US Shale Drilling Stocks Surge Amid Oil Price Fluctuations, Market Cap Increases by 350 Billion Won in One Day

Patterson-UTI Energy (PTEN), a U.S. shale drilling services firm, surged 6.16% on the Nasdaq on the 19th local time, closing at $10 and adding roughly $250 million (₩350 billion) to its market capitalization in a single day. Trading volume reached 5.51 million shares—above its recent average—bringing its market value to about $3.8 billion (₩5.3 trillion).

Goldman Sachs recently reaffirmed its rating on PTEN and raised its price target to $11, indicating further upside potential from current levels.

In its fourth-quarter 2025 results announced in February, Patterson-UTI posted a loss but beat revenue estimates. Coupled with an expanded dividend and improved free cash flow, these factors have supported a gradual recovery in the share price since the beginning of the year.

Patterson-UTI Energy provides onshore drilling rigs, hydraulic fracturing, and directional drilling services in the U.S. and select international markets, with revenues and earnings closely tied to shale development investments and oil price trends.

Headquartered in Houston, Texas, the mid-sized company operates more than 90 rigs across the U.S. and is regarded as one of the primary beneficiaries when domestic exploration and production firms increase capital spending.