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Helmerich & Payne, Inc. (H&P) is a Delaware-incorporated company specializing in performance-driven drilling solutions and technologies for oil and gas exploration and production companies. Founded in 1920, H&P focuses on improving the efficiency, accuracy, and safety of hydrocarbon recovery processes. The company offers drilling services and technologies, along with real estate investments and captive insurance programs.
- North America Solutions - Provides drilling services primarily in Texas and other U.S. states, including Colorado, Louisiana, New Mexico, North Dakota, Ohio, Oklahoma, Pennsylvania, Utah, West Virginia, and Wyoming.
- International Solutions - Offers rigs and services in international locations such as Argentina, Bahrain, Colombia, the United Arab Emirates (U.A.E.), Australia, and Saudi Arabia.
- Offshore Gulf of Mexico - Conducts drilling operations in Louisiana and U.S. federal waters in the Gulf of Mexico.
- Other - Includes real estate investments in Tulsa, Oklahoma, with commercial properties and undeveloped land, as well as captive insurance programs for various liabilities.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
John W. Lindsay ExecutiveBoard | President and Chief Executive Officer | Director at Arcosa, Inc. | John W. Lindsay has served as President and Chief Executive Officer of HP since 2014 and as a Director since 2012. He began his career at HP in 1987 , building decades of industry and operational expertise. | View Report → |
Cara M. Hair Executive | Senior Vice President, Corporate Services and Chief Legal and Compliance Officer | Cara M. Hair is the Senior Vice President, Corporate Services and Chief Legal and Compliance Officer at HP since December 2020. She has advanced through several key legal and compliance roles at HP since 2006, including serving as Vice President, Corporate Services and Chief Legal and Compliance Officer from August 2017 to December 2020. | ||
J. Kevin Vann Executive | Senior Vice President and Chief Financial Officer | J. Kevin Vann is the Senior Vice President and Chief Financial Officer at Helmerich & Payne since August 15, 2024, and he previously served as CFO of WPX Energy from 2014 to 2021 while also holding various financial roles at The Williams Companies between 1998 and 2011. | ||
Michael P. Lennox Executive | Senior Vice President, Americas Operations | Michael P. Lennox has served as Senior Vice President, Americas Operations at Helmerich & Payne International Drilling Co. since December 2020, previously serving as Vice President, U.S. Land Operations (August 2017 to December 2020) and as District Manager (2012 to August 2017). | ||
Belgacem Chariag Board | Director | Board Member at Harbour Energy, Plc. since 2023 | Belgacem Chariag has been a Director at Helmerich & Payne since August 2021. He brings extensive leadership experience from previous roles in the oil and gas industry, including executive positions at Baker Hughes and Schlumberger. | |
Delaney M. Bellinger Board | Director | Board member, Texas TicKids ; Advisory Board member, The Gateway Academy in Houston, Texas | Delaney M. Bellinger has served as a Director at HP since July 2018. She is an active board member serving on the Audit Committee and the Nominating and Corporate Governance Committee, and she has extensive experience from prior roles at ExxonMobil, EDS, and YUM! Brands. | |
Donald F. Robillard Board | Director at Helmerich & Payne, Inc. | Director at Cheniere Energy, Inc.; Chair of Audit Committee at Cheniere Energy, Inc.; Board Director at Hunt Consolidated (returned in 2024) | Donald F. Robillard, Jr. has been serving as a Director at HP since June 2012, where he also chairs the Audit Committee and serves on the Nominating and Corporate Governance Committee. He brings extensive experience from his active roles outside HP, including his current position as Director at Cheniere Energy, Inc. (with a concurrent role as Chair of its Audit Committee since 2015) and a renewed board directorship at Hunt Consolidated in 2024. | |
Elizabeth R. Killinger Board | Director | Chair of the Finance Committee at Hope Media Group; Secretary of the Board at Texas Economic Development Corporation; Chair of the Marketing & Branding Committee at the University of Houston Energy Advisory Board; Board Member at Texas Dow Employee Credit Union; Board Member at Junior Achievement of Southeast Texas; Board Member at Greater Houston Partnership | Elizabeth R. Killinger has served as a Director at HP since June 30, 2023 and is a member of the Audit Committee and the Nominating & Corporate Governance Committee. Previously, she held an executive position as Executive Vice President of NRG Home at NRG Energy and has extensive board experience across various organizations. | |
Hans Helmerich Board | Chairman of the Board | Director of Coterra Energy, Inc. (since 2021) | Hans Helmerich has been Chairman of HP since 2012 and a Director since 1987. He previously served as CEO from 1989 until his retirement in 2014. | |
John D. Zeglis Board | Director | CEO and Chairman of the Board of AT&T Wireless Services, Inc. (1999-2004); President of AT&T Corporation (December 1997–July 2001); Vice Chairman at AT&T Corporation (June 1997–November 1997); General Counsel and Senior Executive Vice President at AT&T (1996–1997); Senior Vice President and General Counsel at AT&T Corporation (1986–1996); Board of Directors Member at The Duchossois Group (Since 2010) | John D. Zeglis has served as a Director at Helmerich & Payne, Inc. (HP) since 1989, where he contributes his extensive expertise in executive leadership, corporate governance, and risk management. He has held multiple leadership roles outside HP including senior positions at AT&T and a board membership at The Duchossois Group. | |
