H&P get orders for new FlexRigs

Tulsa-based Helmerich & Payne said it has added orders for eight additional newbuild FlexRigs backed by long-term contracts from four different operating companies.

So far this year, the drilling contractor has received orders for 61 of its signature high-spec FlexRigs from 15 different customers and has already delivered 31 of them.

H&P plans to ramp up its build rate later this year from three rigs per month to four rigs per month to meet demand, the company said.

The red-hot Permian basin is the most popular destination for the newbuilds, with 29 heading to the area along the border between West Texas and New Mexico.

The next most popular destination was Eagle Ford (12 rigs), the Scoop tight-oil play in Oklahoma (8), Utica shale (4), Bakken (4), Haynesville (2), Niobrara (1) and the Tuscaloosa Marine shale (1).

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