Helmerich & Payne, Inc. engages in contract drilling of oil and gas wells. Segments The company’s contract drilling business consists of three segments, including U.S. Land, Offshore, and International Land. The U.S. Land segment drilled primarily in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Mississippi, Pennsylvania, Ohio, Utah, New Mexico, Montana, North Dakota, West Virginia and Nevada. The Offshore segment operations were conducted in the Gulf of Mexico, and Equatorial Guinea. The International Land segment operated in seven international locations during 2014: Ecuador, Colombia, Argentina, Tunisia, Bahrain, the United Arab Emirates (UAE), and Mozambique. Operations The company also engages in the ownership, development, and operation of commercial real estate and the research and development of rotary steerable technology. The company’s real estate investments located exclusively 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. Subsidiaries The company’s subsidiary, TerraVici Drilling Solutions, Inc. (TerraVici), develops patented rotary steerable technology to enhance 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 a 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, its customers include major international oil companies. Occidental Oil and Gas Corporation, Marathon and BHP Billiton (respectively, Oxy, Marathon and BHP), including their affiliates, are the company’s three largest contract drilling customers. Revenues from drilling services performed for Oxy, Marathon and BHP in fiscal 2014 accounted for approximately 11 percent, 8 percent and 7 percent, respectively, of the company’s consolidated operating revenues for the same period. Rigs, Equipment and Facilities: The company provides drilling rigs, equipment, personnel and camps on a contract basis. Offshore Drilling: As of September 2014, the company had eight of its nine offshore platform rigs under contract and continued to work under management contracts for three customer-owned rigs. International Land Drilling U.S. Land Drilling: As of September 2014, the company had 329 of its land rigs available for work in the United States. International Land Drilling: As of September 30, 2014, the company had 14 rigs in Argentina; 8 rigs in Colombia; and 6 rigs in Ecuador. The company’s drilling contracts are primarily with large international or national oil companies. The company also had two rigs in Tunisia, three rigs in Bahrain, two rigs in the UAE and one rig in Mozambique. 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
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