The headwinds resulting from low natural gas and oil prices have driven Helmerich & Payne Inc. (H&P) toward opportunities to showcase the capabilities of the high-tech rig fleet and drilling solutions, according to CEO John Lindsay. The energy industry faces challenges nearly every year, but as the market zigs and zags, there are other ways…
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Helmerich & Payne Sees Strong Rig Demand in North America, Growing International Business
With oil and natural gas development rising, Tulsa-based driller Helmerich & Payne Inc. (H&P) is on course to achieve the best economic returns in eight years, CEO John Lindsay said recently. “We are beginning to recognize economic returns at levels that we have not experienced since 2014,” Lindsay said during the fiscal fourth quarter quarter…
Helmerich & Payne Looking to Performance-Based Rig Contracts as Covid-19 Assaults Activity
Tulsa-based Helmerich & Payne Inc. (H&P), which fabricates and operates a fleet of high-performance drilling rigs around the world, is aligning operations toward performance-based commercial models rather than the industry standard dayrates to build customer support, CEO John Lindsay said Wednesday. What historically were separate U.S. Land Operations and HP Technologies business segments have been…
H&P Cuts Capex, Slows Super-Spec Upgrades on Uncertain Commodity Prices
Super-spec rig specialist Helmerich & Payne Inc. has reduced its capital spending by 20% and cut back upgrades to the flagship systems because customers are concerned about where oil prices are headed, management said Wednesday.