Helmerich & Payne (HP) to Acquire KCA Deutag for $1.97 billion

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Go back to Helmerich & Payne (HP) to Acquire KCA Deutag for $1.97 billion

Helmerich & Payne Announces Agreement to Acquire KCA Deutag

July 25, 2024 8:09 AM EDT

Establishes H&P as a global leader in onshore drilling Immediately accretive to cash flow and free cash flow per share Enhances scale and diversification, now with leading positions in the U.S. and Middle East, the two most prominent oil and gas producing regions in the world Increases H&Ps Middle East rig count(1) from 12 rigs to 88 rigs; positioning the Company as one of the largest rig providers in the Middle East market Expects to maintain its high-quality investment grade credit rating Adds complementary, asset-light global offshore management... More