Helmerich & Payne, Inc. (HP) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

relentless focus on providing value to our customers. We also made significant progress on two key fronts of our international growth strategy during the quarter. First, as part of our organic growth plan, we completed the exportation of eight flex rigs into Saudi Arabia, where they will be drilling in unconventional natural gas plays. Second, after receiving the final regulatory approvals for the KCA DOITAG acquisition, We were able to close on the transaction a couple of weeks ago, which now makes H&P a global leader in providing onshore drilling solutions. I'll talk more about the significant attributes of this transaction in a few minutes, but we believe this deal positions us as the premier global drilling company with global scale, industry-leading technology, a fantastic group of customers, and best-in-class workforce. Collectively, these achievements in North America Solutions and international continue to demonstrate our ability to execute across multiple capital allocation goals investing in the business for the long term, providing shareholder returns and maintaining a strong financial position which prioritizes debt reduction. Throughout its long history, H&P has differentiated itself from competitors by developing distinct competitive advantages. In many ways, those distinctives revolve around the attributes of our rigs, our people, our processes, and our technology. But importantly, scale and managing through the cycles are also crucial differentiators. We have long been known as an industry leader in the U.S., with our super spec flex rig fleet having over 35% market share today. We have a strong presence in all major basins in the U.S., highlighted by our market-leading presence in the Permian, where we have around 100 rigs running today. The continue...