The increasing demand for oil and gas rigs is forecast to climb faster than Helmerich & Payne Inc. (H&P) can accommodate, “meaning we will have to reactivate more long-idled rigs to satisfy demand,” CEO John Lindsay said Thursday.

Helmerich

Lindsay and his management team shared a microphone to discuss the fiscal 4Q2021 results and their forecast for drilling activity in 2022. 

“As we head toward 2022, we expect that the demand for H&P’s drilling solutions will continue to improve, and capital discipline, along with the help of strong commodity prices, will strengthen the industry,” Lindsay said. “I am confident we are well positioned to deliver value in this environment.”

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