what it considers its assets.
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