Monthly eNewsletter from the IADC

Patterson-UTI CEO Hendricks Named 2021 IADC Contractor of the Year

Andy Hendricks, President and CEO of Patterson-UTI, was named the 2021 IADC Contractor of the Year during the IADC Annual General Meeting in Dallas on 5 November. Clay Williams, Chairman, President and CEO of NOV, presented Hendricks the award after delivering the 2021 Rig Census presentation.

About Contractor of the Year Award

The Contractor of the Year award is sponsored by National Oilwell Varco. It was established in 1988 to recognize an individual drilling contractor’s outstanding lifetime achievement in technical innovation, safety, and economic efficiency within the drilling industry. The prestigious industry award is the only one reserved exclusively for drilling contractors. All recipients of the Contractor of the Year award are nominated and selected by other drilling contractors who are IADC members.

Hendricks cited collaboration being the determining factor in getting the award:

“It’s humbling… Nobody gets an award like this without help along the way, and it’s been a team effort. We’re blessed with a great team at Patterson-UTI. We’ve accomplished a lot of things and we still have some things that we’re going to accomplish, so it’s still an exciting time for us.”

Mr Hendricks, who served as IADC Chairman in 2017, was appointed to his current position at Patterson-UTI in October 2012 after a five-month stint as the company’s COO. Prior to that, he worked for Schlumberger in a variety of leadership positions, including as President of Schlumberger Drilling and Measurements from May 2010 to March 2012. He joined Schlumberger in 1988 after working for Ocean Drilling and Exploration Company (now Diamond Offshore). He graduated with a Bachelor of Science in petroleum engineering from Texas A&M University in 1987.

Over the long term, Mr Hendricks noted the potential impact of the energy transition on drilling, saying that renewables will likely take up a larger share of the energy mix moving forward. However, he touted the industry’s ability to adapt to change, and said that oil and gas will continue to play an important part in meeting the world’s energy needs:

“I’m very proud of what we do as an industry,” he said. “We produce something that the world needs, a resource that the world still counts on to drive that energy change. It’s OK to be proud of the work that we do and the product that we produce.”