Helmerich & Payne Company News

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Shale Drilling's Worst Yet to Come
Thursday, July 25, 2019 America's biggest owner of drilling rigs fell the most in seven months after the chief of Helmerich & Payne Inc. said he called the bottom too soon.

Walking Oil Rigs Spur Cheaper, Quicker Drilling in Supply Glut
Tuesday, September 01, 2015 More efficient drilling rigs that cost a third less than just a year earlier are changing the face of the US shale industry, helping boost per-rig output in the 4 largest fields by at least 40%.

Helmerich & Payne May Cut 2,000 Jobs As It Idles Rigs
Thursday, January 29, 2015 Helmerich & Payne says it may cut 2,000 jobs as it begins to idle rigs amid a slide in crude oil prices.

Helmerich & Payne Welcomes New Board Member
Tuesday, June 12, 2012 Helmerich & Payne, Inc. announced that Thomas A. Petrie was appointed to the Company's Board of Directors effective June 6, 2012.

Helmerich & Payne Optimistic on U.S. Drilling Despite Gas Prices
Tuesday, January 31, 2012 Helmerich & Payne remains bullish on the U.S. land drilling market despite weakness in U.S. natural gas prices, the company reports.

Helmerich & Payne Mourns Loss of Chairman
Tuesday, January 10, 2012 Walter H. Helmerich, III, businessman, civic leader and philanthropist, passed away peacefully on January 10, 2012.

Helmerich & Payne to Build 12 Additional FlexRigs
Wednesday, July 06, 2011 Helmerich & Payne has entered into agreements to build and operate 12 additional FlexRigs.

H&P to Build, Operate 9 Additional Rigs; Posts 2Q Results
Thursday, July 29, 2010 Helmerich & Payne has signed contracts to build and operate nine additional FlexRigs.

Helmerich & Payne to Build, Operate 7 Additional FlexRigs
Wednesday, July 07, 2010 Helmerich & Payne has entered into agreements to build and operate seven additional FlexRigs.

Venezuela to Nationalize 11 Helmerich & Payne Oil Rigs
Thursday, June 24, 2010 Helmerich & Payne commented on recent media reports that refer to Venezuelan government authorities affirming that they will seek to nationalize the Company's 11 rigs in Venezuela.

Big Oilfield Service Cos May Benefit from Exxon's XTO Buyout
Friday, December 18, 2009 ExxonMobil's move to buy one of the leading U.S. natural gas producers could provide a boost to big oilfield service companies that have been hit hard by a downturn in the North American drilling market.

Lower Costs Give Oil Drillers Breathing Room
Wednesday, May 20, 2009 A long-awaited drop in the cost of drilling and maintaining wells has finally materialized, easing the pressure on oil and natural-gas producers.

Helmerich & Payne Underscores Second Quarter Earnings
Thursday, April 30, 2009 In its Q2 earnings report, Helmerich & Payne noted that the company completed the construction of 11 FlexRigs under long-term contracts during the second fiscal quarter and two were completed in April 2009.

Venezuela Oil Workers Pressure Rig Companies As Woes Mount
Friday, February 06, 2009 Oil workers aligned with the government of President Hugo Chavez are pressuring rig companies to continue drilling, despite the state's failure to pay for those services at a time of rock-bottom oil prices.

Helmerich & Payne Post First Quarter Earnings, Has 42 Rigs Stacked
Thursday, January 29, 2009 Helmerich & Payne has reported record net income of $145,275,000 from operating revenues of $623,754,000 for its first fiscal quarter ended December 31, 2008.

H&P: Early Assessment Finds No Major Damage
Tuesday, September 16, 2008 Helmerich & Payne, says that early field reports indicate that Hurricane Ike has apparently not resulted in material damage to any of its drilling rigs or facilities.

Helmerich & Payne Snags 12 FlexRig Contracts for US
Thursday, May 29, 2008 Helmerich & Payne, Inc. announced that it has signed 12 additional long-term contracts with two exploration and production companies to operate 12 new FlexRigs in the U.S.

