$HP (Helmerich & Payne, Inc.)

$HP {{ '2016-01-28T17:38:48+0000' | timeago}} • Webcast

$HP said that the effective income tax rate for 1Q16 was higher than expected primarily as a result of adjustments related to the recent tax law change, extending bonus depreciation allowances that expired at the end of 2014. The company expects that effective tax rate for each of the remaining three quarters of 2016 to be in the range of 32-35%.

$HP {{ '2017-05-22T19:40:00+0000' | timeago}} • Announcement

$HP agreed to buy MOTIVE Drilling Technologies for $75MM payable at closing and up to an additional $25MM in potential earnout payments based on future performance during the next few years. The transaction is pending and is expected to close in June 2017.

$HP {{ '2017-04-27T11:58:20+0000' | timeago}} • Announcement

$HP's 2Q17 US Land segment revenue decreased 5.24% to $330.96MM in 2Q17 compared to a year ago. Offshore segment revenue on the other hand increased 5.53% to $36.23MM. However, International Land segment revenue declined drastically by 32.32% YoY to $34.75MM.

$HP {{ '2017-04-27T11:54:51+0000' | timeago}} • Announcement

$HP expects its international land & offshore market outlook to remain weak for the near future. For 3Q17, U.S. Land Operations quarterly revenue days (QRD) is expected to be up about 25% sequentially. In Offshore Operations $HP expects QRD to decline by approx. 10-15%, while International Land Operations QRD is expected to be down by approx. 10%.

$HP {{ '2017-04-27T11:46:43+0000' | timeago}} • Announcement

Petroleum contract drilling company $HP swung to a loss in 2Q17, hurt by lower revenue in US Land and International Land segments. Net loss was $48.81MM or $0.45 loss per share compared to a net income of $21.2MM or $0.19 per share a year ago. Operating revenue declined 7.51% to $405.28MM in the quarter.

$HP {{ '2017-03-07T19:34:07+0000' | timeago}} • Announcement

Driller $HP announced that Kevin G. Cramton and José R. Mas were appointed to the company’s BoD effective March 1, 2017. Mr. Mas has been the CEO of $MTZ since April 2007, while Mr. Cramton is an operating partner at HCI Equity Partners, a private equity firm.

$HP {{ '2017-01-26T12:28:16+0000' | timeago}} • Announcement

$HP's US Land segment revenue decreased 29% to $263.6MM in 1Q17 vs. the prior year quarter. Offshore and International Land segment's revenue decreased 19% and 5%, respectively. CEO John Lindsay said that the outlook has been improving in US Land drilling market, resulting in increased activity levels and market share over the last few months.

$HP {{ '2017-01-26T12:13:17+0000' | timeago}} • Announcement

For its largest segment U.S. land, $HP expects revenue days (activity) to increase by roughly 30-35% during 2Q17 compared to 1Q17. In the offshore segment, the company expects revenue days to decrease by approx. 10% compared to 1Q17. In the international land segment, revenue days are expected to decline by approx. 38% for 2Q17.

$HP {{ '2017-01-26T12:02:34+0000' | timeago}} • Announcement

$HP reported a swing to a loss in 1Q17, hurt by lower revenue in all the three segments. Net loss was $35MM or $0.33 per share compared to net income of $16MM or $0.15 per share in 1Q16. Operating revenue declined 24% to $369MM in the recently ended quarter.

$HP {{ '2016-11-17T16:51:12+0000' | timeago}} • Webcast

$HP's total depreciation for FY17 is expected to decline to about $525MM, while G&A expenses are expected be about $140MM. The decline in depreciation expense estimate is related mainly to the low level of CapEx during FY16 and FY17.

$HP {{ '2016-11-17T16:43:42+0000' | timeago}} • Webcast

$HP said the company's backlog in 4Q16 remain strong, with a backlog of $1.8Bil as at Sept. 30, 2016. FY17 capital expenditure is expected to be about $200MM, of which 30% is expected to be related to maintenance CapEx and tubulars and the rest mostly related to upgrade of company's existing fleet.

