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Helmerich and Payne inc   (HP)
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Helmerich And Payne Inc's Customers Performance

HP

 
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 93.35 %.

List of HP Customers




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


   
Customers Net Income grew in Q4 by Customers Net margin grew to
41.58 % 7.43 %



Helmerich And Payne Inc's Customers, Q4 2023 Revenue Growth By Industry
Customers in Miscellaneous Fabricated Products Industry      30.86 %
Customers in Appliance & Tool Industry    
Customers in Food Processing Industry -18.76 %   
Customers in Oil And Gas Production Industry -16.44 %   
Customers in Oil & Gas Integrated Operations Industry -14.1 %   
Customers in Property & Casualty Insurance Industry      12.26 %
Customers in Investment Services Industry      95.12 %
Customers in Blank Checks Industry    
Customers in Professional Services Industry      8.67 %
Customers in Natural Gas Utilities Industry      0.72 %
     
• Customers Valuation • Customers Mgmt. Effect.


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

Helmerich & Payne, Inc. Clinches 7-Rig Contract with Saudi Aramco as Revenue Faces Downward Trend

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....




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 4,153.49 2,829.93 432.13 10,352
Altex Industries Inc 2.62 0.03 -0.07 1
American Noble Gas Inc 0.73 0.04 -2.73 0
Apa Corporation 9,905.28 10,285.00 3,926.00 2,253
Truleum Inc 106.81 0.15 -2.25 0
Antero Resources Corporation 9,458.27 4,681.97 341.84 528
Abraxas Petroleum Corp 0.90 49.74 37.33 109
Battalion Oil Corp 86.96 220.76 -3.05 0
Petrolia Energy Corporation 0.77 4.48 -1.80 7
Bp Plc 690,680.83 213,032.00 15,880.00 0
Broadridge Financial Solutions Inc 23,251.89 6,320.80 1,552.00 14,300
Barnwell Industries inc 29.19 23.91 -2.68 29
Black Stone Minerals L p 6,559.25 592.22 823.32 7
Camber Energy Inc 3.89 6.78 -32.28 0
Chesapeake Energy Corporation 10,958.41 8,721.00 2,419.00 0
Chord Energy Corporation 7,929.82 3,931.97 2,362.81 0
Calumet Specialty Products Partners l p 1,233.46 4,202.70 362.70 2,000
Conocophillips 156,203.77 56,141.00 10,957.00 9,900
Callon Petroleum Co 2,220.54 2,342.98 401.20 121
California Resources Corp 3,982.80 2,801.00 564.00 0
Comstock Resources Inc 2,695.20 2,121.48 636.43 117
Coterra Energy Inc 21,315.73 5,914.00 1,625.00 936
Chevron Corp 303,615.87 200,949.00 21,411.00 42,595
Daybreak Oil And Gas Inc 0.41 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 1,335.13 163.80 114.12 24
Dow Inc 40,320.43 45,860.00 1,402.00 35,700
Koil Energy Solutions Inc 6.93 15.34 -1.55 59
Devon Energy Corp 33,464.93 15,412.00 3,825.00 1,600
Vaalco Energy Inc 716.70 455.07 60.35 104
Eog Resources Inc 78,352.56 24,186.00 7,594.00 2,800
Empire Petroleum Corporation 120.84 40.08 -12.47 0
Evolution Petroleum Corp 188.85 96.67 16.68 5
Eqt Corporation 15,765.12 6,908.92 1,734.54 693
Earthstone Energy Inc 2,292.40 1,753.92 440.97 48
Diamondback Energy Inc 36,719.09 8,412.00 3,336.00 870
Freedom Holding Corp 3,865.07 1,399.31 336.38 0
New Concept Energy Inc 2.75 0.15 -0.02 41
Gulfport Energy Corp 2,939.42 1,791.70 1,258.56 0
Gulfslope Energy Inc 0.76 0.00 -5.01 7
Gran Tierra Energy Inc 267.06 636.64 -6.29 387
Hess Corporation 47,939.09 10,511.00 1,738.00 1,545
Houston American Energy Corp 18.96 1.19 -0.78 3
Imperial Oil Limited 40,563.15 39,042.25 3,744.97 5,600
Israel Acquisitions Corp 93.41 83.49 6.07 170
Kosmos Energy ltd 2,848.55 1,701.61 213.52 270
Loews Corp 17,426.86 15,901.00 1,545.00 10,340
Laredo Oil Inc 53.57 1.17 -2.93 70
Marathon Oil Corporation 16,730.69 6,697.00 1,554.00 1,531
Matador Resources Company 7,762.28 2,673.33 828.24 165
Murphy Oil Corporation 7,176.82 3,460.15 723.68 1,712
Mexco Energy Corporation 27.13 8.19 2.96 3
Northern Minerals and Exploration Ltd 13.70 0.00 0.03 1
Northern Oil And Gas Inc 3,925.61 2,166.26 922.97 19
Oneok Inc 38,836.87 17,677.00 2,659.00 2,847
Occidental Petroleum Corporation 80,686.91 28,257.00 5,619.00 11,678
Par Pacific Holdings Inc 1,969.90 8,231.96 728.64 863
Pdc Energy Inc 6,524.40 4,220.27 1,850.54 395
Pedevco Corp 84.24 30.78 0.26 6
Phx Minerals Inc 122.80 50.23 20.57 21
Trillion Energy International Inc 57.18 1.83 -6.12 1
Primeenergy Resources Corporation 257.15 132.81 28.10 155
Permian Resources Corporation 6,000.65 2,759.76 665.79 0
Pioneer Natural Resources Co 66,237.30 19,362.00 4,894.00 1,932
Ring Energy Inc 396.16 361.06 104.86 30
Riley Exploration Permian Inc 559.95 375.05 111.59 0
Rocky Mountain Chocolate Factory Inc 22.50 26.30 -4.29 0
Rose Hill Acquisition Corporation 0.06 277.44 3.93 4
Royale Energy Inc 2.39 2.16 -1.83 11
Range Resources Corporation 8,987.17 2,811.61 635.02 990
Reserve Petroleum Co 27.05 13.38 -0.09 8
Silverbow Resources Inc 693.00 639.30 638.06 0
Sandridge Energy Inc 544.74 148.64 60.86 509
Sm Energy Co 5,824.12 2,373.89 817.88 607
Sharkninja Inc 8,621.75 4,252.85 167.08 235
Spindletop Oil and Gas Co 19.58 5.74 -2.02 23
Sitio Royalties Corp 3,785.25 526.21 99.73 1,745
Southwestern Energy Company 8,193.57 6,522.00 1,557.00 2,781
Trecora Resources 231.52 301.32 8.99 310
Ageagle Aerial Systems Inc 72.19 15.29 -30.11 0
Uniti Group Inc 1,255.99 1,147.91 -33.51 950
Us Energy Corp 32.80 32.32 -32.36 2
Viper Energy Inc 2,911.32 827.70 501.34 1
Vital Energy inc 1,133.55 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 47,230.78 10,907.00 3,303.00 4,783
W and t Offshore inc 336.07 532.66 15.60 302
Exxon Mobil Corporation 486,843.86 344,582.00 37,354.00 63,000
Zion Oil and Gas Inc 42.23 0.00 -54.45 0
SUBTOTAL 2,397,070.10 1,173,836.87 157,613.78 231,718


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