Helmerich Stock Price, News & Analysis

ADNOC Drilling and Helmerich & Payne have finalized the Rig Enablement Framework Agreement, enhancing operational performance and efficiency across ADNOC Drilling's land rig fleet. This partnership aims to streamline operations, reduce costs, and support ADNOC's ambitious growth plans. The agreement builds on previous collaborations and is expected to yield significant operational savings. H&P's commitment includes a $100 million cornerstone investment in ADNOC's IPO, which raised over $1.1 billion, reflecting strong investor confidence.

Helmerich & Payne reported a net loss of $79 million or $(0.74) per diluted share for Q4 FY2021, compared to a net loss of $56 million in the previous quarter. Revenues rose by $12 million to $344 million, while expenses increased by $18 million to $224 million. The North America Solutions segment showed a 5% increase in active rigs, totaling 127, with expectations to reach 152-157 rigs in Q1 FY2022. Additionally, the company executed an $86.5 million sale of eight rigs to ADNOC Drilling and a $100 million investment in their IPO. A quarterly cash dividend of $0.25 is declared.

Helmerich & Payne, Inc. (NYSE: HP) announced a conference call on November 18, 2021, at 11:00 a.m. ET to discuss its fiscal fourth quarter 2021 earnings. CEO John Lindsay, CFO Mark Smith, and VP of Investor Relations Dave Wilson will participate. Investors can access the call via phone or audio webcast. For those unable to attend, the call will be archived on the company’s website for 365 days. Helmerich & Payne, founded in 1920, is committed to delivering industry-leading drilling productivity and reliability.

Helmerich & Payne, Inc. (NYSE:HP) has completed a private offering of $550 million in 2.900% senior notes due 2031. This strategic move is aimed at extending debt maturity at a lower interest rate, leveraging the company's strong financial profile amidst a low-rate environment. The funds will be used to redeem $487.1 million of 4.65% Senior Notes due 2025. CEO John Lindsay emphasized that the offering positions H&P to grow its domestic market share and expand internationally while utilizing advanced technologies.

Helmerich & Payne, Inc. (NYSE:HP) has priced a private offering of $550 million in 2.900% senior notes due 2031, expanding from an initially planned $500 million. The proceeds will be used to redeem the outstanding $487.1 million of its 4.65% Senior Notes due 2025. The offering is set to close on September 29, 2021, subject to customary conditions. The Notes are not registered under the Securities Act, limiting their sale to qualified institutional buyers and certain non-U.S. persons.

Helmerich & Payne, Inc. (NYSE:HP) has initiated a private offering of $500 million in senior notes due 2031, targeted at qualified institutional buyers in the U.S. and certain non-U.S. persons. The proceeds will be used to redeem all outstanding 4.65% Senior Notes due 2025, totaling $487.1 million. The offering isn't contingent on this redemption. Notably, the notes are unregistered and can't be sold in the U.S. without proper registration or exemptions.

Helmerich & Payne (NYSE: HP) has entered a strategic alliance with ADNOC Drilling, involving the acquisition of eight FlexRig® land rigs for $86.5 million. Additionally, HP will invest $100 million into ADNOC Drilling's Initial Public Offering (IPO). This partnership aims to boost ADNOC's production capacity to 5 million barrels per day by 2030, enhancing operational efficiency and drilling performance. HP's investment reflects confidence in ADNOC's energy assets and prospects, as both companies commit to long-term growth in the region.

Helmerich & Payne, Inc. (NYSE: HP) announced participation in investor conferences in September 2021. John Lindsay, CEO, will engage in a virtual chat at the Barclays CEO Energy-Power Conference on September 10 at 9:45 a.m. Eastern Time. The company will also be present at the NYSE Energy & Utilities Access Day on September 16. Investor slides for these conferences will be available for download on the company’s website starting September 9, 2021. Founded in 1920, Helmerich & Payne specializes in high-performance drilling and advanced technology solutions.