H&P orders rigs, posts profit hike

Helmerich & Payne

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Eoin O'Cinneide

 31 January 2013 12:28 GMT

US independent Helmerich & Payne has inked an order along with two oil companies for a trio of land drilling rigs.

The company also revealed a “record” set of first-quarter results for the financial year beginning in October with offshore and international land drilling numbers strong.

H&P said it will build and operate a trio of FlexRigs with a pair of unidentified exploration & production (E&P) companies, adding to the two it already has on order. The units will be built in the US, but the company did not say where or at what price.

“The three rigs will be built under multi-year term contracts and are expected to generate attractive economic returns for the company,” H&P said.

H&P also boosted first-quarter…

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