Helmerich & Payne(NYSE) HP

Helmerich & Payne helps energy companies drill for oil and gas. Their high-tech rigs make finding fuel safer and cheaper. They work on land and at sea across the globe.

Rigs, Ropes, and Resources

• North America Solutions: Land-based drilling services across 13 U.S. states using specialized rigs; accounted for $562.9 million in revenue for the three months ended June 30, 2026.
• International Solutions: Drilling operations in the Middle East and Latin America; accounted for $250.1 million in revenue for the three months ended June 30, 2026.
• Offshore Solutions: Platform rig services and management contracts in the Gulf of Mexico; accounted for $174.4 million in revenue for the three months ended June 30, 2026.
• Drilling Technologies: Software and automation tools designed to improve wellbore accuracy and drilling efficiency for exploration and production companies.

Building a Global Footprint

• Completed the acquisition of KCA Deutag International Limited on Jan. 16, 2025, to significantly expand operations in the Middle East and Latin America.
• Increased total contract drilling backlog to $9.1 billion as of June 30, 2026, driven by long-term maintenance and operations contract extensions.
• Finalized the sale of the Utica Square shopping center in Tulsa, Oklahoma, for net proceeds of $127.7 million during the three months ended June 30, 2026.
• Reactivated five drilling rigs in Saudi Arabia during the nine months ended June 30, 2026, bringing the total count to 22 active rigs in that region.

What Makes H&P Different?

Helmerich & Payne operates a global fleet of 333 drilling rigs and focuses on integrating data-driven software to automate the drilling process. This technology-centered approach is designed to make hydrocarbon recovery more economical and safer for global exploration and production companies.

A Look at the Numbers

• Consolidated operating revenues were $1.0 billion for the three months ended June 30, 2026, which was flat compared to the three months ended June 30, 2025.
• Net income reached $75.7 million for the three months ended June 30, 2026, compared to a net loss of $162.8 million for the same period in 2025.
• Cash flows provided by operating activities were $372.7 million for the nine months ended June 30, 2026.
• Total contract drilling backlog rose to $9.1 billion as of June 30, 2026, up from $7.0 billion as of Sept. 30, 2025.
• Net working capital, defined as current assets minus current liabilities, was $770.0 million as of June 30, 2026.

Evolution of the Business

Helmerich & Payne has evolved from a primarily domestic driller into a global provider of technology-driven drilling solutions. Its recent international acquisitions and focus on high-specification rig automation support its role as a key partner for energy producers worldwide.