The Zacks Oil and Gas - Drilling industry is contending with multiple challenges. First, the U.S. rig count has fallen year over year, slowing drilling activity and impacting service companies' operations. Second, the sector faces overcapacity and pricing pressures, with margins squeezed despite prioritizing pricing over utilization. Third, Saudi Arabia's decision to maintain its Maximum Sustainable Capacity and halt planned expansion has hurt investor sentiment, triggering a sell-off in oilfield services s ...

Shares of oil and gas drilling contractor Helmerich & Payne (HP) slipped to a 52-week low of $31.98 per share on Aug. 30, before closing a tad higher at $32.60. Year to date, Helmerich & Payne has lost almost 10% of its value, contrasting with the sector's increase of 4.9%. Meanwhile, the S&P 500 Index has risen 18.4% over the same timeframe. The company has also fared worse than its peers like Nabors Industries (NBR) and Diamond Offshore Drilling (DO) . YTD Price Comparison Image Source: Zacks Investment R ...

The conflict in the Middle East is only getting worse. After an attack on Israel last week and a subsequent attack on Lebanese leaders, both in Lebanon and Iran, tensions have definitely risen. Antony Blinken, the Secretary of State, has indicated that Iran is likely to strike back within the next 24-48 hours. While the world is on edge, instability in the region will also have a significant impact on oil. As I'm sure many of you know, the Middle East is a hub for fossil fuel extraction, with black gold bei ...

Helmerich & Payne, Inc. (HP) , a leading provider of drilling solutions, recently announced that it has entered into an agreement to acquire KCA Deutag International Limited ("KCA Deutag") for $1.9725 billion in cash. KCA Deutag is a global drilling company with a strong presence in the Middle East, South America, Europe and Africa. The company also operates offshore management contracts in the North Sea, Angola, Azerbaijan and Canada. The acquisition is expected to significantly increase HP's presence in t ...

Helmerich & Payne, Inc. (NYSE:HP) Q3 2024 Earnings and Acquisition of KCA Deutag Call July 25, 2024 11:00 AM ET Company Participants Dave Wilson – Vice President-Investor Relations John Lindsay – President and Chief Executive Officer Mark Smith – Senior Vice President and Chief Financial Officer Conference Call Participants Saurabh Pant – Bank of America Merrill Lynch Keith MacKey – RBC David Smith – Pickering Energy Partners Doug Becker – Capital One Marc Bianchi – TD Cowen Operator Good day, everyone, an ...

Innovator in Technology & Engineering Leading Drilling Technology Portfolio Focused Culture on Our People & Customers Culture of We Care and Customer-Centricity Strengthens Cash Flow Stability and Durability through a Robust Contract Backlog, Supported by a Blue-Chip Customer Base H&P of Tomorrow © 2024 Helmerich & Payne, Inc. All Rights Reserved. 16 Creating a Global Leader in Onshore Drilling Enhances Scale and Geographic Diversification, Now with Leading Positions in the U.S. and Middle East Immediately ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q HELMERICH & PAYNE, INC. (Exact name of registrant as specified in its charter) Delaware 73-0679879 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or f ...

Helmerich & Payne, Inc. (HP) reported a fiscal third-quarter 2024 adjusted net income of 92 cents per share, which beat the Zacks Consensus Estimate of 77 cents. The outperformance signifies an improvement in the company's Offshore Gulf of Mexico Segment performance. However, the bottom line was below the year-ago quarter's reported figure of $1.09. This was primarily due to the poor performance of the company's International Solutions and North America Solutions segments. Operating revenues of $697.7 milli ...

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Helmerich & Payne (HP) came out with quarterly earnings of $0.92 per share, beating the Zacks Consensus Estimate of $0.77 per share. This compares to earnings of $1.09 per share a year ago. These figures are adjusted for ...

About Helmerich & Payne, Inc. This release includes "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and such statements are based on current expectations and assumptions that are subject to risks and uncertainties. All statements other than statements of historical facts included in this release, including, without limitation, statements regarding the registrant's business strategy, future financial position, operations outlook, future c ...