Helmerich & Payne Continuing to Rebound, but at No Steeper Pace Than We Expected
Helmerich & Payne announced a quarterly operating loss of $93 million, with the difference from our expectation of a loss of $46 million accounted for by a $19 million lawsuit settlement charge as well as a $38 million non-cash asset decommissioning charge.Key operating performance slightly underperformed our expectations, which remain bearish relative to consensus. H&P’s U.S. land drilling segment average rig count increased from 82 to 86, versus our predicted 96. After adjusting for c...
Helmerich & Payne provides drilling services and technologies for oil and gas exploration and production companies. The company's contract drilling business segments are: United States Land, which operates in Colorado, Louisiana, Ohio, Oklahoma, Montana, New Mexico, North Dakota, Pennsylvania, Texas, Utah, West Virginia and Wyoming; Offshore, which operates in United States federal waters in the Gulf of Mexico; and International Land, which has rigs in Argentina, Bahrain, Colombia and United Arab Emirates. The company's drilling technology-based business segment, Helmerich & Payne Technologies, is focused on developing, promoting and commercializing technologies designed to improve the drilling operations.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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