Helmerich and Payne inc (HP) |
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Helmerich And Payne Inc's Customers Performance
HP
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HP's Source of Revenues |
In the Q4, Helmerich And Payne Inc 's corporate clients experienced a decline by -12.66 % in their costs of revenue, compared to a year ago, sequentially costs of revenue were trimmed by -0.52 %. During the corresponding time, Helmerich And Payne Inc revenue deteriorated by -5.9 % year on year, sequentially revenue grew by 2.66 %. While revenue at the Helmerich And Payne Inc 's corporate clients fell by -12.9 % year on year, sequentially revenue grew by 93.39 %.
• List of HP Customers
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Customers of Helmerich And Payne Inc saw their costs of revenue decline by -12.66 % in Q4 compare to a year ago, sequentially costs of revenue were trimmed by -0.52 %, for the same period Helmerich And Payne Inc revnue deteriorated by -5.9 % year on year, sequentially revenue grew by 2.66 %.
• List of HP Customers
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Customers Net Income grew in Q4 by |
Customers Net margin grew to |
40.87 % |
7.43 % |
Helmerich And Payne Inc's Comment on Sales, Marketing and Customers
In the United States, we draw our customers primarily from the major oil
companies and the larger independent oil companies. In South America, our current
customers include major international oil companies.
BHP Billiton, Devon Energy Production Co. LP and Occidental Oil and Gas Corporation,
including their affiliates, are our three largest contract drilling customers.
Our drilling contracts are obtained through competitive bidding or as a result
of negotiations with customers, and often cover multi-well and multi-year projects.
Each drilling rig operates under a separate drilling contract. All drilling
services were performed on a "daywork" contract basis, under which
we charge a fixed rate per day, with the price determined by the location, depth
and complexity of the well to be drilled, operating conditions, the duration
of the contract, and the competitive forces of the market. We have previously
performed contracts on a combination "footage" and "daywork"
basis, under which we charged a fixed rate per foot of hole drilled to a stated
depth, usually no deeper than 15,000 feet, and a fixed rate per day for the
remainder of the hole. Contracts performed on a "footage" basis involve
a greater element of risk to the contractor than do contracts performed on a
"daywork" basis. Also, we have previously accepted "turnkey"
contracts under which we charge a fixed sum to deliver a hole to a stated depth
and agree to furnish services such as testing, coring and casing the hole which
are not normally done on a "footage" basis. "Turnkey" contracts
entail varying degrees of risk greater than the usual "footage" contract.
We have not accepted any "footage" or "turnkey" contracts
in over fifteen years.
We believe that under current market conditions, "footage" and "turnkey"
contract rates do not adequately compensate us for the added risks. The duration
of our drilling contracts are "well-to-well" or for a fixed term.
"Well-to-well" contracts are cancelable at the option of either party
upon the completion of drilling at any one site. Fixed-term contracts generally
have a minimum term of at least six months but customarily provide for termination
at the election of the customer, with an "early termination payment"
to be paid to us if a contract is terminated prior to the expiration of the
fixed term. However, under certain limited circumstances such as destruction
of a drilling rig, our bankruptcy, sustained unacceptable performance by us
or delivery of a rig beyond certain grace and/or liquidated damage periods,
no early termination payment would be paid to us.
Contracts generally contain renewal or extension provisions exercisable at
the option of the customer at prices mutually agreeable to us and the customer.
In most instances contracts provide for additional payments for mobilization
and demobilization.
News about Helmerich and Payne inc Contracts |
TULSA, Okla. - Helmerich and Payne, Inc. (HandP) (NYSE: HP) recently announced the successful conclusion of contractual terms with Saudi Aramco for a significant 7-rig tender award. The awarded super-spec rigs will be engaged in unconventional gas operations under 5-year contracts, with 1-year options. These rigs are slated to commence operations shortly following delivery, expected to begin in the fourth quarter of 2024.Despite this positive development, HandP's corporate clients experienced a 7.44% reduction in their costs of revenue compared to the previous year. Sequentially, costs of revenue grew by 0.43%. Similarly, HandP's revenue deteriorated by 5.9% year on year, but showed a sequential growth of 2....
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Helmerich And Payne Inc's Comment on Sales, Marketing and Customers
In the United States, we draw our customers primarily from the major oil
companies and the larger independent oil companies. In South America, our current
customers include major international oil companies.
BHP Billiton, Devon Energy Production Co. LP and Occidental Oil and Gas Corporation,
including their affiliates, are our three largest contract drilling customers.
Our drilling contracts are obtained through competitive bidding or as a result
of negotiations with customers, and often cover multi-well and multi-year projects.
Each drilling rig operates under a separate drilling contract. All drilling
services were performed on a "daywork" contract basis, under which
we charge a fixed rate per day, with the price determined by the location, depth
and complexity of the well to be drilled, operating conditions, the duration
of the contract, and the competitive forces of the market. We have previously
performed contracts on a combination "footage" and "daywork"
basis, under which we charged a fixed rate per foot of hole drilled to a stated
depth, usually no deeper than 15,000 feet, and a fixed rate per day for the
remainder of the hole. Contracts performed on a "footage" basis involve
a greater element of risk to the contractor than do contracts performed on a
"daywork" basis. Also, we have previously accepted "turnkey"
contracts under which we charge a fixed sum to deliver a hole to a stated depth
and agree to furnish services such as testing, coring and casing the hole which
are not normally done on a "footage" basis. "Turnkey" contracts
entail varying degrees of risk greater than the usual "footage" contract.
