C. Smith

Executive Vice President & Chief Financial Officer, Patterson-uti

Search every verified C. Smith interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. C. Smith, Executive Vice President and Chief Financial Officer at Patterson-UTI, appeared on CNBC's Mad Money on September 17, 2017, to discuss the company's position amid falling crude oil prices. Smith stated that the company had seen 12 consecutive months of rig count increases despite soft oil prices, attributing this to producers in the Mid-Continent and Permian Basin finding ways to be economic at current levels. He described a "Goldilocks position" for onshore business when oil prices are between $45 and $55 per barrel, adding that $50 is "the new 80" for onshore operations. Regarding the pressure pumping business, Smith said margins were bottoming and expected to improve as more rigs are put to work and prices rise. He indicated that it would not surprise him if oil remained around $50 for some time, and that the company would "do just fine" if prices stayed between $45 and $55.