Tulsa-based drilling expert Helmerich & Payne (H&P) is getting more bang for its buck, as North American pricing improves for the super-spec FlexRig fleet.

CEO John Lindsay and CFO Mark Smith led a recent conference call to discuss fiscal 3Q2022 results with analysts. 

In the North American Solutions segment, efforts earlier this year to “achieve more sustainable contract economics continue and will accumulate further as pricing improves” for the high-tech FlexRigs, Lindsay said. “Our scale and technology enhance profitability in the U.S., and these advantages are also providing a pathway to grow internationally, both of which will ultimately lead to improved economic returns for all our stakeholders over time.”

More Revenue Per Rig

As expected, H&P ended June with...