Helmerich & Payne's Steady Expansion Into International Markets Will Offset Weak US Activity

Helmerich & Payne has maintained the dominant market share in US horizontal land rigs (26%) for over a decade. H&P seeks to differentiate itself in the commoditized drilling services market by staying at the forefront of technological innovation. It was an early adopter of super-spec rigs (AC drive, minimum 1,500-horsepower drawworks, minimum of 750,000 pounds hookload rating, 7,500 psi mud circulating system, and multiple-well pad capability), which now compose the majority of its operating fleet. H&P is the largest super-spec provider in the industry, representing about one third of total super-spec rigs available in the United States.