We have not accepted any "footage" or "turnkey" contracts
in over fifteen years.
We believe that under current market conditions, "footage" and "turnkey"
contract rates do not adequately compensate us for the added risks. The duration
of our drilling contracts are "well-to-well" or for a fixed term.
"Well-to-well" contracts are cancelable at the option of either party
upon the completion of drilling at any one site. Fixed-term contracts generally
have a minimum term of at least six months but customarily provide for termination
at the election of the customer, with an "early termination payment"
to be paid to us if a contract is terminated prior to the expiration of the
fixed term. However, under certain limited circumstances such as destruction
of a drilling rig, our bankruptcy, sustained unacceptable performance by us
or delivery of a rig beyond certain grace and/or liquidated damage periods,
no early termination payment would be paid to us.
Contracts generally contain renewal or extension provisions exercisable at
the option of the customer at prices mutually agreeable to us and the customer.
In most instances contracts provide for additional payments for mobilization
and demobilization.
HP's vs. Customers, Data
(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)
COMPANY NAME |
MARKET CAP |
REVENUES |
INCOME |
EMPLOYEES |
Helmerich and Payne inc |
4,232.70 |
2,829.93 |
432.13 |
10,352 |
Altex Industries Inc |
2.62 |
0.03 |
-0.07 |
1 |
American Noble Gas Inc |
0.69 |
0.04 |
-2.73 |
0 |
Apa Corporation |
10,528.98 |
10,285.00 |
3,926.00 |
2,253 |
Truleum Inc |
103.25 |
0.26 |
-1.94 |
0 |
Antero Resources Corporation |
8,508.39 |
4,681.97 |
341.84 |
528 |
Abraxas Petroleum Corp |
0.90 |
49.74 |
37.33 |
109 |
Battalion Oil Corp |
93.48 |
251.11 |
-149.18 |
0 |
Petrolia Energy Corporation |
5.49 |
4.48 |
-1.80 |
7 |
Bp Plc |
666,894.85 |
213,032.00 |
15,880.00 |
0 |
Broadridge Financial Solutions Inc |
24,410.74 |
6,320.80 |
1,552.00 |
14,300 |
Barnwell Industries inc |
23.59 |
23.91 |
-2.68 |
29 |
Black Stone Minerals L p |
6,588.62 |
592.22 |
823.32 |
7 |
Camber Energy Inc |
4.25 |
6.78 |
-32.28 |
0 |
Chesapeake Energy Corporation |
10,958.41 |
8,721.00 |
2,419.00 |
0 |
Chord Energy Corporation |
7,540.52 |
3,931.97 |
2,362.81 |
0 |
Calumet Specialty Products Partners l p |
1,107.83 |
4,202.70 |
362.70 |
2,000 |
Conocophillips |
153,795.89 |
56,141.00 |
10,957.00 |
9,900 |
Callon Petroleum Co |
2,220.54 |
2,342.98 |
401.20 |
121 |
California Resources Corp |
3,861.73 |
2,801.00 |
564.00 |
0 |
Comstock Resources Inc |
2,454.21 |
2,121.48 |
636.43 |
117 |
Coterra Energy Inc |
20,949.53 |
5,914.00 |
1,625.00 |
936 |
Chevron Corp |
295,939.96 |
200,949.00 |
21,411.00 |
42,595 |
Daybreak Oil And Gas Inc |
4.01 |
1.61 |
-2.43 |
6 |
Denbury Inc |
4,647.29 |
1,406.41 |
228.70 |
0 |
Discovery Energy Corp |
15.44 |
0.00 |
-2.34 |
1 |
Dorchester Minerals L p |
1,290.97 |
163.80 |
114.12 |
24 |
Dow Inc |
40,377.03 |
45,860.00 |
1,402.00 |
35,700 |
Koil Energy Solutions Inc |
6.93 |
15.34 |
-1.55 |
59 |
Devon Energy Corp |
31,984.58 |
15,412.00 |
3,825.00 |
1,600 |
Vaalco Energy Inc |
728.56 |
455.07 |
60.35 |
104 |
Eog Resources Inc |
74,275.16 |
24,186.00 |
7,594.00 |
2,800 |
Empire Petroleum Corporation |
107.50 |
37.42 |
-9.96 |
0 |
Evolution Petroleum Corp |
192.79 |
96.67 |
16.68 |
5 |
Eqt Corporation |
15,053.75 |
6,908.92 |
1,734.54 |
693 |
