Helmerich & Payne (HP) Q1 Revenue Tops Views
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Helmerich & Payne, Inc. Announces First Quarter Results
February 3, 2020 5:16 PM ESTQuarterly U.S. Land revenue decreased $36 million to $509 million sequentially, while operating gross margins(1) decreased by $7 million to $182 million sequentially; revenue days decreased 6% to 17,684 from 18,765 in the prior quarter Both quarterly U.S. Land adjusted average rig revenue of $25,397(2) per day and U.S Land adjusted average rig margin of $10,410(2) per day were roughly flat sequentially H&P's drilling automation technology, AutoSlideSM, has been commercially deployed in six U.S. shale basins, and has drilled over 150 wells and 2.6 million feet Approximately 10% of the Companys active U.S. FlexRig® fleet operated under non-traditional dayrate... More
