Message from Our Chief Executive Officer
I am pleased to share with you Patterson-UTI’s 2021 sustainability report. While industry conditions improved in 2021 compared to 2020, we continued to navigate the impact of the COVID-19 pandemic on our business, our employees and the communities where we operate. We are proud of our people and their resiliency and performance throughout the year.
We were pleased to announce the acquisition of Pioneer Energy Services, a transaction that was completed on October 1, 2021. Through this acquisition, we acquired additional drilling rigs that are capable of substituting cleaner-burning natural gas for diesel, which helps reduce emissions in our operations. This increased our overall ability to offer our customers equipment and technology that utilizes alternative power sources. The acquisition also expanded our geographic footprint into the international markets, specifically Colombia.
At Patterson-UTI, our corporate culture is built on our core values, and we are proud to conduct our business in line with those values.
- Safety and Environment: The safety of our employees and the protection of our environment is a cornerstone, and we are committed to providing a safe, incident-free work environment for all.
- Operational Excellence: We deliver high-quality, value-added services and focus on innovative solutions in all aspects of our work.
- Honesty and Integrity: We will act with honesty and integrity in everything we do.
- Diversity, Inclusion and Respect: We are committed to workplace diversity and to fostering a culture of inclusion and respect.
- Development of our People: We are committed to the growth and development of every employee.
- Profitable Business: We are committed to delivering superior returns.
Consistent with these core values, we are committed to effective environmental, social and governance (ESG) management for the long-term benefit of our shareholders, employees and communities.
As part of this commitment to ESG management, we aim to minimize our environmental impact in the communities in which we work and live, while providing services for our customers in a safe and responsible manner. We invest extensively in the safety, health and well-being of our people, who are our most important asset and our greatest strength. Workplace diversity is important to us, and we value a respectful and supportive culture for our employees. We maintain a rigorous focus on ethics and integrity at every level of our operations, a practice on which all of our success depends.
Our employees and our company have taken significant steps to positively impact ESG issues, while delivering value to our customers. I am proud of the initiatives we have pursued, and I hope that this year’s sustainability report helps to highlight some of these efforts. We welcome your feedback.
President & Chief Executive Officer