Helmerich & Payne Inc.
About
Since 1920, Helmerich and Payne Inc. (H&P) has been the industry’s most trusted partner in U.S. land, international and offshore drilling productivity and reliability. The company operates through several subsidiaries:
• H&P, IDC, our international drilling operations.
• MOTIVE® Drilling Technologies, Inc., our bit guidance solution to drill higher quality wellbores using a scalable, repeatable, data-driven platform approach.
• Magnetic Variation Services, LLC (MagVAR), our solution that reduces surveying uncertainty 50% to 60% and increases horizontal well economics while reducing risk.
• TerraVici Drilling Solutions, Inc., our rotary steering systems solution.
A long-standing commitment to safety and risk reduction reinforces the importance we place on people and value creation. Customers have ranked H&P 1st in the industry 10 years in a row because we offer the best drilling design, fabrication and operational performance packages. By leveraging a strategic blend of our outstanding talent, automation technology, data solutions and growth opportunities, we are poised to continue paving the way in industry innovation well into the future.
Transactions
Helmerich & Payne Acquires Drilling Software Provider DrillScan
Helmerich & Payne Acquires Drilling Software Provider DrillScan
H&P's Acquisition Of MagVAR To Bring Shale Drilling Accuracy To New Level
H&P's Acquisition Of MagVAR To Bring Shale Drilling Accuracy To New Level
Helmerich & Payne’s $100 Million Upgrade: Thinking Drills
Helmerich & Payne’s $100 Million Upgrade: Thinking Drills
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New Financings
Completed a private offering of 2.900% senior notes due 2031. Proceeds will be used, plus cash on hand,…
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News
The US Shale Rig Count is Not Falling, Data Show
The net change in the U.S. horizontal rig count is seven rigs—1% —fewer than at year-end 2024, a Hart Energy analysis shows. Instead, the sub-$70 oil price has displaced rigs targeting non-shale targets.
Tamboran Beetaloo Flow Test Shows Properties Similar to Marcellus
Tamboran Resources’ sidetrack in the Beetaloo Basin IP’ed an average of 7.2 MMcf/d over 30 days from a roughly 1-mile lateral, an IP rate similar to the average IP-30 of Marcellus dry-gas wells.
M&A Target BPX Boasts Long-Term Eagle Ford Plans
BP’s onshore U.S. shale subsidiary is under the M&A magnifying glass as it boasts ‘great returns’ in fields in South Texas.
US E&Ps Could Drop Up to 100 Rigs at New Low Oil Price
Private operators are likely to let rigs go first, beginning in the Midcontinent and Powder River Basin, then the Eagle Ford, Bakken and Permian, according to J.P. Morgan Securities.
Oil & Gas, Geothermal Technology Transfer Not a One-Way Street
Technologies commonly used in oil and gas are making it cheaper to drill deep into hot reservoirs to generate geothermal power, but the oil sector could also learn from geothermal, panelists say.
E&P Highlights: Jan. 21, 2025
Here’s a roundup of the latest E&P headlines, with Flowserve getting a contract from ADNOC and a couple of offshore oil and gas discoveries.
Helmerich & Payne Seals $1.97B Deal for KCA Deutag
Helmerich & Payne has completed its acquisition of KCA Deutag International Ltd. as it positions itself as a global onshore drilling powerhouse.
Falcon, Tamboran Spud Second Well in Australia’s Beetaloo
Falcon Oil & Gas Ltd., with joint venture partner Tamboran, have spud a second well in the Shenandoah South Pilot Project in the Beetaloo.
Go Long: Exxon, EOG Extend Permian Laterals, Lead US Onshore Drilling
When it comes to drilling in U.S. onshore basins, no other operators are drilling more than Exxon Mobil and EOG Resources, according to Enverus data.
Australian Shale Wildcatter Tamboran Spuds First 2-Well Beetaloo Pad
Tamboran investor Helmerich & Payne is drilling the 2-mile laterals, while fellow investor Liberty Energy has a frac fleet en route to complete the wells, Tamboran Resources reported.
Amid Flagging US Activity, OFS Sector Looks to 2025—and Overseas
Despite a slowdown in U.S. activity expected to last until 2025, overseas and offshore markets helped the oilfield services sector deliver solid second-quarter results.
OFS Consolidation Continues with Flowserve to Buy MOGAS
Flowserve will purchase MOGAS Industries for at least $290 million, part of a number of oilfield service company acquisitions announced in 2024.
As Oil Production Scales the Heights, Texas E&P Jobs Disappear —TXOGA
As operational efficiencies give E&Ps the ability to produce more oil with fewer rigs, Texas employment in the oil patch has fallen five out of the first six months of 2024.
Helmerich & Payne Announces New CFO J. Kevin Vann
H&P’s current CFO Mark W. Smith is set to retire Aug. 15.
Wood Mackenzie: OFS Costs Expected to Decline 10% in 2024
As service companies anticipate a slowdown in Lower 48 activity, analysts at Wood Mackenzie say efficiency gains, not price reductions, will drive down well costs and equipment demand.