Helmerich & Payne, Inc. Overview
Pro stress-test →Helmerich & Payne, founded in 1920, designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. The company develops and implements advanced automation, directional drilling and survey management technologies. As of February 2026, H&P operates a fleet of 203 land rigs in the United States, 137 international land rigs and 5 offshore platform rigs, plus approximately 30 offshore labor contracts.
Strategic Profile
Pro stress-test →H&P demonstrates fleet durability and leading margin generation through the cycle, with meaningful commercial momentum across the U.S. land market reflected in new contracts and extensions, alongside expanded deployment of FlexRobotics technology. By mid-2026 the company expects to operate 24 rigs in Saudi Arabia including 8 proprietary FlexRigs and 16 from the KCA Deutag acquisition. H&P's joint venture TURAN secured a five-year offshore operations and maintenance contract renewal with bp in the Caspian Sea effective March 2026, providing services for eight offshore platforms.
Competitive Landscape
Pro stress-test →H&P competes in the global contract drilling market primarily against other large drilling contractors operating diverse rig fleets across onshore and offshore segments. The company differentiates through proprietary FlexRig and FlexRobotics automation technologies, strong customer relationships in core North America and Middle East markets, and operational scale. North America Solutions segment leads the market in per-day margins, while international expansion follows the KCA Deutag acquisition.
Industry Context
Helmerich & Payne, Inc. operates in Contract drilling services.
Key facts
Founded: 1920 · Headquarters: Tulsa, Oklahoma · Employees: N/A · Revenue: $932M (Q2 2026) · Market cap: N/A