Helmerich & Payne Completes Acquisition of KCA Deutag
January 16, 2025
President and CEO of H&P,
Lindsay continued, “Over the past several months, team members across the company have been diligently working on the planning associated with this integration and providing excellent service to our customers. I am appreciative of and impressed by the entire team across our global operations for all of their hard work and commitment. I’d also like to thank
With the acquisition of
-
Accelerating the Company’s international growth strategy by significantly increasing its
Middle East presence: -
Enhancing scale and diversification, with a robust geographic and operational mix across
U.S. and international crude oil and natural gas markets; and - Strengthening the Company’s cash flow with a more diversified and durable revenue stream.
As previously announced, H&P remains headquartered in
H&P expects to provide an updated outlook for fiscal year 2025 in connection with reporting fiscal first quarter 2025 results.
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Founded in 1920,
Disclaimer:
This news release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this news release are forward-looking statements. Forward-looking statements may be identified by the use of forward-looking terminology such as “may,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe,” “predict,” “project,” “target,” “continue,” or the negative thereof or similar terminology, and such include, but are not limited to, statements regarding the anticipated benefits of the acquisition, the anticipated impact of the acquisition on the Company’s business and future financial and operating results, and statements regarding our future financial position, business strategy, prospects, and plans and objectives of management. Forward-looking statements are based upon current plans, estimates, and expectations that are subject to risks, uncertainties, and assumptions, many of which are beyond our control and any of which could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Although we believe that the expectations reflected in such forward-looking statements are reasonable, we can give no assurance that such expectations will prove to be correct. The inclusion of such statements should not be regarded as a representation that such plans, estimates, or expectations will be achieved. Factors that could cause actual results to differ materially from those expressed in or implied by such forward-looking statements include, but are not limited to: our ability to achieve the strategic and other objectives relating to the acquisition; the risk that we are unable to integrate KCA Deutag’s operations in a successful manner and in the expected time period; and our ability to successfully manage the increased scale of our operations and expansion into new geographic operating regions.
Additional factors that could cause actual results to differ materially from our expectations or results discussed in the forward-looking statements, please refer to H&P’s 2024 Annual Report on Form 10-K, including under Part I, Item 1A— “Risk Factors” and Part II, Item 7— “Management’s Discussion and Analysis of Financial Condition and Results of Operations” thereof, as updated by subsequent reports we file with the
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