Welcome to our dedicated page for Helmerich news (Ticker: HP), a resource for investors and traders seeking the latest updates and insights on Helmerich stock.
Helmerich & Payne, Inc. (NYSE: HP) is a drilling contractor focused on performance-driven drilling solutions and technologies for oil and gas wells. Founded in 1920 and active in the drilling oil and gas wells industry, the company regularly issues news updates that reflect its operational, financial and strategic activities across North America, international markets and offshore environments.
This news page aggregates announcements such as quarterly and annual earnings results, operating highlights for the North America Solutions, International Solutions and Offshore Solutions segments, and guidance related to rig counts, capital expenditures and margins. Investors can follow updates on topics like rig deployments and reactivations, including notices to recommence operations on land rigs in regions such as Saudi Arabia, as well as commentary on the integration of acquired operations like KCA Deutag.
Company news also covers leadership and governance developments. Recent releases have detailed promotions within the executive team, including the appointment of Raymond John “Trey” Adams III as President and his planned succession to Chief Executive Officer following the 2026 Annual Meeting of Stockholders, along with other senior leadership changes in land and offshore operations.
In addition, Helmerich & Payne routinely announces conference calls and webcasts to discuss fiscal results, where management may address segment performance, technology initiatives, drilling productivity, capital allocation and dividends. By following HP news, readers can track how the company manages its global rig fleet, advances drilling automation and directional drilling technologies, and responds to market conditions in the oil and gas sector.
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.
Helmerich & Payne, Inc. (NYSE:HP) announced the appointment of Belgacem Chariag to its Board of Directors, expanding it to 12 members. Chariag brings extensive experience from his roles as Chairman, President, and CEO of PQ Group Holdings, and previous leadership positions at Baker Hughes and Schlumberger. Chairman Hans Helmerich highlighted Chariag's valuable perspective on oil field services and energy markets, aiming to enhance the company's strategic direction amidst a changing industry landscape.
Helmerich & Payne reported a net loss of $56 million, or $(0.52) per diluted share, for Q3 2021, reflecting improved revenues of $332 million compared to a $121 million loss on $296 million in Q2 2021. Operating cash flow declined to $31 million, down from $78 million in the prior quarter. The North America Solutions segment saw reduced operating losses and improved gross margins due to higher rig activity. The company anticipates increased activity and pricing in Q4 2021, alongside strategic investments in geothermal energy and cost-saving measures projected to yield $7 million annually.
Helmerich & Payne, Inc. (NYSE: HP) will host a conference call to discuss its fiscal third quarter 2021 earnings on July 29, 2021, at 11:00 a.m. EDT. The call will feature CEO John Lindsay, CFO Mark Smith, and VP of Investor Relations Dave Wilson. Participants can join via phone or audio webcast, accessible through the company's website. This event will address financial results and other material developments. Archived access will be available for 365 days following the call.
Helmerich & Payne, listed on NYSE as HP, has announced participation in several investor conferences in June 2021. Key executives, including CEO John Lindsay and CFO Mark Smith, will represent the company. The conferences include the Wells Fargo Energy Conference on June 3, RBC Capital Markets Global Energy Conference on June 8, TPH Hotter ’N Hell Conference on June 10, and the J.P. Morgan Energy Conference on June 22-23. Investor slides will be available for download on the company's website from June 1, 2021.
Helmerich & Payne reported a net loss of $121 million, or $(1.13) per diluted share, for Q2 FY2021, against revenues of $296 million. This compares to a net loss of $70 million in Q1 FY2021 on revenues of $246 million. Despite the losses, the company highlighted improved cash flow from operations, totaling $78 million. H&P's strategic focus includes leveraging technology to enhance drilling operations and maintaining financial discipline in capital spending. The company finished the quarter with $562 million in cash and a debt-to-cap ratio of 14%.