Helmerich & Payne, Inc. engages in contract drilling of oil and gas wells. Segments The company’s contract drilling business includes three segments: U.S. Land, Offshore, and International Land. During the year ended September 30, 2015, the U.S. Land segment’s operations drilled primarily in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Ohio, Utah, New Mexico, Montana, North Dakota, West Virginia, and Nevada. During the year ended September 30, 2015, the Offshore segment’s operations were conducted in the Gulf of Mexico and Equatorial Guinea. The company’s International Land segment conducted drilling operations in six international locations, such as Ecuador, Colombia, Argentina, Bahrain, the United Arab Emirates, and Mozambique during the year ended September 30, 2015. The company also engages in the ownership, development and operation of commercial real estate; and the research and development of rotary steerable technology. Each of the businesses operates independently of the others through wholly-owned subsidiaries. The company’s real estate investments located within Tulsa, Oklahoma, include a shopping center containing approximately 441,000 leasable square feet, multi-tenant industrial warehouse properties containing approximately 1 million leasable square feet and approximately 210 acres of undeveloped real estate. The company’s subsidiary, TerraVici Drilling Solutions, Inc. (TerraVici), continues to develop patented rotary steerable technology to improve horizontal and directional drilling operations. TerraVici complements the company’s existing drilling rig technology and allows it to offer directional drilling services to customers. Contract Drilling The company is the major land and offshore platform drilling contractor in the western hemisphere. Operating principally in North and South America, the company specializes in shallow to deep drilling in oil and gas producing basins of the United States and in drilling for oil and gas in international locations. In the United States, the company draws its customers primarily from the major oil companies and the larger independent oil companies. In South America, the company’s customers include major international and national oil companies. BHP Billiton (BHP), Occidental Oil and Gas Corporation (Oxy), and EOG Resources (EOG), including their affiliates, are the company’s three major contract drilling customers. The company performs drilling services for BHP in the U.S. land operations, Oxy on a worldwide basis, and EOG in the U.S. land operations. Rigs, Equipment, R&D, Facilities, and Environmental Compliance: The company provides drilling rigs, equipment, personnel and camps on a contract basis. Drilling Contracts: As of September 30, 2015, the company had 137 existing rigs under fixed-term contracts. U.S. Land Drilling: As of September 30, 2015, the company had 343 of its land rigs available for work in the United States. Offshore Drilling: As of September 30, 2015, the company had eight of its nine offshore platform rigs under contract and continued to work under management contracts for four customer-owned rigs. International Land Drilling As of September 30, 2015, the company had 19 rigs in Argentina; 8 rigs in Colombia; 6 rigs in Ecuador; and 3 rigs in Bahrain and 2 rigs in the United Arab Emirates. Competition In the United States, the company competes with Nabors Industries Ltd. and Patterson-UTI Energy, Inc. History Helmerich & Payne, Inc. was founded in 1920. The company was incorporated under the laws of the state of Delaware in 1940.
helmerich & payne (HPC:Frankfurt)
1437 South Boulder Avenue
Tulsa, OK 74119
|Noble Corp plc||$8.51 USD||+0.36|
|Oceaneering International Inc||$29.80 USD||-0.03|
|Patterson-UTI Energy Inc||$13.74 USD||-0.41|
|Rowan Cos Plc||$13.15 USD||+0.37|
|View Industry Companies|
Sponsored Financial Commentaries
To contact HELMERICH & PAYNE, please visit www.hpinc.com. Company data is provided by Capital IQ. Please use this form to report any data issues.