José R. Mas Board | Director | CEO of MasTec, Inc.; Board Member, MasTec, Inc. | José R. Mas has served as the Director at HP since March 2017, sitting on both the Human Resources and Nominating & Corporate Governance committees. Previously, he has been the Chief Executive Officer of MasTec, Inc. since 2007 and a Board Member of MasTec, Inc. since 2001. | |
Kevin G. Cramton Board | Director | Executive Partner at HCI Equity Partners | Kevin G. Cramton has been a Director at HP since March 2017. He contributes his extensive financial and governance expertise as a board member, serving on the Audit and Nominating & Corporate Governance Committees. | |
Randy A. Foutch Board | Director | Independent Director at Galileo Holdco 1 Limited; Board Member at Citizen Energy; Director at CapturePoint LLC; Advisory Board Member at Pattern Computer, LLC | Randy A. Foutch has been a Director at HP since March 2007, and currently serves as Chair of the Nominating and Corporate Governance Committee as well as a member of the Human Resources Committee. | |
Thomas A. Petrie Board | Director | Board of Trustees of the Denver Art Museum; Board of Directors of the C.M. Russell Museum | Thomas A. Petrie has served as a Director at Helmerich & Payne since 2012 and has contributed his leadership through committee roles including serving as Chair of the Human Resources Committee. Over his 10+ years on the board, he has brought extensive expertise from his previous roles in the energy finance sector. | |
John R. Bell | No information is available in the documents regarding John R. Bell's role at HP. However, the documents detail his extensive executive experience at Helmerich & Payne International Holdings, LLC where he has held roles including Senior Vice President and Vice President positions since 2002. |
- Based on previous discussions, can you clarify your plan and timeline for recognizing the $5–5.5 billion KCA Deutag backlog, and what factors might cause recognition delays?
- With 8 rigs deployed in Saudi Arabia and only 3 currently spud, what specific milestones are you targeting before these rigs deliver the expected $20 million EBITDA margin contribution?
- Given the higher-than-expected start-up costs in your legacy international operations, when do you anticipate these expenses will normalize, allowing the division to reach breakeven or positive direct margins?
- How do you plan to manage the near-term impact on free cash flow from the increased cash tax guidance and integration-related costs associated with the KCA acquisition?
- In light of the ongoing rig suspensions, what measures are in place to prevent cannibalization between the suspended legacy KCA rigs and new deployments, and how will you ensure operational efficiency amid these challenges?
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
In the United States, the company competes with this entity, among others, based on the quality of its FlexRig® drilling rigs, engineering design expertise, operational efficiency, software technologies, and safety and environmental awareness. Additionally, in the Gulf of Mexico platform rig market, the company primarily competes with this entity. | |
This entity is one of the competitors in the United States market where the company operates, competing on factors such as rig quality, operational efficiency, and safety standards. | |
This entity is listed as a competitor in the United States market, where competition is driven by rig availability, operational efficiency, and other factors. | |
Blake International Rigs, LLC | In the Gulf of Mexico platform rig market, the company primarily competes with this entity alongside others. |
| Customer | Relationship | Segment | Details |
|---|---|---|---|
Largest Drilling Customer | Drilling services | All | $302.6 million (approximately 11.0% of FY2024 total consolidated revenue) |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
KCA Deutag International Limited | 2025 |
Recent press releases and 8-K filings for HP.
- Voting outcomes: At the 2025 Annual Meeting, stockholders elected directors, reduced the board size to 10 members, ratified Ernst & Young as the independent auditor for fiscal year ending September 30, 2025, and approved the advisory vote on executive compensation.
- Dividend declaration: The board declared a quarterly cash dividend of $0.25 per share, payable on May 30, 2025.
- Strong Q1 financial performance with 149 contracted rigs, North America Solutions Direct Margin of $265.5M, adjusted EBITDA of $198.9M, and operating cash flow of $158.4M .
- Maintained North America market share and consistent margin generation despite a sequential revenue decline to $677M, bolstered by robust cash flow .
- Advancing KCA Deutag acquisition integration and international expansion, including deployment of 8 FlexRigs to Saudi Arabia, while managing temporary rig suspensions impacting near‐term margins .
- Updated Q2 guidance highlights revised Direct Margin and rig count expectations, supported by a capital efficiency focus and a $400M debt reduction goal .
- Financial resilience underscored by liquidity of $1.2B and a backlog of approximately $7B, complemented by $526M in cash/short-term investments and a 2025 outlook including $280M in general and administrative expenses .
- The company reported net income of $55 million (or $0.54 per share) on $677 million of operating revenues, with operating cash flow of $158 million and an adjusted EBITDA of $199 million.
- Key highlights include a North America Solutions segment with 148 active rigs, execution of the KCA Deutag acquisition adding approximately $5.5 billion in backlog, and a quarterly cash dividend of $0.25 per share.
- Helmerich & Payne announced the completion of its acquisition of KCA Deutag International Limited on January 16, 2025, enhancing its global onshore drilling capabilities.
- The acquisition is expected to accelerate the company's international growth strategy and diversify its geographic and operational mix, particularly increasing its Middle East presence.
- The integration includes management adjustments, with the departure of KCA Deutag's CEO, while H&P continues headquartered in Tulsa, Oklahoma.