Drilling expert Helmerich & Payne Inc. (H&P) expects to fetch higher prices for its services in the months ahead, as exploration and production customers call for more equipment bundled with high-tech solutions, CEO John Lindsay said.

Lindsay helmed the recent conference call to discuss results in the final three months of 2021, which was H&P’s fiscal first quarter (1Q2022). The Tulsa oilfield services (OFS) operator designs, fabricates and operates super-specification (super-spec) rigs under the FlexRig banner. At the end of 2021 the fleet included 236 U.S. land rigs, 28 international land rigs and seven offshore platform rigs that mostly work in the Gulf of Mexico.

“Rig activity continues to increase, with much stronger oil and gas prices resulting in our customers’ 2022...