Patterson-Uti Energy, Inc 401(k) Review & Grade
Patterson-Uti Energy, Inc. 401(k) Profit Sharing Plan
Snyder, TXMining, Oil & Gas7,006 active participantsPlan year 2024
Estimate from the plan's Form 5500 filing · How we grade
$1,615Employer $ per active participant
$2,914Employee $ saved per active participant
0.09%Direct admin cost, % of plan assets
$613.0MNet plan assets, end of year
$63,313Average balance per account
Score breakdown
- Employer generosity21.7 / 5043th percentile for employer $ per participant
- Low cost15.2 / 2561th percentile for low admin cost vs. same-size plans
- Employee saving4.8 / 1532th percentile for employee $ per participant
- Plan features3 / 10Default investment
- Red-flag deductions-10 pts1 issue reported on the filing
Total score35 / 100 · Grade D
This plan vs. peers
Peers: all industries, plans with 2,500–9,999 active participants (fewer than 30 industry peers) (2,386 plans).
| Measure | Percentile |
|---|---|
| Employer $ per participant | 43th |
| Lower admin cost | 61th |
| Employee saving | 32th |
| Peers that auto-enroll | 52% |
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Red flags from the filing
Benefits not paid when due: the plan reported failing to pay some benefits on time.
What to do if you're in this plan
- Patterson-Uti Energy put in about $1,615 per active participant, below the typical peer ($2,062). Any match is still an instant return, so contribute enough to get all of it.
- The filing shows total dollars, not the match formula. Ask HR for the Summary Plan Description so you know the exact match and vesting schedule.
- Fund expense ratios aren't in the filing. Look them up in your 404(a)(5) fee disclosure and favor low-cost index or target-date funds.
- Changing jobs? You can usually leave the money in the plan, move it to your new employer's plan, or roll it into an IRA. Don't cash out: you'd owe taxes and possibly a 10% penalty.
The raw numbers from the filing
| Employer contributions | $11,316,862 |
| Participant (employee) contributions | $20,413,654 |
| Other contributions (incl. rollovers in) | $1,650,925 |
| Administrative expenses paid from the plan | $392,198 |
| Contract administrator fees | $3,300 |
| Investment advisory & management fees | $152,340 |
| Benefits paid out | $31,245,268 |
| Net assets, start / end of year | $265.9M / $613.0M |
| Active participants, start / end of year | 5,714 / 8,297 |
| Participants with account balances | 9,682 |
| Auto-enrollment (feature code 2S) | Not reported |
| Auditor | Weaver and Tidwell, L.L.P. |
Largest service providers (Schedule C)
| Fidelity Investments Institutional | $239,858 reported compensation |
| Strategic Advisors, Inc. | $139,840 reported compensation |
| Prime Capital Investment Advisor, L | $12,500 reported compensation |
Source: DOL EFAST2 Form 5500 filing, acknowledgment ID 20251015131147NAL0002345507001, received 2025-10-15, EIN 75-2504748, plan #001, plan year 2024-01-01 to 2024-12-31. Verify at efast.dol.gov.