Helmerich & Payne

Helmerich & Payne Looking to Performance-Based Rig Contracts as Covid-19 Assaults Activity

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…

July 29, 2020
H&P Cuts Capex, Slows Super-Spec Upgrades on Uncertain Commodity Prices

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.

January 30, 2019