Helmerich & Payne, Inc. Simmons & Co. International Twelfth Annual Energy Conference March 1-2, 2012
Comments on Todays Market As natural gas prices remain low in the U.S., the transition towards liquids-rich gas and oil directed drilling continues. Spot pricing remains steady in the U.S. Land market, especially for AC drive…
H&Ps Growing Exposure to Oil & Liquids Estimated proportion of H&Ps active U.S. Land rigs by primary hydrocarbon target * Includes rigs in the spot market and rigs with term contracts expiring by June 30, 2012.
H&P Activity as of February 29, 2012 Rigs Rigs Working/ % Available Contracted Contracted (1) U.S. Land 262 237 90% Offshore 9 6 67% (2) International Land 26 22 85% Total 297 265 89% (3) FlexRig Construction 36 36 Total Fleet 333…
H&Ps U.S. Land Fleet Activity (1) (2) (1) Active rigs on term (in blue) generated both revenue and revenue days. (2) Includes completed new builds that were waiting on customers and which generated revenue but did not generate…
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