Helmerich Payne (HP) Enters Agreements for Three FlexRigs

January 31, 2013 6:29 AM EST
Helmerich Payne (NYSE: HP) has entered into agreements to build and operate three additional FlexRigs in the U.S. with two exploration and production companies. The three rigs will be built under multi-year term contracts and are expected to generate attractive economic returns for the Company. Including the new builds announced today, five contracted FlexRigs remain to be delivered. Once these rigs are delivered, the Company's global fleet is expected to include 299 FlexRigs.

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