Post Tagged with: "Helmerich & Payne"

Source: Houston Chronicle

Drilling Down: Top 10 drilling rig companies in Texas and their customers

Houston Chronicle Some 368 horizontal drilling rigs are in operation in Texas, and more than half of them belong to three drilling companies. In figures exclusively provided to the Houston Chronicle, the Austin oilfield data firm Enverus reports that Tulsa-based Helmerich & Payne is the top drilling rig operator in Texas with 117 horizontal rigs deployed across the state. Nabor Industries, a drilling rig operator headquartered in Bermuda with principal offices in Houston, ranks second with 42 active horizontal rigs. Calgary oilfield service company Ensign Energy Services ranks third with 33 horizontal drilling rigs deployed in Texas. Combined, the three companies account for more than half the active horizontal rigs in the nation’s busiest and largest oil fields, which include the Permian Basin of West Texas, the Eagle Ford Shale of South Texas and the Haynesville Shale of East Texas. Facing crude oil prices stuck in the mid-$50 per barrel[Read More…]

December 2, 2019 - 10:08 am Closing Bell Story, Crude Oil News, Energy News, Popular 1
H&P Reports Utilization Rates Up Despite Oil Price Drop

H&P Reports Utilization Rates Up Despite Oil Price Drop

$19 million in quarterly earnings Helmerich & Payne (stock ticker: HP) announced quarterly results today, showing earnings of $19 million, or $0.17 per share. This result exceeds the $2.5 million in earnings H&P reported in the previous quarter, and is the first time H&P recorded two consecutive quarters of net income since early 2016. Quarterly revenue was also up, as the company received $741 million this quarter compared to $697 last quarter. U.S. margins fall but utilization rates rise H&P reports it received an average of $25,265 in revenue per U.S. rig per day this quarter, compared to $24,449 last quarter. This increase in revenue was more than offset by increases in cost this quarter, and per-rig margins fell from $… Login or click here to subscribe Username or E-mail Password Remember Me     Forgot Password

Helmerich & Payne: Flex, Automation and Super-Spec Aim to Drive Working Rig Count into High-200s

Helmerich & Payne: Flex, Automation and Super-Spec Aim to Drive Working Rig Count into High-200s

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… Login or click here to subscribe

November 16, 2018 - 5:36 pm Closing Bell Story, Oilfield Services
Helmerich & Payne (HP) Plans to Upgrade More Rigs

Helmerich & Payne (HP) Plans to Upgrade More Rigs

H&P’s U.S. land market share increased from 15% to 20% from September 30, 2016 to September 30, 2017 Net loss of $23 million or ($0.21) per diluted share from operating revenues of $532 million Helmerich & Payne, Inc. (ticker: HP) President and CEO John Lindsay said, “The fourth fiscal quarter headlines were dominated by oil price uncertainty which remained range-bound in the mid $40s and set expectations for a substantial rig count reduction for the balance of 2017. “Even with that cautious outlook, H&P was able to grow its rig count and leading edge pricing. We have also seen improvement in international markets where our rig count has increased to 16-17 active rigs.” Super-spec rigs H&P began the fiscal year with 95 rigs contracted in U.S. land and will close the year with 197 rigs, an increase of 102 FlexRigs, most of which were upgraded to super-spec capacity. The total[Read More…]

Technology-Driven Drilling Service Companies who are Preemptive, Predictive Will Prevail: Helmerich & Payne

Technology-Driven Drilling Service Companies who are Preemptive, Predictive Will Prevail: Helmerich & Payne

The Days of “Show Up and Fix It” are Over: Lindsay Ninety-six year old Tulsa-based Helmerich & Payne (ticker: HP) reported its third quarter results today and on the conference call CEO John Lindsay expressed confidence that the company will be able to respond the industry demand for not just more rigs, but answer the need for much better rigs. “We believe that we are uniquely positioned to grow market share in the increasingly complex drilling environment that unconventional shale plays will require going forward,” Lindsay said. “The complexity of horizontal shale wells demands advanced technology solutions to drive high levels of performance and reliability,” Lindsay continued. “Shale customers have high expectations and well complexity is increasing as a result of extended laterals. “The industry has long held to a ‘show-up-and-fix-it’ model when dealing with rig equipment downtime. Our model is preemptive and predictive, developing systems that utilize predictive analytics, reduce non-productive time,[Read More…]