Helmerich & Payne (stock ticker: HP) reported its Q4 & fiscal year end Results yesterday and held its earnings call today.

President & CEO John Lindsay and CFO Mark Smith made comments regarding the merits of super-spec rigs, and rig counts going into the 2020 fiscal year.

Lindsay said both subsidiaries are “growing activity as the industry continues to drill longer laterals on multi-well pads, with tighter well spacing on those pads. These trends are compelling more operators to acknowledge the benefits of adopting these technologies, and we believe demand is close to reaching a tipping point.”

The company exited the fourth fiscal quarter with 232 contracted rigs and had an increase of approximately 4% in a number of a...

Legal Notice