Helmerich & Payne

Background

Helmerich & Payne Inc. (H&P) provides onshore and offshore drilling rig services with assets in the United States, Colombia, Argentina, Bahrain, and the United Arab Emirates. Operations are organized into four business units: U.S. Land, Offshore, International Land, and Technologies. Ordinary shares are listed on the NYSE (HP) exchange.

Helmerich & Payne was founded in 1920 as a joint venture between Walter Helmerich II and William Payne in Texas. The company moved its headquarters to Tulsa in 1926. In 1944, the company became a wholly-owned subsidiary of White Eagle Oil with a focus on contract drilling. White Eagle was dissolved in 1959, and H&P assumed its previous corporate identity. In 1994, H&P acquired the land drilling division of Ensco.

DrillScan was founded in 2001 by Christophe Simon. TerraVici Drilling Solutions was founded in 2004 to design and manufacture rotary-steerable drilling equipment and acquired by H&P in 2008. The company acquired technology companies Motive Drilling Technologies and Magnetic Variation Services (MagVAR) in 2017 as well as Angus Jamieson Consulting (AJC) in 2018. The company acquired DrillScan in 2019 which was added to the Technologies division.

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Well Construction

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