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Helmerich & Payne, Inc. (symbol: HP) is a preeminent global drilling contractor, distinguished by its extensive operations across the U.S., Latin America, the Middle East, Africa, and the Gulf of Mexico. H&P is a trailblazer in drilling technology, notably exemplified by its proprietary AC FlexRig® technology. Possessing the largest fleet of AC drive drilling rigs globally, H&P is at the forefront of the U.S. unconventional drilling sector.
Founded nearly a century ago, Helmerich & Payne has maintained its status as a top industry performer through unwavering commitment to innovation and service. The company’s FlexRig® line is hailed for its efficiency in drilling horizontal wells, which are essential for the production of U.S. tight oil and gas. This technological edge has cemented H&P's presence in nearly every major U.S. shale play, while also expanding its reach in international markets.
Financially robust, H&P continues to expand and enhance its capabilities. Noteworthy recent achievements include advancements in drilling automation and strategic partnerships aimed at optimizing operational efficiency. The company remains dedicated to driving progress within the industry, consistently delivering top-tier drilling solutions to its clients.
For those interested in joining H&P's dynamic team, the company offers numerous opportunities in rig-based or field positions. Prospective applicants can explore current openings at H&P Careers.
Helmerich & Payne (NYSE: HP) announced participation in investor conferences throughout March 2022. Key executives include John Lindsay (CEO), Mark Smith (CFO), and Dave Wilson (VP of Investor Relations). Events include the Fearnley Securities Seminar on March 16, where Mr. Smith will present, the Piper Sandler Energy Conference on March 22-23, and the NYSE Energy & Utilities Access Day on March 24. Investor information is available for download on their website.
Helmerich & Payne reported a net loss of $51 million for Q1 fiscal 2022, equating to $(0.48) per diluted share. This is an improvement from a $79 million net loss in Q4 fiscal 2021. Operating revenues rose to $410 million, up from $344 million. The company successfully increased its active rig count to 154, reflecting a 20% rise. Notable factors included a $60 million expense from redeeming 2025 Notes. The quarterly cash dividend was declared at $0.25 per share, payable February 28, 2022. Expectations for Q2 include increased margins, with North America Solutions projected between $100-$115 million.
Helmerich & Payne, Inc. (NYSE: HP) will release its fiscal first quarter 2022 earnings on February 1, 2022, at 11:00 a.m. ET. A conference call featuring key executives, including CEO John Lindsay and CFO Mark Smith, will discuss the earnings and any major developments. Investors can access the call via phone or audio webcast, with information available on the company’s website. The call will also be archived for 365 days for those unable to attend live.
Helmerich & Payne, Inc. (NYSE: HP) announced participation in January 2022 investor conferences. Senior executives will represent the company at notable events, including the Goldman Sachs Global Energy and Clean Technology Conference on January 5, with Trey Adams participating in a virtual panel at 10:20 a.m. ET. Additionally, they will attend the ATB 10th Annual Institutional Investor Conference on January 12. Investor presentation slides will be available on their website on January 3.
ADNOC Drilling and Helmerich & Payne have finalized the Rig Enablement Framework Agreement, enhancing operational performance and efficiency across ADNOC Drilling's land rig fleet. This partnership aims to streamline operations, reduce costs, and support ADNOC's ambitious growth plans. The agreement builds on previous collaborations and is expected to yield significant operational savings. H&P's commitment includes a $100 million cornerstone investment in ADNOC's IPO, which raised over $1.1 billion, reflecting strong investor confidence.
Helmerich & Payne reported a net loss of $79 million or $(0.74) per diluted share for Q4 FY2021, compared to a net loss of $56 million in the previous quarter. Revenues rose by $12 million to $344 million, while expenses increased by $18 million to $224 million. The North America Solutions segment showed a 5% increase in active rigs, totaling 127, with expectations to reach 152-157 rigs in Q1 FY2022. Additionally, the company executed an $86.5 million sale of eight rigs to ADNOC Drilling and a $100 million investment in their IPO. A quarterly cash dividend of $0.25 is declared.
Helmerich & Payne, Inc. (NYSE: HP) announced a conference call on November 18, 2021, at 11:00 a.m. ET to discuss its fiscal fourth quarter 2021 earnings. CEO John Lindsay, CFO Mark Smith, and VP of Investor Relations Dave Wilson will participate. Investors can access the call via phone or audio webcast. For those unable to attend, the call will be archived on the company’s website for 365 days. Helmerich & Payne, founded in 1920, is committed to delivering industry-leading drilling productivity and reliability.
Helmerich & Payne, Inc. (NYSE:HP) has completed a private offering of $550 million in 2.900% senior notes due 2031. This strategic move is aimed at extending debt maturity at a lower interest rate, leveraging the company's strong financial profile amidst a low-rate environment. The funds will be used to redeem $487.1 million of 4.65% Senior Notes due 2025. CEO John Lindsay emphasized that the offering positions H&P to grow its domestic market share and expand internationally while utilizing advanced technologies.
Helmerich & Payne, Inc. (NYSE:HP) has priced a private offering of $550 million in 2.900% senior notes due 2031, expanding from an initially planned $500 million. The proceeds will be used to redeem the outstanding $487.1 million of its 4.65% Senior Notes due 2025. The offering is set to close on September 29, 2021, subject to customary conditions. The Notes are not registered under the Securities Act, limiting their sale to qualified institutional buyers and certain non-U.S. persons.
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