Helmerich & Payne Reports Net Income of $102 Million for Q1
Thursday, May 01, 2008 Helmerich & Payne, Inc. reported net income of $102,054,000 ($0.96 per diluted share) from operating revenues of $473,644,000 for its second fiscal quarter ended March 31, 2008.

Helmerich & Payne Inks 3 Long-Term Rig Contracts
Thursday, May 01, 2008 Helmerich & Payne, Inc. announced that it has signed three additional long-term contracts with three exploration and production companies to operate three new FlexRigs in the U.S.

MMS Honors Finalists in Annual SAFE Competition
Thursday, March 27, 2008 Only the best of the best become national finalists in the much-anticipated Safety Awards for Excellence (SAFE) annual competition sponsored by the Minerals Management Service.

Helmerich & Payne Confirms FlexRig Commitments
Thursday, March 06, 2008 Five of the seven new rigs are committed to operate under five-year term contracts and the remaining two under three-year term contracts.

Helmerich & Payne Reveals New-Build Orders and Q1 Earnings
Thursday, January 31, 2008 Helmerich & Payne, Inc. reported net income of $107,830,000 ($1.02 per diluted share) from operating revenues of $456,663,000 for its first fiscal quarter ended December 31, 2007.

New Year, New Builds: Helmerich & Payne to Construct 11 New FlexRigs
Thursday, January 31, 2008 Helmerich & Payne, Inc. has plans to construct eleven additional FlexRigs to operate under long-term contracts for three exploration and production companies.

Helmerich & Payne Sees Record Results in Third Quarter
Thursday, November 15, 2007 Helmerich & Payne reported record net income of $449,261,000 from operating revenues of $1,629,658,000 for its fiscal year ended September 30, 2007.

Helmerich & Payne Sees Jump in Net Income
Wednesday, August 01, 2007 Helmerich & Payne reported a net income of $115,204,000 from operating revenues of $421,274,000 for its third fiscal quarter ended June 30, 2007.

Analysts See Slow Recovery for US Drillers; 2008 is Looking Up
Thursday, May 17, 2007 Even self-proclaimed optimists say they aren't quite ready to predict a recovery in North American land drilling by the end of the year.

Helmerich & Payne Posts Higher Q2 Profit
Wednesday, May 02, 2007 Helmerich & Payne, Inc. reported net income of $106,861,000 ($1.02 per diluted share) from operating revenues of $372,536,000 for its second fiscal quarter ended March 31, 2007.

Helmerich & Payne Elects New Director
Thursday, March 08, 2007 Helmerich & Payne, Inc. on Wednesday announced that Randy A. Foutch was elected a Director at its Annual Shareholders' Meeting.

H&P Posts Record Net Income
Friday, February 02, 2007 Helmerich & Payne, Inc. reported record net income of $110,786,000 ($1.06 per diluted share) from operating revenues of $386,399,000 for its first fiscal quarter ended December 31, 2006.

Helmerich & Payne Announces Earnings and New Contracts
Thursday, November 16, 2006 Helmerich & Payne, Inc. reported net income of $293,858,000 ($2.77 per diluted share) from operating revenues of $1,224,813,000 for its fiscal year ended September 30, 2006.

Drillers Report Strong Activity Despite Weakening Prices
Friday, September 22, 2006 Against a backdrop of tanking oil and natural gas prices, drilling contractors Thursday struck a contrarian tone at an annual gathering here: business is almost too good.

Helmerich & Payne Provides Rig Construction Update
Thursday, August 31, 2006 Helmerich & Payne said it expects to complete construction of 24 new FlexRigs by the end of fiscal 2006 (September 30, 2006), and of the remaining 42 by the end of fiscal 2007.

H&P Announces New FlexRig Commitments
Friday, July 07, 2006 Helmerich & Payne, Inc. said that it will operate five new FlexRigs under 3-year term contracts for one exploration and production company. Other terms were not disclosed.

Tests Give Enap Confidence in Mercedes Gas
Thursday, June 29, 2006 Gas and oil flow tests on two of three natural gas reservoirs in southern Chile's second Lago Mercedes well have given state oil company Enap greater confidence in the basin's commercial viability, Enap announced.

