About the Company
Headquartered in Tulsa, Oklahoma, Helmerich & Payne, Inc. is a petroleum contract drilling company. It is engaged in gas & oil gas well drilling alongside services related to production and exploration companies. The company has more than 8,500 employees working in its operations located all around the world. Some of its operations are located in Colombia, the United Arab Emirates, Colorado, Oklahoma, Pennsylvania, Mississippi, Argentina, Bahrain, North Dakota, etc.
It offers its drilling business under three segments, namely International Operations, US Land Operations and Offshore Platform Operations. Under these, it offers a vast range of Apps together categorised as FLEXAPPS and a range of drilling rigs namely FLEX3, FLEX4, FLEX5. The company also offers five types of technologies that improve the process of drilling and makes them long-lasting. These technologies are BHA Modeling, Bit Guidance, Constancy Software and Training, Autoslide and Wellbore Accuracy and Placement. Helmerich & Payne also provides sustainability regarding safety, human capital, community, environment and ethics and compliance.
The company came into existence due to a joint venture between Bill Payne and Walt Helmerich II in 1920 after they met on an oil rig in Texas. After almost six years from then, it relocated to its headquarter in Tulsa, Oklahoma. It overcame the Great Depression by shifting its attention from selling oil to contract drilling for other companies. In 1958, it started to venture into international operations through several arrangements with White Eagle.
It was not until 1994 that the company made its first significant acquisition when it acquired Ensco’s land Drilling business. Since then, it has innovated several rigs and expanded its reach both technologically and in terms of location. By 2011, it became the largest land drill worldwide in regards to market capitalisation. In 2017, it made two more substantial acquisitions and added MagVAR Variation Services and MOTIVE Drilling Technologies to its family.
It entered the New York Stock Exchange in 1963 under the trading symbol HP and as of 2020 is one of the S&P 500 components. Helmerich Payne has also made its place in the Fortune 1000 companies and ranks 825th in its 2020 list.;
|Organisation||Helmerich & Payne Inc|
|Industry||Oil & Gas Drilling|