Helmerich & Payne (HP) to Acquire KCA Deutag for $1.97 billion
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Helmerich & Payne Announces Agreement to Acquire KCA Deutag
July 25, 2024 8:09 AM EDTEstablishes 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