$HP {{ '2016-11-17T12:21:59+0000' | timeago}} • Announcement

In the U.S. land segment, $HP expects revenue days (activity) to increase by roughly 20% during 1Q17. In the international land segment, it expects revenue days to decrease by approximately 5%. Capital expenditures for FY17 are expected to be roughly $200MM.

$HP {{ '2016-11-17T12:18:02+0000' | timeago}} • Announcement

For its largest U.S. Land operations, $HP reported an operating lossof $70MM for 4Q16, compared with segment operating income of $34MM a year ago.  As compared to 3Q16, the decrease in segment operating income was primarily attributable to a decline in early termination revenues and to charges of $38.1MM.

$HP {{ '2016-11-17T12:09:41+0000' | timeago}} • Announcement

Petroleum contract drilling company $HP reported a wider 4Q16 net loss of $72.9MM, or $0.68 per share, compared to a net loss of $27.6MM, or $0.26 per share a year ago. Included in net loss per share for the latest reported quarter are approx. $0.35 in after-tax losses. Operating revenues fell to $331.71MM from $553.8MM.

$HP {{ '2016-07-28T22:38:51+0000' | timeago}} • Webcast

In international land operations, $HP said the segment reported operating loss of approx. $5MM during 3Q16. Excluding the impact of employee severance expenses, the average rig margin per day decreased sequentially by approx. 12% to $9,461 per day, partly as a result of greater number of rigs generating standby-type day rates during 3Q16.

$HP {{ '2016-07-28T22:38:01+0000' | timeago}} • Webcast

In offshore operations, $HP said its segment operating income declined slightly to approx. $2MM from $3MM during the prior quarter. Looking at 4Q16, the company expects quarterly revenue days to slightly increase by approx. 1% as 7 of its 9 offshore platform rigs continue to generate revenue days during the quarter.

$HP {{ '2016-07-28T22:37:29+0000' | timeago}} • Webcast

$HP said that looking ahead to 4Q16, the company expects a quarter-to-quarter increase in the range of 3-7% in the number of total revenue days. Excluding the impact of revenues corresponding to early terminated long-term contracts, $HP expects its average rig revenue per day to decline to approx. $24,000.

$HP {{ '2016-07-28T19:35:45+0000' | timeago}} • Announcement

$HP expects revenue days (activity) in the offshore segment to increase by about 1% during 4Q16 as compared to 3Q16 and average rig margin per day to be about $8,000. $HP sees activity in the international land segment to rise by about 5-10% and average rig margin per day to be roughly $8,300 during 4Q16.

$HP {{ '2016-07-28T19:34:01+0000' | timeago}} • Announcement

$HP expects revenue days (activity) in the U.S. land segment to increase by roughly 3-7% during 4Q16 as compared to 3Q16. Excluding any impact from early termination revenue, the average rig revenue per day is expected to be roughly $24,000, and the corresponding average rig expense per day is expected to decrease to roughly $13,300.

$HP {{ '2016-07-28T19:31:54+0000' | timeago}} • Announcement

$HP reported a 3Q16 loss of $21.2MM or $0.20 per share compared to a profit of $90.87MM or $0.83 per share last year, due to lower revenue, lower levels of activity and rig margins. Operating revenues dropped to $366.49MM from $661.45MM. Segment operating income for U.S. land operations fell to $26MM from $63MM a year ago.

$HP {{ '2016-06-06T11:36:17+0000' | timeago}} • SEC

$HP's BoD has authorized the repurchase of up to 4MM shares per calendar year. During 1H16, company purchased 810,097 shares at $59.7MM, which are held as treasury shares. On March 2, 2016, BoD declared a dividend of $0.6875 per share or a total of $149.3MM payable June 1 to shareholders of record on May 13.

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