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Helmerich & Payne, Inc. - HP STOCK NEWS

Welcome to our dedicated page for Helmerich & Payne news (Ticker: HP), a resource for investors and traders seeking the latest updates and insights on Helmerich & Payne stock.

Helmerich & Payne, Inc. (symbol: HP) is a preeminent global drilling contractor, distinguished by its extensive operations across the U.S., Latin America, the Middle East, Africa, and the Gulf of Mexico. H&P is a trailblazer in drilling technology, notably exemplified by its proprietary AC FlexRig® technology. Possessing the largest fleet of AC drive drilling rigs globally, H&P is at the forefront of the U.S. unconventional drilling sector.

Founded nearly a century ago, Helmerich & Payne has maintained its status as a top industry performer through unwavering commitment to innovation and service. The company’s FlexRig® line is hailed for its efficiency in drilling horizontal wells, which are essential for the production of U.S. tight oil and gas. This technological edge has cemented H&P's presence in nearly every major U.S. shale play, while also expanding its reach in international markets.

Financially robust, H&P continues to expand and enhance its capabilities. Noteworthy recent achievements include advancements in drilling automation and strategic partnerships aimed at optimizing operational efficiency. The company remains dedicated to driving progress within the industry, consistently delivering top-tier drilling solutions to its clients.

For those interested in joining H&P's dynamic team, the company offers numerous opportunities in rig-based or field positions. Prospective applicants can explore current openings at H&P Careers.

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Helmerich & Payne (NYSE: HP) has announced a definitive agreement to acquire KCA Deutag for $1.9725 billion in cash. This transformative transaction establishes H&P as a global leader in onshore drilling, significantly expanding its presence in the Middle East. Key highlights include:

- Increases H&P's Middle East rig count from 12 to 88
- Immediately accretive to cash flow and free cash flow per share
- Adds complementary offshore management contract business and manufacturing operations
- Expected to maintain investment grade credit rating
- Anticipates ~$25 million in run-rate synergies by 2026

The acquisition enhances H&P's scale and diversification, positioning it as one of the largest rig providers in the Middle East market. The transaction is expected to close before the end of 2024, subject to customary conditions and regulatory approvals.

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Helmerich & Payne (NYSE: HP) reported fiscal Q3 2024 net income of $89 million, or $0.88 per diluted share, from operating revenues of $698 million. The North America Solutions (NAS) segment exited Q3 with 146 active rigs and recognized revenue per day of $39,800 with direct margins of $20,300/day. NAS operating income increased $16 million sequentially, while direct margins rose by $6 million to $277 million. H&P anticipates exiting Q4 FY2024 with 147-153 active rigs. The company declared a quarterly base cash dividend of $0.25 per share and a supplemental cash dividend of $0.17 per share, both payable on August 30, 2024. H&P's first super-spec FlexRig® arrived in Saudi Arabia, marking progress in expanding its international presence.

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Helmerich & Payne (NYSE: HP) has announced a conference call and webcast for its fiscal third quarter 2024 earnings release. The event is scheduled for Thursday, July 25, 2024, at 11:00 a.m. ET. Key executives including John Lindsay (President and CEO), Mark Smith (Senior VP and CFO), and Dave Wilson (VP of Investor Relations) will participate. Investors can join via phone or internet, and the webcast will be archived for one year on the company's website.

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Helmerich & Payne (NYSE: HP) announced that key executives, including CEO John Lindsay, CFO Mark Smith, and VP of Investor Relations Dave Wilson, will participate in the J.P. Morgan 2024 Energy, Power and Renewables Conference in New York City on June 17-18, 2024.

John Lindsay will discuss the company's perspectives on June 17 at 4:05 p.m. ET. Investor slides will be available on the company's website the day before the conference.

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Helmerich & Payne, Inc. reported fiscal second quarter net income of $85 million, or $0.84 per diluted share, with revenue per day averaging $38,200 in the North America Solutions segment. Quarterly operating income increased by $3 million, with $46 million returned to shareholders. The Company declared a quarterly base cash dividend of $0.25 per share and a supplemental cash dividend of $0.17 per share. Expectations for the third quarter include lower rig counts in North America and increased operational expenses for international operations.
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Helmerich & Payne, Inc. (HP) will hold a conference call to discuss its second quarter 2024 earnings on April 25, 2024. The call will feature key executives and cover material developments. Investors can participate via phone or webcast.
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Helmerich & Payne, Inc. (NYSE: HP) executives to participate in key investor conferences in March 2024, including the Piper Sandler 24th Annual Energy Conference and NYSE Energy & Utilities Virtual Investor Access Day. Investor slides accessible on the company's website.
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Helmerich & Payne, Inc. (NYSE: HP) announced the retirement of CFO Mark W. Smith in August 2024. The company has initiated a search for his successor. Smith will continue in his role until then and serve as a senior advisor until December 2024. CEO John Lindsay praised Smith's contributions and leadership during challenging times. Smith expressed gratitude for his time at H&P and confidence in the company's future.
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Helmerich & Payne, Inc. (NYSE: HP) executives to participate in the 2024 THRIVE Energy Conference by Daniel Energy Partners. The company will present investor slides and Mr. Lindsay will join a panel discussion on February 21, 2024.
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Helmerich & Payne, Inc. (HP) announces finalization of contractual terms with Saudi Aramco for a 7-rig tender award. The super-spec rigs will be sourced from H&P's idle FlexRigs® in the U.S., converted to walking configurations, and equipped for Saudi Aramco's unconventional gas drilling. The total capex for these rigs is estimated at $175 to $196 million, with expected contributions of over $25 million to the Company's International Solutions segment direct margin annually.
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FAQ

What does Helmerich & Payne, Inc. do?

Helmerich & Payne, Inc. is a leading global drilling contractor specializing in land-based drilling rigs, particularly for unconventional oil and gas wells.

Where does H&P operate?

H&P operates in the U.S., Latin America, the Middle East, Africa, and the Gulf of Mexico.

What is AC FlexRig® technology?

AC FlexRig® is H&P's proprietary drilling technology known for its efficiency in drilling horizontal wells, crucial for producing tight oil and gas.

How long has H&P been in the drilling industry?

Helmerich & Payne has been an industry leader for nearly 95 years.

What makes H&P a top performer in the industry?

H&P is renowned for its innovation, extensive fleet of AC drive drilling rigs, and commitment to exceptional service.

Is H&P involved in any international projects?

Yes, H&P is expanding its presence internationally with ongoing projects in multiple regions.

How can I apply for a job at H&P?

You can apply for rig-based or field positions by visiting their careers page: http://www.hpinc.com/careers/job-postings/drilling-field-operations.

What are H&P's recent achievements?

Recent achievements include advancements in drilling automation and strategic partnerships to enhance operational efficiency.

What is H&P's role in the U.S. shale plays?

H&P has a significant presence in nearly every major U.S. shale play, providing cutting-edge drilling solutions.

How does H&P contribute to the industry?

H&P contributes through continuous innovation, maintaining the largest fleet of AC drive rigs, and delivering high-quality drilling services.

Helmerich & Payne, Inc.

NYSE:HP

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3.73B
98.73M
3.35%
106.86%
10.98%
Drilling Oil and Gas Wells
Mining, Quarrying, and Oil and Gas Extraction
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