Helmerich & Payne Shareholders Approve Increase in Authorized Capital
Friday, June 23, 2006 H&P's shareholders have approved an amendment to the Company's Restated Certificate of Incorporation to increase the number of authorized shares of common stock of the Company.

Commercial Reserves 99% Certain in Lago Mercedes Well
Tuesday, June 20, 2006 Enap's second well in Region XII's Lago Mercedes basin, known as Springhill, is 99% certain to provide commercially viable reserves.

Helmerich & Payne Sees Record Second Quarter Results
Thursday, April 27, 2006 Helmerich & Payne reported record net income of $64,573,000 ($1.22 per diluted share) from operating revenues of $290,830,000 for its second fiscal quarter ended March 31, 2006.

Bachelet Confirms Natural Gas Discovery in Region XII
Wednesday, April 19, 2006 Chile's President Michelle Bachelet confirmed there is natural gas in the Lago Mercedes basin of the country's far south Region XII on Tuesday, according to a government statement.

H&P Wins Additional New FlexRig Commitments
Monday, March 13, 2006 Helmerich & Payne report that separate three-year term contracts have been reached with four exploration and production companies to operate five new FlexRigs.

H&P Plans Two-for-One Stock Split
Thursday, March 02, 2006 The Board of Directors of Helmerich & Payne have approved a two-for-one stock split on its common stock.

H&P Announces First Quarter Earnings and More Rig Construction
Thursday, January 26, 2006 Helmerich & Payne, Inc. reported record net income of $50,814,000 ($0.96 per diluted share) from operating revenues of $255,388,000 for its first fiscal quarter ended December 31, 2005.

TESCO Announces Sale of 26 Top Drive Units
Tuesday, December 27, 2005 TESCO Corporation reports that it has received purchase orders for twenty-six (26) EMI 400HP top drive units from drilling contractor Helmerich & Payne International Drilling Co.

Enap to Complete Lago Mercedes Well in February 2006
Friday, December 16, 2005 Enap expects to complete its first gas exploration well in the Lago Mercedes basin of Tierra del Fuego in the country's southern Region XII in February 2006, an Enap spokesperson told BNamericas.

George S. Dotson to Retire from Helmerich & Payne
Friday, December 09, 2005 Helmerich & Payne reports that George S. Dotson will retire from the Company effective March 1, 2006, after a career that has spanned more than 35 years.

Helmerich & Payne Reports Earnings
Wednesday, November 16, 2005 Helmerich & Payne reports net income of $127,606,000 ($2.45 per diluted share) from operating revenues of $800,726,000 for its fiscal year ended September 30, 2005.

Helmerich & Payne Lands Contracts for 16 New FlexRigs
Friday, October 28, 2005 Helmerich & Payne reports that separate three-year term contracts have been reached with three exploration and production companies to operate 16 new FlexRigs.

Helmerich & Payne Sees No Significant Damage from Hurricane Rita
Monday, September 26, 2005 Helmerich & Payne does not expect any significant damage to its offshore platform rigs as a result of Hurricane Rita. Furthermore, the Company's onshore rigs, construction operations and facilities in the area impacted by the hurricane appear to have suffered little damage.

Helmerich & Payne's Rig 201 Severly Damaged in Hurrican Katrina
Thursday, September 01, 2005 Helmerich & Payne reports that one of its eight active offshore platform rigs located in the Gulf of Mexico has experienced significant damage as a result of Hurricane Katrina.

Helmerich & Payne To Build 3 More FlexRigs, Reactivate H&P 100
Thursday, August 25, 2005 H&P signs deals to build 3 more lands rigs based on its FlexRig designs, bringing the total number of rigs that the company is constructing up to 25. Separately, H&P has also reactivated the H&P Rig 100 offshore platform rig.

Helmerich & Payne, Inc. Announces Third Quarter Results
Wednesday, July 27, 2005 Helmerich & Payne reported net income of $29,825,000 ($0.57 per diluted share) from operating revenues of $207,387,000 for its third fiscal quarter ended June 30, 2005, compared with net income of $4,347,000 ($0.09 per diluted share) from operating revenues of $147,691,000 during last year's third fiscal quarter ended June 30, 2004.