Helmerich & Payne, Inc. (NYSE:HP) today announced that John Lindsay, President and Chief Executive Officer; Kevin Vann, Senior Vice President and Chief Financial Officer; and Dave Wilson, Vice President of Investor Relations plan to participate in the following investor conferences during the month of March 2025. Participation by the management team will vary by event.
- The Piper Sandler 25th Annual Energy Conference on Tuesday and Wednesday, March 18-19, 2025; Lindsay will participate in a panel discussion on behalf of the Company on Wednesday, March 19, 2025 at 10:45 a.m. U.S. PT.
- The NYSE Energy & Utilities Virtual Investor Access Day on Thursday, March 20, 2025.
Market Update: Subsequent to H&P's first fiscal quarter of 2025 earnings release on February 5, 2025, the Company received notices of contract suspensions for an additional two rigs from the legacy KCA Deutag rig fleet operating in Saudi Arabia. This brings the Company's total rig suspensions in country to 14 rigs.
President and CEO John Lindsay commented, "While these incremental suspensions are disappointing, we do not expect them to have an incremental adverse material impact on the Company's financial position. As we have mentioned previously, we remain positive on the long-term strategic prospects of having a large-scale drilling presence in the region and are actively pursuing the cost synergies we discussed on the first fiscal quarter earnings conference call."
About Helmerich & Payne, Inc.
Founded in 1920, Helmerich & Payne, Inc. is committed to delivering industry leading drilling productivity and reliability. H&P operates with the highest level of integrity, safety and innovation to deliver superior results for our customers and returns for shareholders. Through its subsidiaries, the Company designs, fabricates and operates high-performance drilling rigs in conventional and unconventional plays around the world. H&P also develops and implements advanced automation, directional drilling and survey management technologies. For more information, visit hpinc.com.
Forward Looking Statements
This release includes "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, and such statements are based on current expectations and assumptions that are subject to risks and uncertainties. All statements other than statements of historical facts included in this release, including, without limitation, statements regarding the anticipated benefits (including synergies and cash flow and free cash flow accretion) of the acquisition and integration of KCA Deutag, the anticipated impact of the acquisition of KCA Deutag on the Company's business and future financial and operating results, the anticipated timing of expected synergies and returns from the acquisition of KCA Deutag, the anticipated number of and impact of suspended rigs related to the Acquisition, the timing and terms of recommencement of suspended rigs related to the Acquisition, the Company's business strategy, future financial position, operations outlook, future cash flow, future use of generated cash flow, dividend amounts and timing, amounts of any future dividends, investments, active rig count projections, projected costs and plans, objectives of management for future operations, contract terms, financing and funding, capex spending and budgets, outlook for domestic and international markets, future commodity prices, future customer activity and relationships and the expected impact of the integration of KCA Deutag are forward-looking statements. For information regarding risks and uncertainties associated with the Company's business, please refer to the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections and other disclosures in the Company's SEC filings, including but not limited to its annual report on Form 10‑K and quarterly reports on Form 10‑Q. As a result of these factors, Helmerich & Payne, Inc.'s actual results may differ materially from those indicated or implied by such forward-looking statements. Investors are cautioned not to put undue reliance on such statements. We undertake no duty to publicly update or revise any forward-looking statements, whether as a result of new information, changes in internal estimates, expectations or otherwise, except as required under applicable securities laws.
Helmerich & Payne uses its website as a channel of distribution for material company information. Such information is routinely posted and accessible on its Investor Relations website at hpinc.com.
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IR Contact:
Dave Wilson, Vice President of Investor Relations
918-588-5190
[email protected]