Earthstone Energy Inc |
2,292.40 |
1,753.92 |
440.97 |
48 |
Diamondback Energy Inc |
35,209.21 |
8,412.00 |
3,336.00 |
870 |
Freedom Holding Corp |
4,152.62 |
1,399.31 |
336.38 |
0 |
New Concept Energy Inc |
5,439.92 |
0.17 |
0.03 |
41 |
Gulfport Energy Corp |
2,969.04 |
1,791.70 |
1,258.56 |
0 |
Gulfslope Energy Inc |
1.14 |
0.00 |
-5.01 |
7 |
Gran Tierra Energy Inc |
231.10 |
636.64 |
-6.29 |
387 |
Hess Corporation |
46,700.52 |
10,511.00 |
1,738.00 |
1,545 |
Houston American Energy Corp |
14.28 |
1.19 |
-0.78 |
3 |
Imperial Oil Limited |
39,503.58 |
39,042.25 |
3,744.97 |
5,600 |
Israel Acquisitions Corp |
155.39 |
83.49 |
7.92 |
170 |
Kosmos Energy ltd |
2,746.64 |
1,701.61 |
213.52 |
270 |
Loews Corp |
17,842.93 |
15,901.00 |
1,545.00 |
10,340 |
Laredo Oil Inc |
32.51 |
1.17 |
-3.29 |
70 |
Marathon Oil Corporation |
17,036.33 |
6,697.00 |
1,554.00 |
1,531 |
Matador Resources Company |
7,813.88 |
2,673.33 |
828.24 |
165 |
Murphy Oil Corporation |
7,142.33 |
3,460.15 |
723.68 |
1,712 |
Mexco Energy Corporation |
20.98 |
8.19 |
2.96 |
3 |
Northern Minerals and Exploration Ltd |
15.07 |
0.00 |
0.03 |
1 |
Northern Oil And Gas Inc |
3,575.93 |
2,166.26 |
922.97 |
19 |
Oneok Inc |
38,744.72 |
17,677.00 |
2,659.00 |
2,847 |
Occidental Petroleum Corporation |
77,742.88 |
28,257.00 |
5,619.00 |
11,678 |
Par Pacific Holdings Inc |
2,213.39 |
8,231.96 |
728.64 |
863 |
Pdc Energy Inc |
6,524.40 |
4,220.27 |
1,850.54 |
395 |
Pedevco Corp |
67.43 |
30.78 |
0.26 |
6 |
Phx Minerals Inc |
119.50 |
50.23 |
20.57 |
21 |
Trillion Energy International Inc |
57.18 |
1.83 |
-6.12 |
1 |
Primeenergy Resources Corporation |
260.56 |
111.14 |
35.61 |
155 |
Permian Resources Corporation |
5,986.67 |
2,759.76 |
665.79 |
0 |
Pioneer Natural Resources Co |
63,240.09 |
19,362.00 |
4,894.00 |
1,932 |
Ring Energy Inc |
368.97 |
361.06 |
104.86 |
30 |
Riley Exploration Permian Inc |
626.95 |
375.05 |
111.59 |
0 |
Rocky Mountain Chocolate Factory Inc |
23.63 |
26.30 |
-4.29 |
0 |
Rose Hill Acquisition Corporation |
0.06 |
277.44 |
3.93 |
4 |
Royale Energy Inc |
4.06 |
2.51 |
0.09 |
11 |
Range Resources Corporation |
8,449.85 |
2,811.61 |
635.02 |
990 |
Reserve Petroleum Co |
27.28 |
13.42 |
3.26 |
8 |
Silverbow Resources Inc |
791.37 |
639.30 |
638.06 |
0 |
Sandridge Energy Inc |
524.71 |
148.64 |
60.86 |
509 |
Sm Energy Co |
5,803.85 |
2,373.89 |
817.88 |
607 |
Sharkninja Inc |
8,489.30 |
4,252.85 |
167.08 |
235 |
Spindletop Oil and Gas Co |
20.18 |
5.74 |
-2.02 |
23 |
Sitio Royalties Corp |
3,802.55 |
526.21 |
99.73 |
1,745 |
Southwestern Energy Company |
8,348.17 |
6,522.00 |
1,557.00 |
2,781 |
Trecora Resources |
231.52 |
301.32 |
8.99 |
310 |
Ageagle Aerial Systems Inc |
78.52 |
15.29 |
-30.11 |
0 |
Uniti Group Inc |
1,405.01 |
1,147.91 |
-33.51 |
950 |
Us Energy Corp |
28.99 |
35.37 |
-14.36 |
2 |
Viper Energy Inc |
2,787.10 |
827.70 |
501.34 |
1 |
Vital Energy inc |
1,030.10 |
1,547.60 |
695.08 |
0 |
Victory Oilfield Tech Inc |
14.08 |
1.61 |
-0.49 |
2 |
Whiting Petroleum Corp |
2,667.05 |
1,752.95 |
391.42 |
850 |
Williams Companies Inc |
47,310.18 |
10,907.00 |
3,303.00 |
4,783 |
W and t Offshore inc |
348.83 |
532.66 |
15.60 |
302 |
Exxon Mobil Corporation |
468,008.48 |
344,582.00 |
37,354.00 |
63,000 |
Zion Oil and Gas Inc |
35.17 |
0.00 |
-54.45 |
0 |
SUBTOTAL |
2,333,757.07 |
1,173,846.45 |
157,502.76 |
231,718 |
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